Some Basic Truths On Going The “For Sale By Owner” Route
Statistics have shown that the real estate agent – that iconic personality and busybody in every property sale – may be losing some of his primary roles in the arena of property investment. Today, an increasing number of people are taking things in their hands and handling their real estate concerns on their own. With the number of tools and information easily available to the average home owner, home buyer or home seller today, doing it your way can offer you significant cost savings and more control over your financial decisions.
One of the fast-emerging trends that prove that real estate players are going DIY is the decision of home sellers to go the “for sale by owner” route. In the recent past, your immediate reaction when you plan to sell a property is to simply call a real estate agent. Full-service agents will handle anything and everything that is connected with your property sale. They will assess the market value of your property to determine the best selling price for it. They will launch multi-media promotions to advertise your offer to your target buyers. They will stage home viewings and coordinate with potential buyers. They will take care of legal concerns and craft a negotiation strategy.
However, a full service agent can charge a significant commission for these services. Some property owners also feel that sometimes, an agent may not be able to fully consider the selling terms and conditions just to find a buyer. This is why a lot of people are now considering making the sale on their own. If you’re one of them, here are some things to consider:
You save money. If you sell your home without the services of a full-service agent, you get to keep the full selling price of your property instead of losing as much as 6 percent, the usual commission allotted for the agent.
You need to invest your time and attention. The business of selling a home can be complicated; only people with the time, interest and inclination will be able to make a successful sale. Do your research. Brush up on real estate and financial investment knowledge. Be up-to-date with current market trends. Equip yourself with knowledge and perspective to position your property in the best light possible.
Recognize it if you need help. You may be confident with your real estate knowledge or your ability to market your property effectively, but make sure that you also have access to help if and when you need it. Perhaps you need a lawyer to manage legal issues. Perhaps you could sign up for a multiple listing service to widen your property’s exposure. Don’t hesitate to seek professionals, products, tools or services that you think you may need.
Going the “for sale by owner” route can be a realistic, practical and rewarding decision. With a growing number of people choosing to manage their own investment decisions, you’ll have the tools and support you need to make the sale process easier, more successful and more profitable.