Benefits of For Sale By Owner
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There are two ways to sell your home: by going through a realtor and by doing it yourself. As with anything that requires professional assistance, selling your home with the aid of a realtor is going to cost you. A realtor will handle all facets of your home sale, from advertising to negotiation to working through the closing. On the flip side however, selling your home for sale by owner can also cost you, but in a much different way.
The choice comes down to the question of what you would most like to save, time or money. By using a realtor you will save yourself some time. If selling your home for sale by owner, you will indeed save yourself loads of money because the only thing you are paying for out of pocket is the cost of your advertising methods.
Selling your home through a realtor can be not only an expensive method but also a difficult selection process when trying to decide which real estate agency and agent to go through. Once this decision is made, you must now work with the realtor to negotiate your terms and conditions for the sale of your home.
The realtor is paid according to the final selling price of your home. A commission of anywhere from 5 to 7 percent is charged at the closing. It goes without saying in this situation that a benefit of for sale by owner is the savings associated by not having to pay your agents commission. Simply put, you get to keep the proceeds of selling your home if you do it yourself; and that can total thousands of dollars in your pocket.
Your for sale by owner home does not get individual exposure on the level that would be given to it if you were to use a realtor. You will be solely responsible for exposing your home to potential buyers. CentralWI By Owner will help you expose your home to more buyers than you could do by yourself.
Benefits you’ll receive by listing with CentralWI By Owner include: a for sale sign, an online listing, and printable property brochures. A URL with your homes address will also be purchased, which you can use to direct more buyers to your listing. And because over 80% of home buyers start their search online your home will naturally be exposed to more buyers as they bounce around the internet finding their next home.
Realtors are able to list your home on the MLS, or Multiple Listing Service. This is a long list of homes being offered for sale by numerous real estate agencies. Once again, your for sale by owner home will not be given the specific exposure it could be given if you do your own advertising. The MLS has taught home buyers to expect to see pictures, room sizes and a description of the respective homes. Are you able to do that?
The true benefit of selling your home for sale by owner versus utilizing a real estate agency is the control factor. You are in complete and total control of the entire transaction from start to finish. This is often the most influential factor in selling for sale by owner. With yourself in the proverbial driver’s seat, you’re free to advertise in the way you see fit and to use the method you feel is most appropriate. You are also free to keep all profits from the final sale, and this is usually enough to reassure the seller that the for sale by owner route is the right path to take.
For Sale By Owner Property Disclosures and You
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As a for sale by owner home seller, you are responsible for completing many of the steps that a real estate agent would typically handle for you. Most likely you’ve already fixed up the interior and exterior of your home, set a reasonable asking price for your home, and have begun advertising your home for sale.
Now you’re ready to accept an offer on the home, right? Well, not quite. Before you begin entertaining offers from prospective buyers, you first need to prepare property disclosures.
Property disclosures for a for sale by owner home includes the Real Estate Condition Report. This is information that pertains to the property’s condition or location. Examples include information like the age of the property, issues with the property, and easements that might extend beyond property boundaries. Any of these facts could affect the buyers decision to purchase the home and must be disclosed.
You are required to fill out property disclosure forms about your home. If you are not sure what property disclosures you have to give you can consult a real estate professional such as an agent or an attorney. These professionals are well versed in real estate law and can give you guidance on the necessary information to give your buyers. You can also contact me as well and I’d be happy to answer any questions you may have.
Another example of a property disclosure that you must complete is the lead-based paid disclosure if your home was built prior to 1978. This is a property disclosure that is required by federal law and must be provided regardless of the state where you selling your home. With this property disclosure, the buyer is given 10 days to conduct an inspection for lead based paint. You could face a lawsuit if this is not done and the buyer later discovers that the home indeed has lead paint.
Buyers must also be given material facts. This is any information about the home that would affect the buyer’s decision to purchase or the price they would offer for your home. You are required to tell buyers any defects about your home, especially if these defects could potentially cause the buyer not to ultimately complete the purchase of your home. At first thought, you might be cautious to reveal this information because it could cost you a sale; but consider the alternative of being sued for thousands of dollars because the buyer was negatively impacted by a material fact that you were required to disclose.
While it might not first seem like it, property disclosures are designed to protect both the buyer and the seller of your for sale by owner home. Buyers are given all the facts they need to make an informed purchase decision. Sellers are protected from lawsuits by buyers that claim they were not informed. You should keep a record of property disclosures given to your buyers, especially the buyer that ends up closing the deal.
Another Home Sold!
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Another home owner has been successful in selling their home using CentralWI By Owner.
This makes 3 homes sold in previous three months, with a savings of approximately $8500 in commission costs for each home owner; with a grand total of approximately $26,000 saved! The homes sold have been in Stratford, Marshfield and now Wisconsin Rapids.
A main benefit of listing online is the ease in which a prospective buyer is able to view a home’s information. Each home that has sold was viewed over 100 times per month by prospective buyers and two of the three home owners mentioned they did not do any extra advertising outside of the CentralWI By Owner for sale sign and the internet listing.
More and more homes are coming on the market as we get closer to the spring buying season. I’m available for questions at info [at] centralwibyowner.com. I’m happy to help anyone interested in selling fsbo and I look forward to continuing to help save thousands of dollars in commission costs.
Helping to Create a Positive Real Estate Experience…
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Your Goal: Sell your home in the shortest amount of time, while receiving the highest sale price possible.
My Goal: To provide you the tools to allow you to reach your goal.
So really, we’re perfect for each other…
But in all seriousness, let me explain why listing your home with CentralWI By Owner will allow you to reach your goal.
Reason 1: Easily provide buyers with generous amounts of information
Most places you advertise your home will limit how much information you can include or you’re charged for the number of words you use. Not here. Your listing includes:
- an unlimited amount of space to describe your home
- dimensions for each room in your home
- directions to your home
- 8 color pictures
- plus other specific details of your home
View this listing in Stratford which sold after being on the market for only 83 days. Notice the detailed description. The homeowners highlighted specific items they wanted included and I wrote the description so it would appeal to the most possible buyers. (Note: the original listing included 8 pictures; I removed most pictures after the home was sold.)
Reason 2: Breakdown all buyer barriers
Why give a buyer any reason to not contact you about your home. By listing online all buyers will have enough information to contact you. Buyers are used to seeing more information than a sign and a short Buyers’ Guide ad.
Reason 3: Save money in your other advertising
Easily shorten your other forms of advertising because you can direct a buyer to your online listing. Every week you advertise your home in the newspaper or Buyers’ Guide you’ll save yourself money.
Reason 4: Increase exposure to buyers by including a link in your Buyers’ Guide ads
By including a link in your ad, buyers who are using the Buyers’ Guide websitewill be able to go directly to your online listing. This will instantly set your home apart from other homes listed.
Reason 5: Ready to print flyers
You can print flyers directly from your listing. Keep extras and hand out to anyone interested. You’ll also receive a brochure box which is attached to your yard sign, keep the box full for people passing by.
Reason 6: Easily change your listing
After your home is listed you can login and modify your listing at any time. Change your price, listing description, pictures, etc. A login and password will be created when you set up your listing.
Reason 7: Easier to ‘sell’ your home to others
You’re working hard to let people know your home is for sale. Many times (more than you’d think) the person who buys your home will know either someone you know, or someone a neighbor of yours knows. Simply end any conversation by saying the home is listed on CentralWI By Owner, and you’ve guaranteed they’ll be viewing your listing, or telling someone else where to look.
Selling a home is very similar to ’6 Degrees of Kevin Bacon.’ Most times the person who purchases your home will somehow be connected to you. An online listing will make it easy for information to be passed from one person to the next.
Reason 8: Use our experience to help answer your questions
I have experience in selling homes by owner. Use my experience to help you take the best possible pictures, stage your home, write your homes description and much, much more.
Reason 9: This blog
This blog is dedicated to making the entire process easier for you. Along with simplifying the process these posts will provide information you can use to help increase your selling price. Check back often or subscribe and have updates automatically sent to your email.
Reason 10: Keep your private information private
You never have to reveal your name, phone number or email address. It’s your choice what information you want other people to see. Your email address will never be listed on the website. An interested buyer will use a special contact form in order to send you an email, and they’ll never see your email address.
Selling your home is the largest single transaction you will make in your lifetime. I guarantee the selling process will be smoother by listing your home with me.
In conclusion, advertising your home on CentralWI By Owner will allow you to:
- Provide more information to prospective buyers
- Save money every time you run a for sale ad
- Include a link in your Buyers’ Guide ads
- Print flyers to hand out to any interested person
- Change any part of your listing at any time
- Easily ‘sell’ your home to potential buyers
- Use our experience to answer questions
- Gather more information to sell your home at a higher price
- Never receive spam or unwanted phone calls
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Welcome to CentralWI By Owner!
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Welcome to the FSBO home sellers who have found themselves here after receiving an informational flyer in the mail.
If this is your first time to CentralWI By Owner, let me give you a quick tour of my online home.
My name is Adam Holberg and I created CentralWI By Owner to give homeowners, like yourself, better and easier ways to effectively advertise your home. I actively work with close to 40 other for sale by owner businesses throughout the U.S. to bring you the best local FSBO service. I also have my real estate license, so I am able to answer any questions you may have.
You’re currently viewing the CentralWI By Owner blog, which is devoted to helping home sellers and buyers improve their real estate experience and explore ways to sell or buy a home without using a real estate agent.
On the CentralWI By Owner homepage you’ll find information on a variety of topics including tips on writing your for sale ad, creating a calm move, setting an advertising budget and the process you’ll go through to list your home with CentralWI By Owner.
I write more about the reasons for this business and my experience with for sale by owner in my About Page.
If you’re new to advertising your home on the internet, you may find this ‘Why CentralWI By Owner?’ article helpful, as well as this blog post on why listing your home with me not only makes selling your home easier, but it also saves you time and money.
Listing your home is a simple process. If you received a Property Listing Form in the mail, simply complete it and drop it and your payment in the mail. I’ll take care of the rest. If you lost the listing sheet, you can download another copy here.
You also have the option of paying by credit card (MasterCard or Visa). You can start this process by going to the Listing Your House page. Paying by credit card also allows you to complete the registration process online.
If you like what you’ve read here you can follow my future entries (I write a couple of times per week) by signing up to my RSS News feed or by getting updates delivered by email. You can sign up for either on my Subscribe page.
Thanks for stopping by - I hope you enjoy your stay at CentralWI By Owner. If you have any questions that weren’t answered here, feel free to drop me a note in a comment or via my contact form.
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