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> Why People are Afraid to Buy From You
Attention: For Sale By Owners!
by
Unknown Author
Why People Are Afraid To Buy From You!
Many homeowners believe that to maximize
their profit on a home sale they should sell it themselves.
At first glance, they feel selling a home is simple and why
should they pay a broker fees for something they could do
themselves?
However, close to half of the FSBO's said that they would
hire a professional next time they sold. Thirty percent said
they were unhappy with the results they achieved by choosing
FSBO. Why?
Many FSBO's told us that the time, paperwork and everyday
responsibilities involved were not worth the amount of money
they saved in commissions. For others, the financial savings
were even more disappointing. By the time they figured the
amount of fees paid to outside consultants, inspectors, appraisers,
title lawyers, escrow and loan officers, marketing, advertising...
they would have been better off having paid the broker's fee
which would have included many of these charges up front.
Selling a home requires an intimate understanding of the real
estate market. If the property is priced too high, it will
sit and develop a reputation for being a problem property.
If the property is priced too low, you will cost yourself
serious money. Some FSBO's discovered that the lost money
as a result of poor decisions outweighed the commission.
Before you decide to sell FSBO, consider these questions and
weigh the answers of assuming the responsibility versus employing
a professional. A little time spent investigating up front
will pay off tenfold in the end.
Questions To Consider: Do I have the time, energy,
know-how, and ability to devote a full forced effort to sell
my home?
One of the keys to selling your home efficiently
and profitably is complete accessibility. Many homes have
sat on the market much longer than necessary because the owner
was unwilling or unavailable to show the property. Realize
that a certain amount of hours each day is necessary to sell
your home.
Am I prepared to deal with an onslaught
of buyers who perceive FSBO's as targets for low balling?
One of the challenges of selling a home
is screening unqualified prospects and dealing with lowballers.
It often goes unnoticed... how much time, effort and expertise
it requires to spot these people quickly. Settling for a lowball
bid is usually worse than paying broker commissions.
Am I offering financing options
to the buyer? Am I prepared to answer questions about financing?
One of the keys to selling, whether it's
a home, a car... anything, is to have all the necessary information
the prospective buyer needs and to offer them options. Think
about the last time you purchased something of value, did
you make a decision before you had all your ducks in a row?
By offering financing options you give the home buyer the
ability to work on their terms and open up the possibilities
of selling your home quickly and more profitably. A professional
real estate agent will have a complete team, from lenders
to title reps for you to utilize...they'll be at your disposal.
Do I fully understand the legal
ramifications and necessary steps required in selling a home?
Many home sales have been lost due to incomplete
paperwork, lack of inspections or not meeting your states
disclosure laws. Are you completely informed of all the steps
necessary to sell real estate? If not, a professional would
be a wise choice.
Do I have the capability of handling the legal contracts,
agreements and any disputes with buyers before or after the
offer is presented?
Ask yourself if you are well versed in legalese
and if you are prepared to handle disputes with buyers. To
avoid any disputes it is wise to put all negotiations and
agreements in writing. Many home sales have been lost due
to misinterpretation of what was negotiated.
Have I contacted the necessary professionals....title,
inspector (home and pest), attorney, and escrow company?
Are you familiar with top inspectors and
escrow companies? Don't randomly select inspectors, attorneys,
and title reps. Like any profession there are inadequate individuals
who will slow, delay and possibly even cost you the transaction.
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