Saving money is top of mind when people consider becoming unrepresented sellers (formerly known as FSBOs). More often than not, you just can't convince them that there is more to it than a sign in the yard, an add in the paper and opening the door to let strangers in). I wish it were that simple. Brenda knocks another one out of the park. Click her link below to comment (comments disabled on this post).
Things to Think About Goin it Alone Selling Your Schertz Texas Home (For Sale by Owners)So, you are thinking about goin it alone to sell your Schertz Texas Home? I can certainly understand that. I am sure that you have heard that not hiring a Realtor will save you a lot of money on the sale of your home. And...I would agree with you...if that sale goes through without a hitch and you are prepared for everything that you may encounter.I am not going to sit here and tell you that there is no way you can successfully sale your home doing a For Sale by Owner your home in Schertz, TX.
That simply isn't true. It can happen, just like you can pretty much do anything yourself these days. You can fix your own car, you can do your own home improvement projects and, if you wanted to, you could probably represent yourself in court. There all types of directions and how to's on the internet that will tell you the "quick and easy way to save a buck or two by doing it yourself" and with their directions, IT WILL LOOK PRETTY DARN SIMPLE...probably until you pull your entire car apart :)...I am also not going to try and scare you by telling you the boogie man is coming to your house and will rob you or worse. This, unfortunately can happen whether you are selling your home or not. I can tell you though, that when you stick your sign in the yard, the potential buyers you may get, may not be qualified to buy your home. More often than not, you will get a lot of lookey loos just starting their home search or buyers who "think" that they will get on heck of a deal by purchasing a For Sale by Owner home. Which brings up another thought....Where did you get your price? Did you just look around at your neighborhood to see what was for sale? Did you think about what you paid for your house and then add a certain percentage for each year you lived there? Did you..(groan)..look up your Zestimate on Zillow? How did you determine what your selling price would be and what is your bottom line? Are you just looking to pay off your mortgage or are you hoping you will make tons of money on the sale? Pricing a home can be a delicate situation. As a Schertz TX Realtor, I compare Sold homes in your neighborhood and immediate area to yours for the past 3, 6, and 9 months to come up with a price range of what your home may sell for, (of course there is a little more involved). Pricing too high will keep qualified buyers away and of course pricing too low may bring you a quick buyer but may leave you lacking. Just stuff to think about.Now back to potential buyers. There are many Realtors out there who will not bring their qualified buyers to a FSBO (For Sale By Owner). Why? Well, for a couple of reasons. First, you don't want to pay a commission. Buyer's agents are nice people, but they do need to earn a living. Secondly, even if you offered a percentage to the buyer's agent, they may not feel like working both sides of the transaction when they can usually get a higher percentage for such a thing. There may also be some legal implications for the Realtor as you may get the idea that since the Buyer's Agent is coordinating the transaction, that they represent you. They don't. They are also highly trained negotiators who will, (I promise you), negotiate in the BEST INTEREST of THEIR client. As they may be better prepared for the market than you are, this can put you at a slight disadvantage. Just sayin.Perhaps you have found a buyer. Were you able to ensure that they were qualified with a loan? I would personally ask to see a preapproval letter from their bank or lender. Perhaps they told you they would be paying cash. Then make sure to tell them to give you proof of funds. If they get offended, well....I would be a tad worried. If you have asked for this, did they present you with the contract? Do you know what they are asking for on that contract? I believe that you are pretty smart and can read a contract, don't get me wrong, but those things can get just a little complicated. Do you know terms like Earnest Money, Option Period, Closing Costs, VA loan, FHA loan, etc? Do you know what they mean to you or for you? Do you know what your bottom line will be given the sale makes it to closing? Do you know what a closing is? Oh...do you have a Seller's Disclosure filled out ready to give to them? Do you have an Home Owner's Association and if so, do you have the covenants and documents to give to the potential buyer? Did you know that if you don't provide the Seller's Disclosure or the HOA documents on time then the buyer can terminate the contract with no adverse affects and get their Earnest Money returned? Anyone can go to the Texas Real Estate Commission or TREC and download the proper disclosures and contracts that are a part of the sale, but do you know how to read them? Just some thoughts to think about.Where are you going to take the buyer and the contract by the way? Have you thought of a Title Company. Are you sure you own your house free and clear? Are you sure there aren't any liens against you that call the ownership of your home into question? What about inspections, repairs, appraisals? What do you do if the deal falls through? Just more stuff to think about.Well, maybe you haven't found the buyer yet or are just starting. How do you get the word out that you are selling your home? Putting a sign in the yard is great for those who just happen to drive by, but what about everybody else? You can go to a Flat Fee MLS (Multiple Listing Service), and pay a couple of hundred bucks to have some basic photos and a description done. As the MLS is a tool for Realtors, this will let them know about your home and if they have any potential buyers, they will be notified. Of course we discussed Realtors wanting to work with For Sale by Owners earlier. By the way, now that your listing is on the SABOR or even NBCLAR MLS, it will automatically be pulled into Realtor.com and Trulia.com so you will get some very basic advertisement from doing this. This can be a good thing. Problem is, is that your home will probably be far down on the list for potential home buyers because of few pictures and a very limited description. Buyers like looking at homes with pictures and virtual tours, (things I provide as a Schertz TX Realtor). Just think of what you like to look at if you were looking at homes.Probably the biggest thing to think about before you go it alone is that you are Going it Alone. There are Flat Fee Services out there who will put your home on the Internet for a price, and some will even tell you that they will read the contract for you and explain it to you. Well, ummm...terrific, but ultimately You Are On Your Own. There is no representation for you. A lot of those situations above are why it's convenient to have a Realtor, but the most important reason is for someone to be an advocate for You in the sale of your Schertz, TX home. Most often having a Realtor represent you will save you time, heartache, headaches and get you the most money out of the sale of your home than you will. Why? Because, (and someone told me, I think my English teacher, never begin a sentence with because), just like the mechanic is trained, ready and able to put your car back together if you pulled it apart, I am trained, ready and able to be your Schertz TX Realtor!