Home for Sale
Can you SELL YOUR OWN HOME?
Why, folks have been selling their own real estate since, well, for a long, LONG time.
And there’s people that update their own kitchens, do their own landscaping, re-roof their own homes… heck, there’s thousands of folks that even build their own homes every single year!So don’t let anyone tell you that you can’t sell your own! But then again, the several thousand owner builder homes a year look like a drop in the ocean compared to the typical 1 million homes build every year…
The question is; is it the best choice. Owner-builders are typically professional builders, contractors, or those with strong construction backgrounds and experience. They know the business.
We’ve prepared a short quiz to help you spot some of the most common pitfalls. Your answers will determine if you are ready to sell on your own and perhaps help uncover some areas where you could be more knowledgeable or prepared.
All of the questions below require a simple “yes or no” or short response… and please save yourself a lot of time and hassle by answering them honestly.
- Do you have experience in negotiated high-dollar sales previously? Y/N
- Do you have access to information and are you willing to do the market research needed to price your home correctly? Y/N
- Have you toured at least 20 other homes in your area in the past few months and feel comfortable knowing what other seller have been and are now offering? Y/N
- Do you have access to a network of agents and buyers that you know have been looking for homes just like yours in your area lately? Y/N
- Do you have a goal in mind on the amount you can realistically count on to “net” (both best case and worse case) with sale of your home? Y/N
- Are you willing to handle the paperwork yourself or do you need help? If you need help do you have an attorney, or a mortgage lender, a “family” real estate agent or broker that will help you? Y/N
- Are you willing to negotiate face-to-face with a buyer (and maybe their real estate agent) determined to save the same money you are trying to save? Y/N
- Are you a “do it yourself” type? Y/N
- Are you familiar with the ever-changing internet marketing, are you able to create a large audience of eager buyers willing to pay market value for your home? Y/N
- Are you comfortable letting strangers into your home with little notice? Y/N
- Are you able to devote the time needed to prepare and market your home? Y/N
- Have you studied and committed to memory the questions to ask a buyer in order to determine if they are qualified to buy? Y/N
- Do you have a relationship with a top level, highly reputable, seasoned mortgage professional who agrees to be available to take your call or text message 24/7 to pre-approve/financially qualify a potential buyer for you? Y/N
- Have you decided on the type of information or ID you will require from strangers who want to see your home? Y/N
- Are you familiar with California’s Real Estate Disclosure Requirements? Y/N
- Do you know which environmental disclosures apply to your situation? Y/N
- As far as your asking price, how much negotiating room have you factored in?
- Have you prepared a price analysis that provides powerful, absolute evidence that your asking price represents a value? Y/N
- Does that analysis include the authoritative data source you used to set your price? Y/N
- Do you know which advertising methods give you the best response for selling real estate like yours? Y/N
- Once you have found a buyer, do you know how long it will take to complete all the steps to close on time? Y/N
- Are you available full-time to show your home?
- Are you confident you can determine the difference between a pre-approval letter and pre-qualified letter? Do you know what a Conditional Loan Approval is? Y/N
- Are you familiar with the normal and typical costs to sell in your area? Y/N
These questions can help you consider if you have the time, patience, expertise, motivation, insight and will to sell your home on your own.
There are other, similar tests about Real Estate Marketing and Internet Buyer Generation and Answering Buyer Inquiries that I am compiling as well, Check back to see them soon-