How easy is it to sell your own home?

Question

I want to save myself around 2800 pounds by selling my house without an Estate Agent. How easy is it to sell your own home?

What is involved?

What is the hardest part?

Do I have to to anything more than find someone to agree to purchase my flat?

Where am I likely to go wrong?

Any and all answers welcome. Thanks for your time.

Answer 1

Right now the housing market is dreadful.  It would be hard to sell it now with a real estate agent but selling it on your own would be next to impossible.  My neighbors just sold their house through a real estate agent and it took the six months.  I find that people don't want to purchase houses that are for sale by owner.  They would rather work through a real estate agent.

Answer 2

If it were easy, I wouldn't have a profession to be in...  :)

That being said, it is possible to do it on your own, but it will be a full time job until it is sold.

You need to know several things...

- How to write Ads

- Getting your Marketing Schedule together to place the ads.

- How to properly describe your home to generate buyer calls when placing it in the MLS.  This is where the major internet sites will pull their information so it needs to be done correctly.

- Are you going to co-operate with brokers?

- How are you going to market your property to brokers & their agents?

- How are you going to expose your home to local buyers?  

- Regional Buyers?  

- National Buyers?

- International Buyers?

- Do you know which disclosures will be required by law?

- Do you know what the contract means that you will be putting together with the attorney or are you going to do it yourself with a FSBO package?

- What are you going to do about signage?

- Open Houses

- Broker Preview

- Will your home be on lockbox or will you have to arrange showing times around your work schedule?

- Are you the type of person who doesn't mind negotiating directly with the buyer?  Do you stand your ground without chasing people away or are you more reserved or too abrasive?

- How are you going to handle the deposit while the buyer is in his contingency period?

- Are you able to stay on top of the market in your area?

- Do you know the history and rate of sales to have your expectations in line w/the market?

- Etc...

If you want to sell the home on your own, I would contact a real estate attorney to get your questions answered before you have a buyer...      

Good luck w/your sale!

Answer 3

you need a real estate lawyer, and they will help you.

Answer 4

The hardest part about selling your house without an agent is dealing with buyers. It's a lot easier to tell your agent to go back to the buyer's agent and state that you will not accept anything less than $200,000 than it is to stand there in font of a buyer who is being stubborn and trying to get the greatest deal possible.

A real estate agent is not just the person who lists your house. They deal with title, escrow, other agents and potential buyers; They put out the sign, list your house and advertise it. Take all your calls and set up all your show appointments. They are the person who knows what has to get done, knows how to negotiate the best deals for you, and make sure you are not ripped off.  If you do it on your own, you will be in charge of all that yourself.

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