FOR SALE BY OWNER

At Innovative Real Estate Services our feeling is that if you can sell your home yourself AND you can save ALL the commission AND in the end you stay out of court, then by all means give it a whirl! But if any of these 3 components are negative, you will find that the price of a competent agent is more than worth it.

Should you decide to go ahead and sell your home yourself, Innovative Real Estate Services can still help! We offer our exclusive FlexFee Brokerage Option Packages to help you with the areas you need help with, and you don't pay extra fees for the areas in which you don't feel the need for help. As all situations are different, please call me at 248-770-9910 for a free, no obligation fee quote for you. We will give it to you straight. FlexFee is NOT a gimmick or attempt to lure you in, then try to sell you full service. We SINCERELY want to help you at whatever level of services you want or need.

However, before you spend a lot of YOUR time and money trying to sell your own home, here are just a few of the challenges you face. Some may seem like no big deal unless it happens to be the critical one with a particular buyer:

  • And this is the biggest one: buyer wants to save commission for themselves and know what you would have to pay if you hired a Realtor, so they discount the price right off the bat. Don't believe that it will happen to you? Then go to this Sale By Owner site and read the very first reason why someone should buy a by-owner. At the same time, on their "Why Sell By Owner" page they claim that selling the home yourself you won't have to pay a commission so YOU'LL save the commission. Two people can't save the same commission! Please make sure you read this entire list, especially the last reason.
  • People don't show up for their appointment
  • People call to see the home now - from your driveway via cell phone.
  • No multiple listing service i.e. 12,000+ agents who could sell your home can't or won't
  • Cost of ads
  • Who's home to answer calls?
  • Do you know who REALLY is coming over?
  • Ask yourself: "Why would a buyer buy a home for sale by owner when the services of a
    Realtor are "free" to the buyer?"
  • 2 identical homes for sale, one by owner, one by Realtor: which one would you try to buy
    first? Why?
  • How do you check up on all the aspects of the buyer's financing?
  • Which title company will handle your "by owner" transaction - a lot more work for them and
    higher costs to you
  • Title what?
  • Who makes sure that the correct purchase agreement clauses are negotiated in your favor?
    Attorney? Only if they are a legitimate real estate attorney: Possession; Inclusions; Inspections - which, how long, who pays, etc.; Financing - hidden costs to you?; Deposit - how much, who holds, forfeit on default, etc.; Well and septic testing; Easements - if any problems how to fix?; Etc., etc.....
  • Did I mention you won't save the entire commission?
  • Your time - what else would you rather be doing; what's your time worth?
  • Mr. Murphy ALWAYS makes his presence felt - who fixes the problem? Who pays?
  • Which purchase agreement form should you use?
  • Writing the contract - more to it than just filling in the blanks
  • What's legal, what's not?
  • When do you have a "deal"?
  • Financing problems
  • Who closes it?
  • Buyer's homeowners insurance
  • How do you verify buyer's funds?
  • Are they available now?
  • If you are buying...your offer contingent on a FSBO deal closing: good luck getting YOUR offer accepted
  • If buyer has a lawyer, do you need one?
  • Where to run advertising?
  • Will you coop with agents or not?
  • Who is agent representing if you do coop?
  • Seller's disclosure compliance - you're responsible to do it legally
  • Lead paint disclosure - ditto
  • Is the buyer a U.S. citizen? If not, who will handle the tax withholding?
  • What if your home is a "site condo"?
  • What if you have an association?
  • Private road? What do you have to do?
  • How do you qualify the buyer financially BEFORE accepting their offer to make sure they
    can get financing?
  • Feature sheets - what information should you include; what info should you NOT include?
  • Do you really want unaccompanied strangers in your yard, your house?
  • Signs: cost, how big, where to put, what information on it?
  • Internet access that is ACCESSIBLE
  • What repairs or improvements do you need to do?
  • What repairs or improvements should you AGREE to do?
  • What is your home really worth in the CURRENT market?
  • What are your actual costs?
  • Who checks to see if I am/should pay any buyer costs?
  • If 'none', will it cost me the deal?
  • Home warranty issues
  • Liability - where, how to alleviate?
  • Theft or damage to valuables: do you accompany tightly the prospective purchaser or give
    them space? Either way is uncomfortable.
  • WHO are you giving your address to for 'drive-bys'?
  • Wife/husband/kids home alone while stranger goes through your home...
  • Unfortunately, many sellers, after being on the market for a while will RATIONALIZE and ACCEPT an offer reflecting a reduced price by an amount equaling a commission, AT LEAST, or they won't sell it. Sorry, but I've seen it happen hundreds of times.
There are more, but there are better ways. We will design a program specifically taylored to your wants and needs. Contact me:

Chris Furgerson, REALTOR®

155 W. Nepessing St.
Lapeer, Michigan 48446
Office: 248.770.9910 Toll Free: 1.800.958.9910 ext. 0 Fax: 810.664.8393
Email: chris@cfurg.com Website: www.cfurg.com
for Home PicTours, Home Buying Guide, Home Selling Guide, and More!

Copyright 2005 by Chris Furgerson. All rights reserved.