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It's a question
thousands of homeowners ask themselves every year. If you're one of them,
you have some difficult decisions awaiting you. Because selling your home
can be a long and complex process. So it's important to think about all the
potential implications - both positive and negative - before choosing to go
it alone. To
help you make the decision that's right for you, below is a list of some of
the duties and responsibilities you would face as an independent home
seller.
Pricing Your Home
� Your first
responsibility as an independent home seller is assigning your home an
accurate value, meaning the highest price a ready, willing and able
buyer will pay. |
� As part of
that decision, you need to consider comparable properties in your area,
current market conditions, as well as the cost of financing and its
availability. |
� Remember that
your listing should be in line with comparable properties and market
trends - you don't want your home to linger on the market or sell for a
lower price than you might have otherwise received. |
� You should
also remember that "For Sale by Owner" homes typically attract bargain
hunters who may expect you to lower your price since they, too, are
looking to save money on REALTOR� commissions. |
Marketing Your Home
� Independent
home sellers must also market their properties to the public. |
� That means: |
� Putting up
signage that is consistent with local ordinances |
� Developing and
paying for display and classified ads in your local newspapers |
� Holding open
houses |
� Working to
ensure your home gets good word-of-mouth exposure among your friends,
neighbors and community organizations. |
Showing Your Home
� As an
independent home seller, you would be responsible for all showings of
your home. |
� With that in
mind, always encourage prospects to make an appointment, and discourage
drop-ins. |
� Work to screen
the "buyers" from the "lookers" - curiosity-seekers are common at "For
Sale By Owner" homes. |
� You should
also pre-qualify potential buyers to ensure they can afford to buy your
home. |
� When the time
comes to negotiate, you'll need to be prepared and informed. |
� Try to resolve
any doubts your buyers might have, work to keep their interest high and
make a final agreement as quickly and efficiently as possible. |
� Once an offer
is made, agree on the price and terms, respond to objections and try to
be responsive and flexible to legitimate concerns. |
Drawing Up the Contract
� Every
independent home seller should have an attorney or another qualified
individual to preside over all agreements. |
� That
individual will draw up the contract and manage the sale proceedings and
closing. He or she might also help you set the closing date and time. |
� You should be
sure to include a list of items you want written into the contract,
including any personal property that is to remain with the home (like
the refrigerator, microwave oven, dishwasher, etc.), or items excluded
in the sale. |
� Also remember
that as the seller, you are obligated by law to disclose any material
defects in your property to the purchaser. |
Is A
Certified Residential Specialist A Better Choice?
Selling your own home
takes a lot of hard work and know-how. Making even a small mistake can spell
serious trouble.
By working with a
REALTOR� who's a
Certified Residential Specialist, you gain the services of
an experienced professional with advanced training in residential sales. Not
only does that free you from the time-consuming tasks involved with selling
your home, it gives you the added expertise to help maximize the profit from
your home.
A Certified Residential Specialist can help you sell your home faster
and for the best price by: |
� Pricing your
home accurately by conducting a Comparative Market Analysis. This
research will help support the price with comparable facts and
statistics. |
� Advertising
your home in the most visible outlets in your area. |
�
Holding open houses. |
� Accessing
out-of-town buyers through the nationwide network of
Certified
Residential Specialists. |
� Suggesting
easy ways to make your home more attractive to potential buyers. |
� Exploring
alternative financing methods that can help relieve a potential buyer's
financing concerns. |
� Scanning the
Multiple Listing Service to locate active buyers through a special
nationwide network of resources. |
�
Acting as a third-party negotiator between you and the buyer, making
sure the selling price and buying price are optimal for both parties. |
� Screening
prospects so you don't have to expose your family to any stranger who
knocks at your door. |
Think
of the services a
Certified Residential Specialist provides as an
investment, one that immediately repays itself in the quick, efficient and
successful sale of your home. |