I am happy to report that we continue to see signs of recovery for the housing market. This often brings temptation to owners to consider selling their home themselves, aka FSBO, without using the services of a real estate professional. Sellers must realize their ability to negotiate will determine whether they can get the best deal for their home. In most cases, the seller is not trained and experienced in negotiation, but real estate agents are. Negotiation skills are not the only skills needed. For Sale By Owner sellers will meet many types of buyers and situations.
Here are a few other people or instances the seller should be prepared to meet:
- Buyers who want the lowest price possible
- Buyer’s agent who solely represents the best interest of the buyer
- Home inspection companies, who work for the buyer and will almost always find problems with the house
- Termite company if there are challenges
- Buyer’s lender if the structure of the mortgage requires the seller’s participation
- Appraiser if there is question of value
- Title company if there are challenges with certificates of occupancy or other permits
- Town or municipality if certificate of occupancy or other permits are needed
- Buyer’s buyer if there are challenges on the house your buyer is selling
- Banks in case of short sale
What does this all mean?
If you are considering taking advantage of the improving market, consider meeting with a real estate professional to discuss the difference they can make in process. It is likely you are selling the most expensive asset you own, why not get a second opinion to be sure you have put this in the hands of someone you can trust?