If you are a first time FSBO home seller, you may be excited about the prospect of saving real estate agent fees, but nervous about making mistakes. While it’s true that you have a great opportunity to save money by doing it yourself, there are a number of pitfalls. Learn how to avoid them so you can enjoy the process of selling your home
Here are five common mistakes to avoid so that your sale goes smoothly:
1. Not listing your home at the right price – This may be one of the trickiest parts for home owners, but it is also a crucial element of selling your home. Of course you want to get top dollar for your home, but often homeowners have an inflated idea of what their home is really worth. On the other hand, unless you are 100% certain of your home’s value, you may risk pricing it too low. Check what other homes for sale in your neighborhood are priced at, and consider hiring an appraiser to ensure you get this part of the process right.
2. Not listing your home in the right places – We all know of the vast power, reach, and influence of the internet. Now is the time to harness it! Most potential home buyers (over 90%!) start their home search online. Make sure your listing is on all the big sites including the MLS. You’ll sell your home faster if you add as much details as possible and be sure to use professional photos and a virtual tour. Most buyers skip right past any listings without pictures.
3. Trying to do everything yourself – Doing the work of a real estate agent is a big job. Also taking on the work of a home appraiser, inspector, and marketing expert is inadvisable because 1) simply put, it is a LOT of work, and 2) it is highly unlikely you have all the knowledge of these experts. It takes more than one person to complete a home sale. From the mortgage broker to the real estate title company, you will work as a team to complete the sale. Your job is to make sure you have the best team possible. This means that while you may save money on real estate commissions, you will eventually have to spend money to hire certain professionals throughout the process.
4. Not pre-qualifying buyers – Nothing can be more disappointing or frustrating than getting to the table with an interested buyer who actually can’t afford your home. You can avoid this scenario altogether by checking that anyone wanting to make an offer on your home for sale has already met with a mortgage broker and been pre-approved for a mortgage.
5. Not having a network of trusted professionals – Unlike a realtor with years in the business, you won’t already have relationships with other professionals you can trust. You will need to trust certain aspects of the sale of your home to people you don’t know. But don’t be intimidated. Educate yourself on who can do the job for you, and who can be trusted to do it well. A real estate title company is one of the most beneficial professionals to have in your corner as they help make sure all your paperwork is in order, conduct a title search and provide title insurance, and oftentimes can even provide escrow, notary and impartial closing services.
Avoid these five common mistakes when listing FSBO homes for sale, and you'll set yourself up for a smooth, successful transaction.
If you are looking for a Ft Myers real estate title company, Title Junction specializes in a range of services that will make your FSBO experience easy and stress-free. If you are planning to list Ft Myers homes for sale, let us take care of the details. Call us today toll free at 866.415.6574.
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