Owning a home is a great achievement for anyone. Your home should be something to be proud of. That’s why when it comes to selling, you may be interested in going for the For Sale By Owner route. While selling your home yourself is very rewarding, it also comes with a lot of challenges. Here are six questions to ask yourself before you take that dive alone.
1- Are you able to price your estate properly?
When selling your own home, finding the right asking price can be tricky. If you ask for too little, then you might not make what your property is worth. On the other hand, if you ask too much, you might deter potential buyers altogether. When trying to find the right price, try spending some time researching rates for homes in your area.
2- Can you market your house effectively?
Being able to set a price point is only one part of selling your home. The next step is marketing. This is where real estate agents have the upper hand. Agents can get properties listed and put in front of a network of buyers. Another challenge for many is the budget for advertising. Putting out an ad or getting signage made can quickly become a costly endeavor.
3- Do you have the time it takes?
It’s no surprise that selling a house takes some serious time and dedication. It takes time to schedule property viewings and get offers on a home, not to mention working in other people’s schedules to your own. You might have to work for many hours during the weekends and holidays. One of the biggest issues many sellers run into is having to drop everything at a moment’s notice to meet an interested buyer.
4- Can you handle all the legal requirements?
Arguably the most complicated part of selling a home falls under the legal requirements. Missing paperwork can lead to a whole slew of issues. Real estate agents are trained experts with the process of paperwork and any mistakes made are their responsibility. When selling your own home, it is a great idea to hire a real estate lawyer to be certain that all disclosure statements are correct.
You will need to have your home inspected and make any repairs necessary before listing. After you have the repair list, hiring a professional to make the repairs is highly recommended.
5- Can you handle negative criticism?
After all the legal requirements, repairs, and listings are finished, you are finally ready to have showings of your beautiful home. The only issue is, not everyone will find it as charming as you do. People can be spiteful at times, so be prepared for the criticism and don’t take anything personally.
6- Can you negotiate?
Knowing how much your home is worth is only one part of the selling process. A difficult task is negotiating offers from multiple buyers and settling on the highest offer. Remember, your goal is to make the most profit possible while the buyer’s goal is to spend as little as possible.
If any of these questions left you feeling discouraged about selling your home, just remember that you don’t have to sell alone. Call one of our amazing agents and let us help make the process of selling your home seamless and stress-free!