Should I sell my home without a REALTOR® ?
By Manuel Huitron
REALTOR® JB Goodwin
Selling your home can be a nerve wracking experience, especially for someone who has never done it before!
Should you sell your home without a REALTOR®?
I encourage anyone selling their home to have a specific game plan, especially if one is working without a REALTOR®.
I’d recommend thinking about the following items:
- How will the home price be determined?
- How long is it taking similar homes to sell in this market?
- What is the average price per square foot in that subdivision?
- Have you considered the downfall of having your home sit on the market for too long?
- How much money will you be having to pay for things like property taxes, utilities, storage facilities etc while the house doesn’t sell?
- Have you thought of the opportunity cost you will incur from this timely activity?
- Will you have the advertising budget and expertise to market the property?
- Will you have time to show the home to interested parties around the other person’s schedule?
- Who will you be letting in your home, do you even know this person?
- Are you willing to accept liabilities for any errors and omitions you may encounter?
- Are you familiar with the different documents and contracts needed to perform a successful Real Estate transaction?
- Will you have a database of over 10,000 REALTORS® possibly ready to show your property to their clients (time is money)?
- Are you familiar with surveys?
- Are you familiar with AFIDAVIT T-47’s.
- Are you familiar with what home warranty companies, inspectors, appraisers and Title Companies do?
- What may happen if there is a sudden change in the market and suddenly the price of homes drop or interest rates increase dramatically?
- Will you have time to search for another home while securing the sale of your older one?
- Where will you live in the meantime?
- Are you familiar with Surveys?
- What are considered inclusions, real property or real estate?
- Do you know what your home is zoned for (you could be surprised)?
The list can go on and on and I could bring up dozens of other reasons to use a REALTOR® instead of working without one, however if you still decide not to use one consider the following:
- Asking a Licensed REALTOR® to provide you with a free CMA (competitive market analysis), many REALTORS® will do so for free, including me.
- Advertise the property on Facebook Groups, with your Sphere of Influence, Instagram, LinkedIn, Open Houses, Craigslist, flyers at schools, flyers at community centers or offer to give a REALTOR® a commission to bring you buyers.
- I wouldn’t recommend showing the home to people who are not at least “Pre-qualified” for a loan, this will help you find out if they can afford the home, this will also let you know how serious they really are and finally and probably most important you will know who this person is. You don’t want to let just anyone in.
- If you have a 9 – 5 job, try to arrange to always show the house on the weekends while hosting Open Houses and accompanied by a friend or family members, this will help keep you safer, help you control your time better and set expectations to your potential buyers. If they don’t want to work with your schedule, they “may” not be that interested.
- Always know your bottom line, including your Net Sellers sheet that includes your closing costs.
- Speak to a loan officer about what to expect from different kinds of loans, will you be financing, will you accept VA loans, FHA, USDA, conventional etc?
- Do you need an attorney to write up a contract?
- Ask a REALTOR® or a Title Company if they can help you have a list of contracts necessary that will cover you from potential lawsuits for example: “Lead based paint disclosure”, “sellers disclosure”, “HOA addendum”, “Survey” etc.
- Consider working with a Buyer REALTOR® to help you find your next home, he/she may have a good game plan.
I wish you the best of luck and if you have any questions feel free to contact me at (210) – 274-2778
Note: This information is my opinion and is in no order formal advise or representation, if you wish to learn more I encourage you to do your own due diligence or hire a REALTOR®
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