You have decided to sell your home "By Owner" and you live in New Port Richey or the surrounding area. That's a big decision you have made and I would like to welcome you to the real estate sales arena and offer a few topics to consider so you are better prepared to sell your home yourself.
Since I am your local real estate expert in New Port Richey Florida and being a professional real estate agent as well as a Realtor® and a member of both the National Association of Realtors® and the Florida Association of Realtors® and also the chairperson of the Education Committee at the West Pasco Board of Realtors® I would like to offer a few tips for you to help you with this huge endeavor you have undertaken.
Since you will not be able to advertise your home for sale the way that thousands of homes for sale with Realtors® are, you will need to make sure you are available to help your potential buyers at all times so as not to loose them. You may want to consider things like your job and weekday schedule. Can you answer your phone at work to talk to a buyer? Can you leave work for an hour or two to run home and show your home on a Tuesday afternoon? You will want to make contingencies for these situations.
Have you chosen an attorney? Your buyer will most likely hire a Real Estate attorney to write their offer contract and it would be wise of you to hire an attorney to review their contract and hold their escrow deposit until the closing. Professional Realtors like myself have attorneys and title companies who have years of experience and knowledge in this area who we use to hold escrow and search title and provide title insurance which protects you and your buyer. Please seek the advice of an experienced real estate attorney before getting into the business of selling real estate. The last you want is to end up in court over the sale.
Open Houses. How often will you be hosting open houses. You will need to host at least 4 open houses a month so your potential buyers can see your home. You should use large open house signs and balloons to attract buyers. I would suggest you host an open house on Saturday and Sunday of each week for at least 4 hours a day until the home sells.
Buyers who use a Realtor®. Home buyers in New Port Richey that work with me and most local agents are required to sign a contract which states that during the time we are looking for homes (3-6 months) they will use me to purchase the home. Will you be open to paying the professional fee to the buyers agent? If so, how will the agents know this?
Your Budget. So Important. You will need to know your monthly budget for advertising. Which websites will you pay to advertise on and which magazines and newspapers will you advertise in. Real estate agents have the mls database and in New Port Richey our mls shares it's listings with 7 counties in Florida giving our home sellers a huge advantage and tons of exposure. You will need to be sure you are able to compete with that.
I hope you found these tips informative and I wish you the best of luck in getting your "For Sale by Owner" Sold.