Selling FSBO Real Estate In The Information Age
If you’re a FSBO seller, or thinking about becoming one, you’re asking yourself: exactly what does a real estate agent do to sell a home? Your next question should be: Can I do this myself? Here are some FSBO tips for listing and selling FSBO real estate.
Information is king. Real estate agents provide potential buyers with a lot of information about not only properties for sale, but also mortgage lenders, attorneys, home inspectors, appraisers and other professionals a buyer may need or want to consult with before purchasing a home.
If you’re a FSBO seller, you should be doing the same thing. You are your own real estate agent, so be prepared to act like one. FSBO real estate listings should provide complete information about the home and the property it sits on. You’ll need to prepare and provide the same disclosure forms, the same warnings, disclaimers and property descriptions that agents provide. Make purchasing your home easy on your potential buyers.
You may wish to have your home inspected and appraised. This will give you the opportunity to correct any defects in the home that will diminish your sale prospects. Have the inspector’s and appraiser’s reports handy for potential buyers. Also provide evidence of all completed repairs and municipal inspections on the property.
You would do well to have a list of independent appraisers handy. Be sure to include FHA-approved appraisers if your home is likely to attract first-time buyers. Also have on hand information about FHA loans and lenders, current mortgage rates at local and national lenders, and a list of comparable homes in your neighborhood that have sold recently.
Provide a list of real estate attorneys. If you’re working with an attorney yourself, don’t include your attorney on the list. It’s not ethical for an attorney to represent both sides in a single transaction. After all, if he works for both of you, whose interests does he represent? You may however, ask your attorney to recommend other qualified real estate attorneys for your potential buyers.
Provide information about the local school district, including the local elementary, middle and high schools. Show recent standardized test results or other measures of quality. Also prepare information about private and charter schools in your neighborhood.
Include information about the current tax rate on the property. Include not only dollar amounts, but also the mills that are assessed on each property. These should be available from your local assessor’s office. List information about any special assessments that you’ll be paying off when you vacate the property. That will reduce the overall tax rate on your home. Also indicate any special tax treatments your home receives and when those treatments expire.
Providing accurate information is key to establishing your credibility and your home’s worth to a buyer. Be prepared to offer as much information as a real estate agent does, and your potential buyers will realize even greater value in looking at FSBO real estate.
Michael Ranger is currently Director of Operations for http://www.24hourfsbo.com and Alliance Marketing Concepts, LLC. 24hourFSBO is a real estate marketing website that offers homeowners the information and tools need to sell their home by owner.Ranger has spent many years in the real estate industry as a very successful realestate broker. Ranger has recieved many awards and acknowledgements for his level of service and production.
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