1LISTING.COM
CHALLENGES TO SELLING YOUR OWN HOME
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You have decided to try to sell your home yourself, without the services
of a real estate broker/agent. The "For Sale by Owner" (FSBO) selling
process will present you with certain challenges. Below are some of the
more important factors to consider when you begin the process:
The
Basics
- Complete an extensive research of local market
conditions, including:
- the listing and selling price of all houses in your
area for the last six months,
- the listing price of houses currently on the market,
and
- the listing prices of houses that were on the market
but did not sell.
1Listing's Comparable Market Analysis, free upon request,
will provide much of this information.
- Put together a marketing plan.
- How will you market your house to Realtors? Most
buyers use a Realtor, so marketing to Realtors is
essential. At a minimum, you'll want to send a letter and
sales flyer to all Realtors within a 30 mile radius.
- How much money can you afford to devote to
advertising? Call the local newspapers to determine how
much it will cost for advertisements. You'll want to run
daily and Sunday ads in the newspapers.
- Who will create your sales flyers? Buyers expect fact
sheets to take with them when they drive-by or tour a
house for sale.
- Where will you place signage? In addition to your
front yard, is there areas leading in to your neighborhood
where signage would be appropriate?
- How will potential buyers find information about your
house on the Internet? You'll want potential buyers who
begin their house shopping on the Internet to find your
house. Be sure to build a website to help sell your house.
- Who will take inquiry calls and schedule appointments?
You'll want someone to be available to answer inquiry
calls and schedule appointments. Be sure to schedule
showings as quickly as possible - even the same
day.
1Listing's $199 flat fee MLS Listing
will expose your home to local area
Realtors and prospective buyers, and should be the cornerstone of your marketing
plan.
- Confirm that the potential buyer
has pre-qualified for a mortgage loan.
- If the buyer is buying with cash, confirm that they
have the necessary resources.
- If the purchase is contingent on the buyer selling
their own house, confirm that the buyer's house is on the
market. (You may also want to determine how long the
buyer's house has been on the market.)
- Negotiations, Contracts and
Closings
- Are you prepared to negotiate the contract?
- Do you know what the legal responsibilities of the
seller are in your area?
- Who will write the contract? Will you need to hire a real estate professional? If so, is that person licensed and qualified? What will be the commission/fee for those services?
1Listing's $2999 flat fee Seller Representation Service will help you successfully close your transaction. See our Services and Pricing
page.
THE1LISTING PROGRAM IS OFFERED THROUGH THROUGH
NCaHOME, A FULL SERVICE CALIFORNIA RESIDENTIAL REAL ESTATE BROKERAGE COMPANY, THAT
CAN PROVIDE YOU WITH OTHER REDUCED COMMISSION AND DISCOUNTED
SERVICES.
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