We know that it is tempting to try to save the real estate commission earned by a real estate agent by selling your property yourself.
So, if you decide to market your own property, we invite you to consider the following steps that you must take in order to save the real estate commission.
CONDUCT YOUR OWN MINI--WALKTHROUGH
Give your place the once-over. Make notes of all items that need repair or improvement.
MAKE ALL NECESSARY REPAIRS
Make all necessary repairs and improvements before you begin to advertise your property.
DO YOUR RESEARCH
Research pricing and terms of sales in today’s market. Investigate prices in your area. Use that information to establish a realistic price for your property.
DETERMINE YOUR FINANCIAL ALTERNATIVES
Meet with local lenders and determine financing alternatives for prospective buyers.
MARKET YOUR HOME
Investigate rates and deadlines for online sites, newspapers and home magazines, etc. that will best advertise your property.
ESTABLISH A BUDGET
Establish an advertising budget. Prepare a contingency advertising budget in case your home does not sell as quickly as you anticipate.
PREPARE A PROFESSIONAL AD
Prepare professional, compelling ads that will attract buyers. Place them in the appropriate publications. Upload materials to online sites.
TARGET OUT-OF-TOWN BUYERS
Prepare a plan to reach out-of-town buyers. They can account for a major portion of today’s home purchasers.
PURCHASE AN OUTDOOR YARD SIGN
Purchase an attractive, weatherproof yard sign and install it in the front of your property.
PREPARE A FACT SHEET
Prepare a fact sheet outlining specific features of your home and the corresponding benefits to prospective purchasers.
SCHEDULE OPEN HOUSES
Schedule open houses on weekdays as well as weekends. Make your property more inviting with freshly cut flowers, scented candles and the aroma of freshly baked bread or cookies.
ADVERTISE YOUR OPEN HOUSE
Purchase “open house” signs and position them in areas along main thoroughfares, through local neighborhoods and on your property. Be sure to remove them after each open house.
ALWAYS BE AVAILABLE
Be available to walk through the property with prospective buyers to answer questions and offer information about local schools, parks, shopping, etc.
RESPOND PROMPTLY TO INQUIRIES
Respond in a timely manner. Learn how to separate “lookers” from qualified buyers. Ask for names and phone numbers and be sure to follow up.
BE PREPARED TO NEGOTIATE
Be prepared to deal with buyers as though you are an impartial third party. Remain calm and refrain from emotional outbursts.
GATHER ALL THE PROPER FORMS
Obtain all forms necessary for the legal sale of real estate property including Deposit Receipt and Offer To Purchase, Buyer’s Cost Sheet and Seller’s Disclosure Form.
DETERMINE YOUR FINANCING
Determine the types of financing that you are willing to consider, such as, FHA, VA, Seller Carryback First Loan, Conventional Loan with Seller, Carryback Second Loan and “Wrap Around” Loan.
NEGOTIATE THE FINAL TERMS OF SALE
Negotiate with buyers all final terms of the sale including price, financing, inspections, date of closing, date of possession and other pertinent considerations.
PLAN A FINAL WALKTHROUGH
Plan a final walkthrough with the buyer before the settlement process is complete in order to resolve any disputes. Have a witness present.
LOCATE AND NEGOTIATE YOUR NEW HOME
While you are marketing your current property, locate and negotiate to purchase your next home. Try to schedule both transactions so that they close simultaneously.
Many people are very comfortable in the role of "For Sale By Owner." You may find that you are one of those people. Whether you choose to sell your property alone or prefer to work with a real estate sales professional, I will be happy to help you at any stage of your homeselling process. Don't hesitate to contact me… even if you just have questions.
333 Salem Pl. Ste. 105
Fairview Heights, IL 62208 ©2020 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity. IL Lic #: 471.005745
333 Salem Pl. Ste. 105 Fairview Heights, IL 62208
©2020 BHH Affiliates, LLC. Real Estate Brokerage Services are offered through the network member franchisees of BHH Affiliates, LLC. Most franchisees are independently owned and operated. Berkshire Hathaway HomeServices and the Berkshire Hathaway HomeServices symbol are registered service marks of HomeServices of America, Inc.® Information not verified or guaranteed. If your property is currently listed with a Broker, this is not intended as a solicitation. Equal Housing Opportunity. IL Lic #: 471.005745