There are two very important "whys” for the For Sale by Owner.
The first is the one that you must ask yourself:
“Why” are you selling your home by yourself, instead of listing with a real estate firm?
The only legitimate answer for this question is:
- for the money!!
If it’s not about the money, don’t do it yourself.
Typically real estate agencies operate on a commission basis, which is a predetermined percentage of the selling price. The exact amount that it will cost you to use an agent will depend on the price of your home. It can range anywhere from a few thousand dollars to tens of thousands of dollars. A quick phone call to any local agency will get you a rate. Once you know this you can easily come up with the commission costs by multipling it by what you feel your home is worth. Of course this number won't be exact, but it will give you a "general" idea of what you will save by selling your home yourself. Don't forget that you will also have to deduct any marketing costs since you will have to promote and advertise yourself.
Once you have a number, study it, then ask yourself:
- Does saving this much at closing appeal to me?
- Can I commit the time and focus necessary to do it right?
-If the answer to both questions is "YES", then by all means proceed.
However, if, after reading this site you come to the conclusion that it might require more time or work than you’re willing to commit to for the amount of money that you’ll save, now is the time to back out and call a professional real estate agent.
And in that respect I will have succeeded in why I’ve posted this site.
It’s so that you will have ALL the information you need to make the decision that is right for you.
The second why is the one that you’re going to have to be prepared to answer each time that you show your home.
Every potential buyer will ask:
“Why are you selling?”
It’s a legitimate question, and they have a right to know.
Do you need a larger or smaller house?
Are you retiring?
Perhaps, you got a new job?
When asked, have a short and honest answer ready. Too much detail isn’t needed at this time. “For health reasons we’ve decided to move to a dryer climate” is much better than a long explanation about your spouses emphysema, all of his/hers treatments and the current state of the doctor’s prognosis.
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