Many people today opt for the ‘for sale by owner’ method and learn how to sell their home privately to save thousands of dollars in realtor commissions. Being a ‘For Sale By Owner’ seller can give you the certainty of saving up to 3% on agent commission and the potential to save 6% if the buyer is not being represented by a real estate agent. But if the buyer is represented by a real estate agent, you will have to pay half of the commission. So even if you are a ‘for sale by owner’ seller who has a thorough understanding of how to sell your home privately, it is likely that you will be dealing with a buyer’s real estate agent.
Most sellers benefit from their agents’ access to Multiple Listing Services (MLS). Fortunately, we at Minus The Agent provide real estate services that can help you sell your property effectively without having to pay thousands of dollars in real estate agent fees. Minus The Agent puts you directly in touch with genuine buyers or tenants so you can successfully sell or rent without the need for an agent. By listing your property on high profile and visible websites, domain.com.au, realestate.com.au etc., Minus The Agent gets your property and puts it on the market in front of thousands of potential buyers. Minus The Agent also provides end-to-end support without helpful marketing tools so sellers have a smooth home selling process every time.
Show yourself as a professional agent
As a ‘For Sale By Owner’ seller who has learned how to sell your home privately, you must act like a professional real estate agent while showing the property to potential buyers and their agents. Preparing the house, preparing it for sale, and getting it ready for sale are the basic requirements on your part. But as a FSBO seller, he needs to be at his best while showing his home to the potential buyer and his agent.
Make sure you have the knowledge and understanding of your property’s structure, plumbing, electrical, safety and security systems, and HVAC systems so that when potential buyers or your agent ask you a question, you have the right answer. . Be sure to mention all the necessary details about the house to visitors, such as new carpet, fresh paint, or any other major construction or repairs that have recently taken place.
Trade like a professional broker
In order to sell your house and earn a large amount of money, you must be objective. Yes, it is your home and you have your memories in that house, but at the end of the day, it is a financial asset. So, negotiate the deal price as much as you can, but don’t push it too hard to scare off the buyer. In addition, there are other things that you can negotiate beyond the price. This includes appliances, closing date, and closing costs.
Be sure to carefully read the purchase agreement written by the buyer’s agent. Although it is an additional expense, hiring a lawyer who can help you with legal work can do wonders for you. Unless you have significant experience selling a home, having a real estate attorney by your side will give you the peace of mind you’ll need throughout the process. The attorney will not only help you review contracts, evaluate complex mortgages or leases, and complex offers, but will also tell you what, by law, you must disclose to potential buyers and help you formulate a disclosure agreement.
Close like a professional agent
The best way to prepare for closing costs is to ask a lender about costs before you even start looking for a home to buy. This is known as a mortgage pre-approval and can help you understand the various closing costs associated with the deal so you can plan your funds accordingly. Closing costs are often higher than most buyers initially assume. It is also recommended to budget for the down payment in addition to closing costs. The home buying process is quite long, giving you plenty of time to organize closing cost funds, but make sure you’re prepared to pay them before you make an offer on the home you want to buy.
