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Common Mistakes Made By Owner At The Time Of Selling
f you have decided to sell ways you can promote your home.
your home on your own, By selling on your own, you are
you've joined a growing saving thousands of dollars you
crowd of For Sale by Owners might have paid a Realtor. Use a
(FSBO's) in this area. More and small portion of this money to
more people are choosing to work market your home.
without a Real Estate Agent. The
main reason is Saving Money. • Wasting Time with Unqualified
Buyers
But for the unprepared FSBO home
seller, this process can bring You have a busy lifestyle and you
them to their wit's end. shouldn't waste time dealing with
Unexpected calls, last-minute buyers who can't afford to buy
walkthroughs, and the thought of your home, or worse, with buyers
being stuck with two homes are who are not really interested,
all very real concerns. You could but why are just 'seeing what's
lose many thousands of dollars in available'. Because of this, you
the process if you are not need to ensure that everyone you
careful. deal with is a qualified
prospect. We offer a no-cost
• Not Developing a Marketing Plan service that can pre-qualify your
prospects for you, so you never
You might be under the impression have to deal with this issue.
that all you need to do to sell It's included at NO-COST as a
your home is put up a 'For Sale part of our 'For Sale by Owner
By Owner' sign in your yard and Survival Kit'. More information
then wait for the calls to come on this kit is available at the
in. This is untrue, and making bottom of this report.
this mistake in thinking will
cost you dearly. Think of other • Preparedness
possible. Make yourself available
It will help you if you already to answer any questions they
have a lender you can send might have and work with the
prospective buyers to. A business buyer's schedule for showings.
card from the mortgage office as
well as a stack of empty credit • Offering Concessions in place
applications is a great way to of Repairs
give your buyers a push in the
right direction. If they don’t If you have any trouble spots in
have a lender already then you your home (i.e. - carpets that
can give them a push in the right need to be cleaned, fixtures that
direction. Get from the mortgage need to be replaced, or paint
company that you are working with that is chipping), you are much
a good faith estimate so you can better off fixing these items
quote a possible payment and yourself, instead of offering
interest rate. concessions to the Buyer to cover
the cost of the work. Even if you
• Lack of Access have to hire a handyman to make
the necessary improvements, it
By choosing not to work with a could still be 3 to 5 times
Realtor, you are making some cheaper to pay the handyman than
clear trade-offs. The biggest it would be to offer concessions
tradeoff is that you have to to the buyer at the negotiating
answer the phone, conduct your table. For a list of items that
own open houses, and showings, you should fix ahead of time to
instead of the Realtor. Don't avoid this situation, make sure
make the buyer jump through hoops you request a copy of our NO-COST
to get information about your 'For Sale by Owner Survival
home. Always return any calls Guide'.
from buyers as quickly as
• Not working with agents with comes on the line, say 'Hi,
(Buyer Name), this is (Your
I understand the trepidation most Name). I'm calling because you
people have with working with had previously shown great
agents. Some of it is warranted interest in the home I'm selling.
some of it is not. Don’t My house will probably sell
automatically rule out working sooner, rather than later, which
with agents. I have known many is why, before it sells, I wanted
people that to avoid listing to follow-up with you and see if
there $100k house have spent $10K you were still interested.'
in payments and expenses to do
so. It sometimes makes good Once you have completed get your
business sense to work with an final preparations set up. At the
agent. Just make sure that it is very least you need a “For Sale
on your terms and not the agents. by Owner Sign” and some sort of
outdoor literature holder. Either
• Not Following-up with Buyers an Info-Pak or Info-Tube will
Effectively work great for that. If you
property is off the beaten path
When someone shows interest in or deep inside a subdivision then
your home, but never calls you I highly recommend buying some
back, don't automatically assume directional signs to point
they are not interested anymore. traffic your way. Buying some
Call them and follow up. This is strings of pennants is another
not difficult and you should not way to make sure that people know
be intimidated by the fact that your house is for sale. String
it feels like a 'cold-call'. Just them up across from the roof of
use this simple script: 'Hi, may your house to the corner of your
I speak with (Buyer Name)?' Then, street. If your home is vacant
when the person you want to speak when you sell it you may also
want to consider purchasing a around $125.00 you can get most
lockbox to keep your keys in so everything you need for final
you can grant access to agents or preparations and it will make all
lenders that may need quick and the difference in the world.
easy access to the property. For
About the Author:
Subhash Kumar
(SEO Manager)
For more information on Real Estate see our http://www.halfvalue.com/realestate/Real-Estate.htm .
Visit our http://www.halfvalue.com and http://www.halfvalue.co.uk web sites for more info.
Read more articles by: Subhash Kumar
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