What is For Sale By Owner?
For sale by owner is becoming increasingly popular among home sellers all across the country, including here in central Wisconsin. Using a real estate agent or going it alone both have advantages and disadvantages and you’ll have to decide for yourself which direction you want to go.
First, for sale by owner is just what it sounds like. You’ll be in charge of selling your home. Can this be daunting? Yes. But it’s important to note that you’ll never really be “alone.” I prefer to think of it as you’re the general contractor. So as the general contractor you sub out the jobs that you can’t do or those that you don’t want to take on. Need help with the real estate forms, hire a real estate attorney. Need help with how your home looks? Have someone with design or staging experience take a look at your home. So remember, their is help and you’re always able to rely on a professional throughout the process.
Next, what does selling your own home entail? First, you need to advertise that it’s for sale. That means signs, probably flyers, advertising in newspapers and buyer’s guides, let everyone know that your home is for sale, maybe postcards to your neighbors. Is their anything else you can think of? Then you’ll have to show your home to prospective buyers. Now a potential buyer has made an offer, do you want to accept it or do you want to make a counter offer. So you’ll now need knowledge with the real estate contracts as well. And after you’ve accepted an offer it’s time for the closing and transferring your title over to the new owner. I think that’s it. But remember, you don’t have to be in charge of all of these steps; you can ’sub’ out any or all of these tasks to professionals.
If being in charge of selling your own home sounds appealing, for sale by owner may be right for you. With the internet becoming the predominant way for house hunters to search for their next home and with the advent of websites, like mine, to help showcase your home to the masses for sale by owner is quickly becoming more and more popular for home sellers.
