For Sale By Owner
Something in your life has changed and you either want or need to sell your home. If you’ve owned your property for several years, you should have acquired equity in your home. If you’ve only been there a few years, you may not have much equity, depending on how much down payment you paid when you purchased.
Many people think that selling property is as simple as putting a sign in the yard and placing an ad in the local newspaper. Nothing could be further from the truth. You absolutely need to do these two things. However there are a few things in addition to these that you need to be aware of. You’ll also need to:
- Prepare your home and yard for showings, commonly called “staging”
- Be available to take calls from prospective buyers (basically 8:00 a.m. to 10:00 p.m., 7 days a week)
- Keep your home ready to show on short notice
- Be adept at pre-qualifying your buyers
- Have an awareness of safety issues which could arise when showing your home to a stranger
- Have your home evaluated by a professional to determine the correct price range for your home
The Ron Brown Company has prepared a diagram of how the selling process typically transpires. We hope this will be helpful to you, the FSBO, as well as those sellers who list their homes with us.
Did you know that most buyers are committed to a REALTOR through an exclusive Buyer’s Representation Agreement? That agreement creates loyalty between buyer and Realtor agreeing that the buyer will not search for properties without the assistance of that Realtor. Many sellers put their homes on the market and don’t have the traffic they expect. When they later list with a Realtor who is a member of the MLS (Multiple Listing System), they have all kinds of buyers coming through their home. That’s because most buyers prefer to work with a licensed Realtor, and many are in an exclusive agreement keeping those buyers from calling you. Also, the FSBO usually doesn’t have the avenues of exposure to bring in potential buyers that an established professional real estate firm has. Last, but not least, trained professional real estate agents know how to “close” their prospects, get them on contract and eventually through the transaction to the closing table.
When prospects call you, do you know how to talk to them? In addition to getting their name and phone number, you may ask qualifying questions such as:
- Have you been pre-qualified for a mortgage? Or will you be paying cash?
- When do you expect to make a move?
- Do you need to sell your present home before you can buy another?
- If their home is currently under contract, discuss the qualification of their buyer, how is the inspection process going, etc.
The Ron Brown Company is available to assist any For Sale By Owner who has become overwhelmed by the process. Please feel free to email us or call for help. Our team works beyond your expectations!
Download our free sellers guide