A popular trend in real estate is the movement of people who wish to sell their own property without the assistance of a realtor. At one time, it was almost a necessity to retain the services of a realtor to get the word out on your property. You can now advertise across a multitude of mediums, namely the internet, at a fraction of the cost. Of course, it is important that you do your research before making the decision to list your home as For Sale By Owner.
When selling your home, consider the following:
Set a fair price
Setting a fair price is important when selling your own home. You do not want to scare away buyers. One aspect of a realtor’s job is to help the seller set a price point that will entice buyers. Often, a seller believes their property is worth more than the market states. Whether it is because of an emotional tie or the fact that they added amenities to increase the value of the home, having a fair selling price right off the bat is important. If you are not going to retain the services of a realtor, you should explore the resources available to you in order to reasonably valuate your home.
Marketing
No one is marketing your property. It is your responsibility to do everything your realtor would have done to make your home visible to as many potential buyers as possible. You should explore the best ways to market your home. You should have an attractive sign for your lawn with all of your contact information available. Explore the options provided through the internet, including owners.com, the largest FSBO registry. When marketing your home, always provide all of the facts. If you are selling “as is”, be upfront about it.
Handling Realtors
Even if you decide to not hire a realtor, they may still be a part of your transaction. It is important to be prepared. Some realtors may offer to show your house or contact you for a potential client. You need to be ready to negotiate the realtor’s fee in the deal. Our office is ready to represent your legal and financial needs.
Know the facts
When you take the place of a realtor or real estate agent, you need to have your facts straight. You should be prepared to answer any questions about the house, the contract, and the deal. A lack of knowledge or misinformation is a good way to ruin a prospective deal. In addition, it is important to note that your buyers will probably know that you are not using a realtor. It is important to let them know that you have already considered this when setting the purchase price.
Always retain a lawyer’s services
A FSBO transaction is a complex and overwhelming process. You have a lot on your plate and an effective real estate lawyer can protect your rights and financial interests through the process. An experienced attorney will ensure that you have the right documents ready and the terms meet your needs. It is always best to have someone on your side through every step.
Friedman Schuman is an experienced and dedicated legal resource for clients throughout Pennsylvania. We proudly serve clients facing a wide range of legal matters. If you require the services of an effective attorney, please contact Friedman Schuman today to schedule a consultation.
