List of Tips For Trying To Avoid Paying Listing Commission With For Sale By Owner Are you thinking about trying to sell your home, but you’d like to do it yourself to try and save a little money? Industry expert Monte Mohr has prepared some advice on how to go at it alone in today’s real estate market. A lot of people find themselves without a lot of equity in their homes and they are trying to save money by selling “For Sale By Owner”, or what we in the industry call FSBO. I am glad to help anybody, no matter what their goals are. Jessica from Mt. Juliet asked… “We have decided to sell our home this year but want to try to do it on our own. We watch you all the time on Channel 4 and appreciate the information you freely share. Can you give us some guidelines when selling without the help of a realtor?” Price You have got to price your home correctly. Presentation If you are not a good photographer it’s probably worth spending a couple hundred dollars to pay a professional photographer to come in and photograph your home. Online photos represent your home and people will assume that is what it looks like in person, so you shouldn’t cut any corners there. Internet Exposure You need to have a strong internet presence because 90% of buyers go online before they do anything else in their home search. Showings When you are showing your home, give the buyer some space. It is hard as a buyer to feel comfortable looking around when the seller is looming over their shoulder. Negotiating Make sure you know what your bottom line is as well as the lender they are dealing with because not all lenders are created equal. There are a lot of different factors to think about, in fact I have a list of over 100 things that can help people, and I’m happy to give that list to someone if they contact me directly. Robert in Spring Hill asks… “I bought my home 3 years ago and have no equity so I’m trying to sell my home on my own. Can you tell me what my closing costs will run when I sell?” This is really important to know. Your costs as a seller typically run about 1.5% of the sales price. But remember that 90% of qualified buyers are represented by a realtor so you’ll need to calculate a 3% broker’s fee when you’re figuring your costs; use a total of 4.5% if you are not using a real estate professional to sell your home. If you’re really tight on the margin the best way to calculate your bottom line, or what you need to sell it for to cover the expenses, is to take your loan balance and divide it by .95 and you’ll come up with a gross sales price that you need to get in order to cover all closing costs. Before we take the final FSBO real estate question of the day, I wanted to point out some new homes that hit the market in Bellevue Tennessee; they are worth checking out! Jessy and Melissa in Smyrna asked… “We are trying to sell our home ourselves to save the commission. My mother was a real estate agent several years ago and said she could help us do so. We have a sign up and an ad on a FSBO website but we haven’t gotten many showings. Can you give us any other recommendations to help us sell? We really want a larger home and want to get our kids in a different school district before school starts next year.” They are on a time clock and it sounds like they are going to buy another home. So in all sincerity, if you’re going to buy another home it doesn’t make any sense to go through the pain and suffering of selling For Sale By Owner when you can use my We Sell Homes For Free program. Doing so would be like going to an expensive restaurant and waiting on your own table, pouring your own drinks, fixing your own meal, washing all the dishes and then still being given the opportunity to pay $120 for that experience; it just doesn’t make any sense. With my We Sell Homes For Free program, we do everything for you as long as you’re going to buy another home with me. It just doesn’t make any sense to try For Sale By Owner if you’re going to buy another home. Let’s look at the Happy Customers of the week… Barb and Bill from Spring Hill recently closed on their home and they were first time buyers. They got into a brand, new home with no money out of pocket because they went through the THDA program. They are a great couple and they are thrilled with their new home! Jim in Hermitage needed to run to Florida because he’s the manager of a restaurant down there. We sold his home in 55 days during this tough market. Bret, also from Hermitage, moved her from Florida and didn’t know the area. We looked at a lot of homes until he found one he loved. He too was able to get into a beautiful home with no money out of pocket; he got his earnest (good faith deposit) money back at closing. He is a happy camper! Thank you for the privilege of helping. If you need help buying or selling your home, contact Monte directly.
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