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Selling by Owner Tips
Do strangers scare or intimidate you? If you're planning to try to sell your home yourself, you'll have to get used to it. You'll also be opening yourself up to potentially dangerous situations and legal liabilities. That's why even many experienced real estate agents will hire another agent to list their own home. Even so, the lure of saving the usual six percent sales commission is hard to ignore, because it can add up to a significant portion of your equity. But if you're going to try to sell your home yourself, you'll need to become an expert in a number of areas. First, you must understand local and national real estate laws and become adept at sales techniques. Visiting open houses in your market area can help you to learn the methods used by successful real estate agents. Once you feel comfortable with real estate law and the sales process, you can begin working toward earning the sales commission yourself. Don't think of it as saving money, because you'll soon discover that selling a home can be hard work, so you might as well pay yourself the commission. Like any other job, selling a home requires knowledge and skills for success. Besides reading books, newspaper articles, and doing Internet research, you can seek help from escrow officers and mortgage lenders. You'll find them quite helpful, because they hope you'll use their professional services if you succeed in selling your home. Therefore, it pays to make friends with an escrow officer and a lender long, even before you've located an actual buyer. Whether you use a real estate agent or not, a mortgage broker will be happy to provide free financial flyers to potential buyers. Offering zero or low-down financing, and being willing to help with closing costs could be just the incentive necessary to a entice a buyer into choosing your home. Research your sales price carefully - Check www.realtor.com and your local MLS listings to price your competition - Request a property profile of your home from your local title office Experiment with your sales price by running a small ad. If you get a sizeable number of calls, you'll know you're in the right ball park. If no one calls, either your ad isn't effective or you've priced your home too high. On the other hand, if your phone never stops ringing, you've probably underpriced your home. Pricing too high will cost you time, extra mortgage payments, advertising costs, and credibility. If your home's been on the market a long time, you'll hear comments like this from prospective buyers when you talk to them on the phone: "Oh, you mean it's that house that's been on the market forever? No, thanks, there must be something wrong with it." Selling a home isn't easy, even for a real estate professional, but you can sell your home yourself, if you're willing do your homework and then earn your commission, through hard work and a great deal time. (c) Copyright 2004, Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Joy to the Home, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
MORE RESOURCES: Real estate transactions top $4M for Jan. 9-15 Steamboat Pilot & Today Aspen Real Estate Snapshot Jan. 20, 2025 Aspen Daily News These 8 charts show what bubble-spotter Ivy Zelman thinks will happen in the US real-estate market after the least affordable year since 1984 Business Insider Real Estate Transactions, Jan. 20 edition Hopkinton Independent Barron Trump business partner clarifies future of luxury real estate venture: 'Will not be relaunched' Fox Business The U.S. Government Has a Landlord, and Trump Isn’t a Fan The Wall Street Journal 1-21-25 *INTERVIEW* The Denver Area Real Estate Market Expectations for 2025 with Ed Prather iHeartRadio Australia’s Clayton Utz Takes Real Estate Partner from Ashurst Law.com International New report predicts rough 2025 for Las Vegas Valley residential real estate Las Vegas Review-Journal RioCan Real Estate Investment Trust Announces Offering of $550 Million of Senior Unsecured Debentures Business Wire Barron Trump following in dad Donald's footsteps as he prepares to launch luxury real estate venture Hindustan Times In addition to its new Delano office, this firm is now opening on the west side, too - Wichita Eagle Decoded: The ‘behind-the-scenes demands’ over Clear Cooperation Real Estate News Real Estate Property Sales filed filed Jan. 8-12, 2025 Fauquier Times Real Estate Transactions | 1-15-25 The Republic-Times The Next Big Thing: Market Trends 2025 to explore the future of Southwest Florida’s real estate market on March 20 Priority Marketing Barron Trump reportedly following in father's footsteps, launching his own luxury real estate venture Fox Business Anywhere Real Estate’s Charlotte Simonelli on navigating 2025 with financial discipline and the help of AI HousingWire Accurately analyzing the local real estate market Bitterroot Star Kirkley offers 2024 DeSoto County real estate market trends and 2025 outlook DeSoto County News Canadian Real Estate Firm Opens Devenir Construction to Local Self-Storage Developers, Owners Inside Self-Storage Enterprise Community Development Names Zachary Marks as EVP, Head of Real Estate Development citybiz APCO's Camarco Handles Bain's Real Estate Deal O'Dwyer's PR News How Northeastern students are redefining real estate with purpose and perspective The Huntington News Brown & Riding names Lally real estate practice leader Re-Insurance.com FINE PRINT Real Estate Brown County Democrat Revolve Real Estate, for all your real estate needs PAHomePage.com Chicago real estate brokers accused of discriminating against housing voucher holders Crain's Chicago Business Central Texas real estate agent shares insight on the 4,000+ homes sold in Bell County in 2024 25 News KXXV and KRHD Real Estate Transfers Fairburyjournalnews Radio Real Estate 1/18/25 My Bellingham Now Americans Can Easily Buy Real Estate in These 8 Countries House Beautiful Energy Value: A New Imperative in Assessing C&I Real Estate Microgrid Knowledge A horse-lover's haven in Middleburgh - Real Estate Roundup The Daily Gazette Barron Trump launches real estate company as father Donald reclaims US presidency The Times of India Real estate transactions recorded from January 0-13 Americus Times-Recorder Texas Permanent School Fund adds to $250m real estate IPE Real Assets Redfin Welcomes December Agent Hires Redfin News Drake Lists Beverly Hills Estate for $250K a Month While Expanding Luxury Real Estate Empire The Source Magazine LA fires spark a call for real estate ‘unity’ Real Estate News January 14-16 Gulfport Real Estate Sales The Gabber Newspaper West coast real estate firm acquires first Valley property in Tempe Daily Independent These Trump executive orders could impact real estate The Real Deal Hernandez Development, XSITE Real Estate close on site for future Deer Park self-storage facility REjournals.com Undercover sting exposes rampant housing discrimination across Chicago area, watchdog group says WBEZ Chicago Lange Real Estate expands residential development with new teams, office The Business Journals Pinellas Beaches Real Estate January 14-17 The Gabber Newspaper Inside the Gaza Deal: How a New York Real Estate Developer Took on Netanyahu and Hamas The Wall Street Journal Barron Trump's luxury real estate business 'teased with five word statement' from friend The Mirror US 'It's going to hurt': Real estate expert discusses how Trump's deportation plans could affect housing Yahoo Finance 10 Years In Prison For Former Real-Estate Attorney Jersey Shore Online Bill Ackman Offers $1B For Real Estate Giant Howard Hughes To Emulate Berkshire Hathaway Yahoo Finance Resilient California Housing Market Defies Challenges in 2024 Norada Real Estate Investments Barron Tower? 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