Put the sign in the yard, talk to some buyers, sell the home. Sounds pretty simple on the surface, but if it were really that easy we'd all be doing it. Although it can be a fine way to save on commission fees, those who try to sell on their own usually develop some appreciation for how realtors earn their commission
In reality, the home selling process is a complex one and there are many details involved in the entire process. Sure, you could stagger through it and learn as you go. Just remember putting the sign in the yard is only the beginning process of legal contracts, appraisals, inspections and financing -- a lot of potential pitfalls.
If you're considering selling your home without a Realtor, I'd like to offer you a few points for thought....
Be aware of the legal rules that govern real estate transactions in your area. Know what necessary state-mandated contract forms and disclosures are needed, the ability to have access to them and who must sign the forms. If not executed properly, what might seem like a simple real estate transaction can turn into a nightmare.
Have the necessary tools and resources you'll need to ensure you're selling your home at a realistic price for your market. Not all homes are created equal so don't compare your home to the sold home down the street, and don't rely on Internet sites offering an online pricing analysis of sold homes in your neighborhood - you might not be getting the most accurate sold information.
Be sure also to stay informed as the marketing process unfolds with possible changes in the marketplace. Know what is selling and for what around you so you can adjust your pricing accordingly if necessary.
You're home is decorated beautifully - that is, to your personal taste and lifestyle. Beware! Buyers are very visual. What might appear in your eyes to be the best looking home in the neighborhood for sale is not necessarily how the buyer will perceive it. You'll probably need an unbiased professional opinion along with some guidance on decluttering and staging your home for most effective showing results.
Plan on advertising costs. If you want to expose your home to the largest possible audience of buyers to get you the maximum price, don't rely on the sign in the yard to do that for you. Without the advertising exposure a Realtor offers, you'll need to get creative. Even then, don't expect the results you hoped for. - most buyers are already working with Realtors who have access to the greatest number of homes for sale though the MLS.
Be prepared to open up your home to strangers with whom you have no background information. This is not a time to be shy about asking all the right personal pre-screening questions before you invite buyers into your home or accept an offer, and be prepared to waste valuable time if they have no real buying ability.
Put your emotions in a box. There's no gap between you and the buyer so you'll need to maintain the position of calm during all phases of selling process. This means dealing with potentially uncomfortable situations, letting go of your personal opinions and responding to criticism.
Know the type of loan program your buyer falls into when you get the contract offer. Loan programs and lender requirements differ so you'll need to have an understanding of how the buyer loan is structured for qualifying, who pays for what and how it can affect you.
Don't expect a full price offer. Buyers have an attitude of high expectation and, of course, you want the best price for your home so be prepared for the negotiation process - This requires skill and can get painfully emotional (remember the box). You'll need to be able to understand the needs of the buyer, know your leverage position, how to end up with a win-win situation and when to walk-away.
Once your in escrow, there's the details to attend to - Title commitments, surveys and inspection reports to review, along with keeping pace with the buyer loan progress are all a part of the tall order of priority. Be prepared to multi-task while trying to maintain your everyday schedule and prepare for your move.
Be prepared for the unexpected. There's a slew of complications that can take place during the process - missed critical contract deadlines, failed inspections, easement encroachments, title defects, lender required conditions, closing delays -- and the list goes on. You'll need to stay in-step with the entire contract process all the way to close to help insure you'll even get there.
The bottom line is this. When you tap into the level of experience and local knowledge provided by a real estate professional, it is well worth the investment you will make. You won't need to concern yourself with all the fine details because your Realtor will walk you through the entire process, making every effort to insure your goals are met and a successful transaction is accomplished.
If your relocating to Texas or already here and would like more information about selling or buying a home in Austin, Pflugerville, Round Rock, Hutto or Cedar Park & Leander, I welcome your call or email.
Karen Staha, CRS,GRI,ABR, REALTOR
(512) 217-2435
email: kmstaha@aol.com web: www.karenstaha.com
Written by Karen Staha, All Rights Reserved ... "Selling your home without a Realtor ?"
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