FSBO or Use a Realtor?

Selling your home can be extremely exciting, and it can also be exhausting! You’ll need to fix all those little problems that you’ve had on your TO-DO List for years.

You’re also going to need to make a very expensive decision: Are you going to try to sell your own home – For Sale by Owner (FSBO) – or are you going to pay a professional real estate broker? Either way…you’ll need to be patient! Selling your home can, and probably will, take some time. Especially in today’s competitive buyer’s market. It will also depend on YOUR local real estate market.

If you decide to do a FSBO you’re going to need to learn the process and the pitfalls of selling your home. Best place to start is to Learn the Lingo.

Got the terms down? Excellent! Here are some more resources to consider.

Everyone knows a Realtor, or once did as so many have left the business. Choosing the right person to sell your home is one of the most important steps of selling. Therefore, you must choose wisely.

At a minimum, speak with 2 or 3 brokers from different agencies. Ask them the same list of questions so you can compare their answers – apples to apples as we say. Specifically, you are trying to find out what sets them apart from their competition and what it is they are going to do to sell your house.

Above all, choose a broker that you feel comfortable with, like, and know is going to do a good job. Don’t be afraid to ask for referrals, and if you ask…CALL THEM! This person is going to help you make the biggest sale of your life so you NEED to know they are going to do a good job!

We have compiled a list of questions, with the help of our Realtors, that may be helpful to ask while speaking with prospective real estate brokers.

• How many years have you been in business?
• Is this your full time job? So many Realtors sell homes part time. Would you want a part time doctor to perform surgery on you? We didn’t think so.
• How long have you sold houses in this area?
• How many houses did you sell in the past month? Past year? Don’t ask beyond that because it was a different market that will never, ever return.
• What is your commission? Is this negotiable?
• If I were to work with you, how would you market my house to sell it quickly?
• Will you organize meetings with potential buyers and will you coordinate them personally or does someone do that for you?
• Can you give me names and telephone numbers of other families that have used your services? Remember, if they give you a list of names CALL THEM!

These are tips don’t cost a dime and will make a big difference on the marketing of your home. It is amazing how just a little attention to the details will add that special appeal that the buyer is looking for!

Ok – So you found the right person to help you sell your home. Or maybe you are going to sell it on your own, either way you need to have a Pre-listing Inspection conducted by a professional home inspector before you list it.

Eventually your buyers are going to conduct a home inspection. Don’t get worried, this means they are serious about buying your home. They are going to have an inspection; you may as well know what they are going to find by getting there first. Having a home inspection performed ahead of time helps is going to help in many other ways as well:

• It will allow your home to be seen through the eyes of a non biased and critical third-party.
• It will help you to price your home realistically and priced to sell.

A Pre-listing Inspection conducted by a professional home inspector will also permit you to make those necessary repairs ahead of time so that …

• Minor defects won’t become negotiating stumbling blocks later.
• You’ll have the time to get several estimates from contractors and settle on a reasonable price. You can also make the repairs yourself, if you are qualified. Remember the statement about the critical third party? Well the seller has one of those people as well looking at the home for them. If the repairs aren’t done correctly they may have to be done twice, at twice the expense!
• You could get lucky if your home is in good shape and encourage the buyer to waive the inspection contingency.
• It may alert you of items of immediate personal concern, such as radon gas or active termite infestation!
• It may help to relieve the buying prospect’s concerns and suspicions.
• It could help reduce your liability by adding professional documentation to your disclosure statement.

Most importantly it will alert you to immediate safety issues before agents and potential buyers tour your home. Leave copies of the inspection report, along with receipts for any repairs, out during showings and open houses for potential buyers.

Be sure the inspector you use is insured and licensed or certified (if your state requires) or at least belongs to a professional organization such as NACHI, ASHI, NIBI.

You can find an inspector nationwide at:

FindanInspector.us
The Home Inspector General
Appraisers & Home Inspectors

There are items that you need to attend to regardless of the Pre-listing Inspection. Here are just a few to consider.

Curb appeal is the first impression of all homes for sale.

• Keep your grass cut and yard tidy.
• Paint or power wash the exterior of the house (including window casings, shutters, and doors).
• Wash the windows inside and out.
• Check the gutters and chimney.
• Trim tress and shrubs and remove the dead ones.

Now that you have the outside of your home looking good – it’s time to go inside!

• Put a fresh coat of paint in the most used areas of the home. This will clean as well as brighten up the rooms.
• Wash the walls where paint is not appropriate (i.e. wall paper, paneling).
• Wash all floors and bathroom tiles.
• Shampoo all the carpets, especially high traffic areas.
• Get rid of clutter. Clean out your closets, garage, basement and attic. Use self storage if necessary or better yet have a garage sale and make a few extra bucks!
• Replace the furnace and AC air filters. It will help keep the dust down.
• Replace bathroom and kitchen fixtures that are worn or leaking. People will notice a leaking or worn-out faucet and get turned off – wouldn’t you?
• This next one seems like a no brain’er but you would be surprised…get rid of any bad smells in your home.
• Pay attention to pet or cigarette odors.
• 100% proven technique!!! Bake cookies! On the day you’re expecting a potential buyer, pop a batch of frozen cinnamon rolls, home-made bread, or cookies into the oven for a great aroma. They make your house smell like a “home” and they are a nice treat for people walking through.

Finally, if you are going to sell on your own you need to speak with a reputable title company. A title company can handle the title search and paper work for a very small fee and believe you me it is well worth the cost!