For Sale Without Representation
Before you consider selling your house yourself, ask if you are going to have the time needed. Even if you just cover the basics, are you prepared to sell without be represented in the transaction. Are you prepared for the legal ramifications that could arise, have you thought about the safety issues of meeting strangers and inviting them into your home, the inconvenience of you family life and time together and the list goes on.
The Basics:
An extensive and complete research of local market conditions, including:
1. The Sold prices of all houses in your area for the last few months:
2. The pending and asking prices of homes currrently on the
market.
3. The prices of houses that were on the market but did not sell.
Tip: Begin your research on the Internet for active listings. Follow up by visiting the county tax records office to determine the selling prices of houses that have closed.
Put together a marketing plan:
How much expenditure are you going to allocate for advertising?
Where am I going to advertise to target my market?
What are the charges from the various advertising media I can or will use?
Considering that most Buyers use a real estate agent, marketing to real estate agents will be essential. You will need to send an e-mail or letter to all the agents.. don't forget to specify the fee you will pay.
How will you handle inquiries, calls and scheduling of appointments?
Sales flyers are expected by Buyers to take with them after the showing:
How can you use the Internet to attract Buyers: Do you have a website or are you going to pay the $300 to $500 to the For Sale By Owner websites.
Completing the Negotiations, Preparing the Contracts and Following Through on the Closing:
Are you qualified and prepared to negotiate a real estate contract?
Do you know your legal responsibilities as a Seller of real estate in your city, county and state?
Who will prepare the sales contract? You may need to hire an attorney.
