You Can Sell Your Home Yourself

If you ask anyone who has ever tried to sell their home themselves they’ll tell you that from the moment the “For Sale By Owner” sign goes up, the phone begins to ring. Un-fortunately, most of those calls will be from real estate agents looking to obtain your listing, not from prospective buyers. Obviously the idea of not having to pay a commis-sion to a real estate agent is attractive to any home seller. But because of all the issues involved in the process, selling a home on your own can be challenging, as many home owners will attest. In fact, studies show that 80% of for sale by owners turn to a Realtor in the end. The key to success is to be properly prepared. If you’re not, your home could remain on the market much longer than you expect because you’re not attracting and getting offers from qualified buyers. This can be the point where many homeowners become frustrated and consider giving up the dream of selling their home themselves. However, there are sellers who accomplish selling their own homes, and do so well. You can be one of them, but it will take a great deal of work. I have prepared this report to help you succeed. Here are 10 tips that you should be aware of before you decide if this is the right course for you. I hope you find this helpful. If you do, please feel free to share the link.

Price It Right Correctly setting your asking price is critical. Setting your price too high can be as costly as setting it too low. Home prices are determined by the market-place, not by your emotional attachment or by what you feel your home is worth. To establish a realistic price for your home, objectively compare the price, features and condition of all similar homes that have recently sold in both your neighborhood and others like yours. It is also important for you to understand the terms of each potential sale. Terms are often as important as price in today’s market. Carefully track your selling costs and prepare a net proceeds sheet to calculate your best estimate of what you will take away from your home sale. Buyers may also request this kind of analysis of buying costs. Prepare Your Home For Sale First impression is crucial. Make sure your home makes a positive statement by carefully inspecting all details and viewing it through the eyes of a buyer. Don’t gloss over needed repairs and fix-ups, as your prospective buyers won’t. And don’t forget the out-side. If your home doesn’t look great from the street, no one will come inside. Prepare Yourself With All The Needed Legal Documentation Not surprisingly, there are many important legal con-tracts and documents which you must assemble, complete and understand. A partial checklist of forms that you will need for prospective buyers or be able to provide at the closing when you sell your home follows. Note that you will not be allowed to close without having the right legal documents ready. Deposit Receipt Plot Plan Property Survey Deed Restrictions Purchase Contract

10 inside tips to sell

Your home yourself

Market Your Home Powerfully

Beyond the sign you put on your lawn, you should find effective ways to spread the word about your home. Some buyers can be reached through the newspaper, but this is only a tiny fraction of the mar-ket you are after. Keep in mind that most of our buyers come from New England, the Midwest and Mid-Atlantic. Because these out of town buyers are a critical target, you should create a strategy to reach these people. Above all, be very service minded and make it easy for buyers to view your home. Ensure there is always someone to answer the phone, pick up messages and be ready to give prospects a tour of your home as soon as possible. Lastly, make sure you invest the money to create a powerful photo and video protrayal of your home. Buyers expect this and want it NOW.

Stay Objective During Showings

Keep emotion out of the sale of your home. The best way to do this during a showing is to remain physically in the background. Give people the opportunity to talk privately. If a prospective buyer says something negative about your home, don’t respond. It is better to counter-balance this point of view later by illustrating the positives rather than becoming defensive.

Pre-Qualify Your Prospects

Don’t waste your time entertaining buyers who could never afford your home. Research their finan-cial steadiness with respect to job security, salary, debts, liabilities and credit standing. The easiest way to do this is to insist that they bring a mortgage pre-approval from a recognized lender or a “proof of funds” letter from their bank if paying cash. Negotiate Effectively There will be many details to resolve before a sale can be considered final: price, terms, inspections, closing date, and so on. Make sure you fully under-

Closing Statement Exclusion List Property Fact Sheet Disclosure Report Loan Commitment

AlanJ@KW.com · 239-745-5070

You Can Sell Your Home Yourself© is one of the What You Should Know© series written by Alan Johnson, Realtor, as a service to home sellers. I invite you to contact me at any time for more information.

stand the contract you have drawn up so you can in turn explain details to the buyer and make any amendments that are necessary. Be sure to have your contract examined by your attorney. While this is going on, manage the buyer’s interest in your home so that it doesn’t wane during negotiations. Know Your Buyer Your objective during negotiations is to control the pace and set the duration. Try to determine what your buyer’s motivation is. Does he or she need to move quickly? Do they have enough money to pay your asking price? Knowing this will give you the edge in the negotiation because you will know what you need to do in order to get what you want. Know Why You’re Selling (And Keep It To Yourself) The flip side of “understanding your buyer” is “understanding yourself.” Your reasons for selling will affect everything from your list price to how much time and money you will invest in getting your home ready for sale. Your motivation will help de-termine your priorities, and different goals will dic-tate different strategies. Whatever your reasons, it is most important to keep them to yourself. Don’t give away your negotiating advantage. Don’t Move Out Before You Sell Your Home Studies have shown that it is more difficult to sell a home that is vacant. It looks forlorn, forgotten, un-appealing. It could even cost you money. If you move, you are also telling buyers you have a new home and are anxious to sell, which gives them the negotiating edge.

You Are An Amateur!

That’s not an insult. It’s a fact. A professional Realtor sells dozens of homes every year and has encountered every problem situation that could come your way. That experience allows us to antici-pate and dispel these issues. A strong Realtor also understands the need to invest significantly in the resources and tools necessary to sell your home quickly and for top dollar. Realtors only make mon-ey if they sell your home, so they are very highly mo-tivated to make you successful. I cannot speak for all Realtors, only for myself. These are some of the assets I bring to bear when I market a property:

Professional Photography: Your home deserves to look just like those we see in an upscale home magazine. The only way to achieve this is with a professional behind the camera.

Video: Consumers today see video for every-thing from toothpaste to automobiles. A home presented for sale without a compelling video is at a disadvantage.

Internet: There are roughly 800 websites that buyers use to search for homes. I put you on all of them, while you are limited to just a few For Sale By Owner sites.

Legal Documentation: Florida has a very strict set of legal requirements that property sales must meet. Failure to adhere to these could re-sult in delays or lawsuits. I ensure this is not an issue for you.

I am available to help you in any or all of these areas. Give me a call to learn how I can help you achieve your goals.