If you ask anyone who has ever tried to sell their home themselves, they'll tell you that from the moment the "For Sale by Owner" sign goes up, the phone begins to ring. Unfortunately, many of those calls will not be from prospective buyers but rather from real estate agents looking to obtain your listing. Obviously the idea of not having to pay a commission to a real estate agent is attractive to any homeseller. But because of all the issues involved in the process, selling a home on one's own can be as challenging as many homesellers will attest to. The key is to be properly prepared. If you are not, your home could remain on the market longer than you expect because you are not attracting and getting offers from qualified buyers. This can be the point where many homeowners become frustrated and consider giving up their dream of selling their home themselves.

However, there are sellers who successfully accomplish selling their own homes. You can be one of them. This industry report has been especially prepared to assist homesellers, such as yourself, understand the elements involved so you, on your own, can sell your home quickly for the most amount of profit. To help you prepare, here are 10 inside tips that you should be aware of before you make the decision as to whether or not this is the right approach for you.

1. Price it Right...Correctly setting your asking price is critical. Setting your price too high can be as costly as setting it too low. Home prices are determined by fluctuations in the marketplace, not by your emotional attachment or by what you feel your home is worth. In order to establish a realistic price for your home, objectively compare the price, features and condition of all similar homes in both your neighborhood and other similar ones that have sold in recent months. It is also important for you to be familiar with the terms of each potential sale. Terms are often as important as price in today's market. Carefully budget your selling costs and prepare a net proceeds sheet to calculate your best estimate of what you will take away from your home sale. Prospective buyers may also request this kind of analysis of buying costs.
2. Prepare Your Home for Sale...First impression is crucial. Make sure your home makes a positive statement by carefully inspecting all details and viewing it through the objective eyes of a buyer. Don't gloss over needed repairs and fix-ups, as your prospective buyers won't. Your job is to ensure that your home stands out favorably from the competition.
3. Prepare Yourself With All Necessary Legal Documentation... Not surprisingly, there are many important legal contracts and documents which you must assemble, complete and understand. A partial checklist of forms that you will require for prospective buyers and for legal documentation is as follows:

         • Seller Disclosure • Purchase Contract • Mortgage Payoff • Loan Application • Deposit Receipt • Property  Profile Fact Sheet • Buyer's Cost Sheet • Closing & Settlement • Personal Property • Exclusion List • Property Survey • Sellers Statement/Plot Plan of Representation

    4. Market Your Home Effectively... Beyond the sign you will put on your lawn, you should find effective ways to spread the word about your home. Local buyers can be reached through the newspaper, but this is only a small part of the market you are after. Be sure you include the many buyers who could already be working with a Realtor®. To locate them, target as many top agents as possible in your market to see if the criteria of their buyers matches that of your home's. Because out-of town buyers are also an important target, you should create a strategy to reach these people as well. Above all, you should be very service-minded and make it easy for pre-qualified buyers to view your home. Ensure there is always someone available to answer the phone, pick up messages promptly, and be ready to give qualified prospects a tour of your home as soon as possible.

   5. Remain Objective During a  Showing of Your Home...Keep emotion out of the sale of your home, and the  best way to do this during a showing is to remain physically in the background. If a prospective buyer says something negative about your home, it is better to counter-balance this point of view by illustrating the positives rather than becoming defensive.

   6. Pre-Qualify Your Prospects...Don't waste your time entertaining buyers who could never afford your home. Research their financial steadiness with respect to job security, salary, debts, liabilities and credit standing.

   7. Negotiate Effectively & Knowledgeably...There will be many details to resolve before a sale can be considered final: price, terms, inspections, possession date, buyer concerns and objections. Make sure you fully understand the contract you have drawn up so you can in turn explain details and ramifications to the buyer and make any amendments to the sale that are necessary. The contract you use should be thoroughly examined by your real estate attorney. Some real estate brokers may be willing to help you do this. While this is going on, manage the buyer's interest in your home so that it doesn't wane during negotiations.

  8. Know Your Buyer...Your objectives during negotiations are to control the pace and set the duration. Try to determine what your buyer's motivation is. Does he or she need to move quickly? Do they have enough money to pay your asking price? Knowing this information will give you the advantage in the negotiation because you will know up front what you will need to do in order to get what you want.

  9. Don't Move Out Before You Sell...Studies have shown that it is more difficult to sell a home that is vacant. It looks forlorn, forgotten, simply not appealing. It could even cost you money. If you move, you're also telling buyers that you have a new home and are motivated to sell fast which can, of course, gives them an advantage at the negotiating table.

1. Be as prepared as possible with your marketing, negotiations, evaluations, showings and all legalities.

2. Consider what it will cost you to effectively market your home and assemble all necessary materials from the "for sale" sign to any contracts?

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Any questions? Any topic you want to dicuss? Please leave a comment...

If you're like most homebuyers, you have two primary considerations in mind when you start looking for a home.

 First, you want to find a home that perfectly meets your needs and desires, and secondly, you want to purchase this home for the lowest possible price. When you analyze those successful homebuyers who have been able to purchase the home they want for thousands of dollars below a seller's asking price, some common denominators emerge. Although your agent's negotiating skills are important, there are three additional key factors that must come into play long before you ever submit an offer.

When you're looking at homes, you'll find that you fall in love with one or another for entirely different reasons. Is it better to buy the 4-bedroom home with room for your family to grow, or the one with the big eat-in kitchen that romances you with thoughts of big weekend family brunches? What's more important: a big backyard or proximity to your child's school? Far too often people buy a home for the wrong reasons and then regret their decision when the home doesn't meet their needs.

#2. Don't shop with stars in your eyes: satisfy your needs first. If you're lucky, you'll find a home that does this and also fulfills your desires. The important thing is to understand the difference before you get caught up in the excitement of looking.

#3. Find out if your agent offers a "Buyer Profile System" or "Househunting Service," which takes the guesswork out of finding just the right home that matches your needs. This type of program will cross-match your criteria with ALL available homes on the market and supply you with printed information on an on-going basis. A program like this helps homebuyers take off their rose-colored glasses and affordably move into the home of their dreams. To help you develop your homebuying strategy, use this form:

1. ______________________________

2. ______________________________

3. ______________________________

4. ______________________________

5. ______________________________

1. _______________________________

2. _______________________________

3. _______________________________

4. _______________________________

5. _______________________________

As a professional in real estate, our call is not just to find the dream homes for our clients because many out there can do that. Our goal is to help our clients build their countable financial future by diversifying their investments to include the real estate into their portfolio.

Many people have misunderstandings regarding their home mortgages. They thought it is more secure to pay it off free and clear as early as possible. Maybe this is stemed from their traditional mindset, or from their parents...etc. While this MIGHT be true many years ago, yet it is no longer the case NOW.

Think about your retirement plans as an example. What income streams can you count on? Social Security income? Pension plan? Yes - you may have the incomes from these sources. However, could they maintain the lifestyle that you want to have when you retire? The answer is probably a BIG " NO" !

So what can we do? What are the solutions? You may ask. As a diligent individual who works hard for your living, your future, your family..., you should have a different view of how to build your wealth on your equity. There are 2 major paradigm shifts that YOU have to shift:

1. Old thinking - Mortgage is the largest debt that you'll ever have & Own your own home free and clear is the best solutions. New thinking - Use mortgage as a investment tool to move real estate, to move cash. It is not a permanent fixture but a tool to help you realize your financial dream.
2. We will never be able to pay off our first home mortgage; yet will be able to pay off our second, third... investment properties!!

Once you have these 2 paradigm shifts, you are transcendent above all the media clouds, and be able to cut thru these NOISES to seize the right properties and start diversifying your investment portfolio. Historically the interest rate and the property values go in opposite direction. When the rate is up, the property value is down; when the interest rate is down, the property value is up. However, the current market is that interest rate is "Low" and property value is also "Low" . In addition to this, you have much more selections right now. What are you waiting? This is "Perfect Storm"! A perfect storm great for first time buyers, and savvy investors.

One more food for thought : What kind of mortgage that former Fed Chairman Alan Greenspan has now? and current Chairman, Ben Bernanke, has now? You bet! Adjustable mortgage. They know how to use mortgage as a TOOL to build their wealth on their equity.

For more FREE information or consultation, please feel free to email me at jobechien@helpusell.com.