Selling your home without a realtor can seem daunting, but it’s possible. For sale by owner (FSOB) is becoming popular in the industry, especially among homeowners who want to avoid paying crazy real estate commissions. While this process is beneficial, you need to be careful about every step you take.
Below are two mistakes to avoid in for sale by owner:
1. Not seeing yourself as the realtor
Since you are not working with a real estate agent, you should view yourself as one. Although you are the seller, you should approach the process as your own realtor. This means being well-informed about the market, the best platforms to list your home, how to negotiate and so on.
Further, you need to be conversant with the specifications of your home and understand some real estate terms. This way, you won’t lack answers when a buyer asks crucial questions.
2. Being in a hurry to make a deal
One of the benefits of working with a realtor is that they have a network in the industry. They may have a prospective buyer for your home within a short period. However, since you won’t be working with one, it may take you time to find one. But being in a hurry to make a deal is a mistake that can cost you – you may meet scammers or settle for less than you could.
Nonetheless, if time is of the essence, posting quality pictures in the right listings and managing to turn yourself into a realtor can attract the attention of buyers sooner.
For sale by owner allows you to control the sale of your home. You get to choose your ideal process and buyer. It will also be best to get legal help to make informed decisions, avoiding costly mistakes.