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Home FSBO

Why Can’t I Just Sell My Own Home? What’s So Hard About That?

Chuck Marunde by Chuck Marunde
February 19, 2010
Reading Time: 2 mins read
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From a FSBO in Sequim I received the following question.   Enclosed is my response.

Question: I’m interested in selling my own home for one reason–to save the real estate commission.   What’s wrong with that?

Answer: Nothing.   That’s a good American reason to be a For-Sale-By-Owner.   The question is, can you?   In other words, do you know how to price your home?   Do you know how to collect accurate information on fair market value?   Do you know how to make adjustments in the prices of the comparables?   Do you know the most and least effective ways to advertise and market?   Do you have experience developing compelling sales scripts that will attact buyers?   What about negotiating?   Can you negotiate for top dollar while not killing a transaction with a good buyer?   Do you know all about terms that change your net proceeds?   Are you aware of the top mistakes that FSBO’s make regularly?   Do you know about tax implications?   Are you a competent document draftsman?   Can you include all relevant terms and langauge without ambiguities?   Do you know what legal documents are required by law in Washington and Clallam County, and in Sequim and Port Angeles?   Can you help your buyer get a loan (there’s much more to this step than 99% realize)?   Can you provide the kind of attention and focus needed from the day there is a written agreement with your buyer  until closing?    Iin other words, do you know how to be a transaction coordinator?

If your answer to all of these question is an intelligent “yes,” than I encourage you to sell your own home.   But if you can’t talk for 20 minutes on each of these issues, you may be  unprepared.   It takes many of us a lifetime to really begin to get good at many or most of these steps.   No one is naturally good at all of these things.    There are too many details that must be learned on the street.    If you have gained the knowledge and experience to competently handle all these questions and all the issues  within each question, I would say, “Go for it, and God speed.”

Last Updated on February 19, 2010 by Chuck Marunde

Tags: for sale by ownerFSBOPort Angeles FSBOSequim FSBO
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Chuck Marunde

Chuck Marunde

Chuck grew up in remote Alaska, graduated from the University of Alaska with a degree in Economics and Teacher Certification, and after teaching high school for two years, went to law school at Gonzaga University in Spokane, Washington. He served four years as a Captain and JAG in the USAF at Nellis AFB in Las Vegas. After practicing real estate law for 20 years in Washington, Chuck founded iRealty Virtual Brokers covering Sequim and the beautiful Olympic Peninsula. He is the author of 2,200 real estate articles and 60 books, and he produced over 100 real estate videos. Chuck combined his love for real estate and technology to create a massive Internet presence, and his articles and videos and books have been viewed by millions. Chuck is a well recognized real estate expert and his counsel is sought by other brokers and practicing attorneys around the country. Buyers from New York to Hawaii and from Florida to Alaska seek him out to retain him as their Sequim Buyer's Agent. 

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"I wish I read this before selling my
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