Selling your own property

Hermit Cover · 12-27-2015, 01:49 PM

Usually a homeowner will try to sell the home "By Owner" for one of two reasons: the first is to save paying a professional real estate company a commission. The second is simply because the owner wants to do all those things a Realtor does because they have time to kill and think selling a home is open house/ad in the paper/internet and thats all there is to it. The process sounds simple but overlooks the most important part...Qualifying that buyer before he steps into the door.....or not. Open houses are great for lookers but are a pain for buyers......when a buyer is serious they wish to spend their time being with someone they can trust to educate them about the area, about tax rates, about location, about comparable sales, about financing, schools, community ammenties and on and on. Realtors do this 24/7 and have buyers waiting for a particular property to come on the market.....and about that commission. A buyer is smart enough to know why a seller is For Sale By Owner...and will discount the amount of commission off the asking price before making an offer.....The buyer and seller are both trying to save the same dollars and that makes for tough negotiation right from the start. You might consider offering to pay a buyers commission to a Realtor with a ready buyer. Oh, and good luck!

12-27-2015, 01:49 PM	#3
Hermit Cover Senior Member Join Date: Oct 2002 Location: Hermit Cove Posts: 354 Thanks: 20 Thanked 68 Times in 40 Posts	Fsbo Usually a homeowner will try to sell the home "By Owner" for one of two reasons: the first is to save paying a professional real estate company a commission. The second is simply because the owner wants to do all those things a Realtor does because they have time to kill and think selling a home is open house/ad in the paper/internet and thats all there is to it. The process sounds simple but overlooks the most important part...Qualifying that buyer before he steps into the door.....or not. Open houses are great for lookers but are a pain for buyers......when a buyer is serious they wish to spend their time being with someone they can trust to educate them about the area, about tax rates, about location, about comparable sales, about financing, schools, community ammenties and on and on. Realtors do this 24/7 and have buyers waiting for a particular property to come on the market.....and about that commission. A buyer is smart enough to know why a seller is For Sale By Owner...and will discount the amount of commission off the asking price before making an offer.....The buyer and seller are both trying to save the same dollars and that makes for tough negotiation right from the start. You might consider offering to pay a buyers commission to a Realtor with a ready buyer. Oh, and good luck!