QUESTIONS:
1. Are you willing to give up evenings and weekends for the next three months?
2. Will you be willing to let strangers into your home?
3. Can you be ready to show your home day or night, on a moments notice?
4. Are you a risk taker?
5. Are you willing to learn to do new and different things?
6. Are you determined to save money on the sale of your home?
7. Do you want a quick sale?
8. Are you willing to handle the paperwork and marketing yourself?
9. Are you a patient person?
ANSWERS:
1. You have to be ready to show the house when the buyer wants to see it. Remember there isn’t an agent there to show it for you.
2. You also have to screen buyers yourself and then let strangers go into your home. If you’re concerned about security, then you’re not a good candidate to be a FSBO seller.
3. Spontaneity is needed. A potential buyer who calls, wants to see your place now. Telling the buyer to contact you later and you could lose the deal.
4. It’s riskier to venture into the unknown and sell FSBO rather than list; it’s also frequently quicker and more profitable.
5. You’ll have to work with attorneys, escrow and loan officers, inspectors and others. You’ll have to learn about sales agreements and other documents. It’s not hard, but it does require determination to succeed.
6+7. Proper motivation is paramount here; if you don’t want to save money and sell quickly then why bother going FOR SALE BY OWNER?
8. Regardless what other professionals are involved in the sale of your house, you will be required to do the majority of the paperwork.
9. There is no intermediary to blunt the buyer’s criticism, anger or frustration on your behalf, you will have to deal with it all then turn it into something positive. Are you prepared to do all the advertising to attract potential buyers?
10. This process may demand things from you that may not seem like a lot in the beginning, but can quickly overwhelm you, and may make you wish you had used a real estate professional.
Score (1 Yes = 1 point)
9-10 points you are a natural FSBO.
7-8 points you need to dwell on how much a 5 to 7% commission really is.
5-6 points Borderline, try it for a while and determine if it is too much aggravation.
1-4 points don’t waste your time. List your property with a Real Estate Professional.
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