For Sale By Owner
Is it a good idea?
I know the old saying: "If you want something done right...". But the truth is, only about ten percent of owners, on average, successfully sell their house on their own. Unless you are a qualified real estate professional, putting your home up for sale by owner may be opening the door to a world of hassles that you may be unprepared for.
At the current rate of sales, it would take almost nine months to sell the homes currently on the market - assuming no new homes came on the market, of course. The market is flooded with inventory and sellers need to be able to make their home as visible and attractive as possible, to beat the competition. The most successful way to do this is by using the Multiple Listing System (MLS). Once your home is listed on the MLS, the information is accessible by all other Realtors in the area, and they pass it along to buyers. Only real estate agents have access to the program, so selling on your own removes this useful ability. You will have to put your own advertising out at your own cost. The number of people who may read and respond to your advertisement will probably not seem like much compared to being instantly connected to every real estate agent in the region.
Getting your home information out to more people increases demand and as we all know, increased demand means increased profits. Not only will offers be lower because of lower demand, but For Sale By Owner properties often attract buyers who are looking to get rich quick by purchasing a steal from an unsuspecting seller. A Realtor will make sure that every offer you get is a reasonable and legitimate offer.
Then there are the hassles. How do you set up showings to potential buyers? What forms do you need and where do you get them? Is your buyer qualified? How do you check that they have good credit? Do you need a lawyer? What about a home inspection? Or home warranties? Who do you turn to if a problem arises? And often you have to deal with all these questions while you're in the midst of packing, moving and possibly buying another home of your own.
Selling a home is not an easy thing to do. That's why it's highly recommended that you get help from a professional - someone who knows all the ins and outs, how to handle the problems, and how to walk you through the process to maximize both your profit and your sanity. If you need help selling your home, don't hesitate to contact me either by emailing me or calling or texting me directly at (407) 421-1052.
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