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Get a refund off Real Estate Agents Fees
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For sale by owner or fsbo's
I know a lot of people are now thinking of being a for sale by owner or selling privately without a real estate agent, but the fact remains that somewhere between 80% to 90% of all properties are still sold by real estate agents.
I know I am biased being a real estate agent, but I am happy to explore to pros and cons of both approaches. I believe in the real estate industry and the people who work in it but lets consider the idea of selling without a real estate agent.
Tip
no 1. - For sale by owner - 2/3 weeks maximum .
If you want to try to sell privately, go ahead and give it a go, but importantly do it with a plan and if you don't sell quickly be prepared to change your promotion quickly.
The maximum you should advertise real estate privately I believe is 2-3 weeks, no more; if you haven't sold it in the first 2 weeks chances are strong you won't sell it your self so at this point you are a lot better off employing a real estate agent.
Leaving it go on for any longer than that first 2 or 3 weeks and you have the possibility that the property will lose some of its appeal.
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Preparing real estate for sale, presentation is a skill read more...
As a seller either you or your representative real estate agent then has to explain why no one else thought it was good enough value to buy your property.
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The longer your sale goes on there will be less new buyers to look at your property, this will effect your end sale price.
Tip
no 4. - For sale by owner - consider all early offers carefully.
Consider carefully the early offers you receive, the fact is in many instances these may be the best offers you will get.
If the early price enables you to achieve your goals, you should consider selling sooner rather than later.
How many times do you hear of sellers having their homes for sale for a long time and getting a higher price? Almost never. The highest price comes when your home is fresh, not when it's stale.
Tip
no 5. - For sale by owner - don't play real estate agent for too long.
With a maximum of three weeks as your limit you will have long enough to make sure if your next door neighbor is not interested or if somebody else who is living close by had any interest.
During this 3 weeks make your social network aware of your desire to sell, you never know some body who you have a connection with may be interested.
Seriously, this will be long enough for most people selling real estate privately, the novelty of playing real estate agent will have worn off and any serious buyers in your area will be aware of what you were promoting.
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