Seller Resources

Think You Can Successfully FSBO

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If you are thinking about selling your home without the help of a Real Estate Professional, consider this: More than 75% of For-Sale-by-Owners who try, wished they had not and ultimately list their home with a Real Estate Professional. The reasons are really quite simple.  

It's harder than it seems.

Most sellers have the misconception that selling their homes is a piece of cake. And by doing it themselves they can save money by avoiding the real estate commission. Unfortunately, the truth of the matter is that the odds of successfully selling your home alone are stacked against you. Unless you are trained and experienced in Sales, Real Estate Law, Financing, Property Valuation and Negotiating Skills, you might NOT have what it takes to be a successful For-Sale-By-Owner (FSBO). The paperwork alone is enough to intimate most do-it-yourselfers. There are just too many pitfalls for the unsuspecting FSBO to avoid. FSBOs quickly learn how frustrating, confusing and time-consuming the process really is. After losing valuable marketing time, most FSBOs end up throwing in the towel and listing their home with a professional real estate agent.

Doesn't it make more sense to start off working with a Real Estate Professional? After all, shouldn't your goal really be to SELL your home at the best possible price, instead of just saving the real estate commission?

Pricing your home right.

Do you know what your home is really worth? Unless you pay for a professional appraisal, you are more likely to overprice or under price your home. In either case, you lose.

Listing your home with The Arriero Team will insure that you price your home right. We are involved in property valuation every day and thus can take into account all of the visible and hidden market factors that affect the value of your house. We will assist you in arriving at a fair and reasonable price for your home. As a result, your home will sell quickly at the best price, instead of becoming stale by lingering on the market for months because it is overpriced for the market conditions.

Marketing your home.

Once you have set your price--whether it's right or wrong--it is time to begin marketing your home. How are you going to advertise your home to qualified buyers? Most FSBOs put a "For Sale by Owner" sign in the yard and wait for potential buyers to drive by. What happens if no one ever drives by? As a homeowner, the only other marketing medium available to you is the local newspaper and possibly some Internet sites. Unfortunately, this can be quite expensive. And unless you are a skilled copywriter, your ad may be completely ineffective at marketing your home.

Using the services of The Arriero Team will greatly increase the visibility of your house. Your house will be listed in the Multiple Listing Service so that every agent in town working with QUALIFIED buyers in your price range will know about your house. We advertise your home almost exclusively on the Internet. Realtor.com, for example, is one of the sites that only Realtors can advertise on. (If you would like a complete list of sites that we advertise on, please give us a call.) We can also offer Homebuyer's Warranties, and much more! All of these factors insure that the greatest number of people will be made aware of your home in the shortest time.

Showing your home to "potential" buyers.

Let's assume you get lucky and people stumble upon your FSBO sign. Be prepared to answer calls at all hours of the day and night from people inquiring about your house. Most will be curious neighbors wanting to find out your selling price. Others are window shoppers that are simply not qualified to buy your house. And what happens if they want to see your home? If you're not at home, how are they going to get in? Essentially, every time you leave your house-- for whatever reason--your home is "taken off the market." If you happen to be at home, do you really want to let a complete stranger enter your home? Do you know if the person is REALLY qualified to buy your home? Or are they just tire kickers?

When you list with The Arriero Team, you avoid all of these problems. All inquiries about your home will be handled by us. And only qualified buyers will be looking at your house. And best of all, you don't have to be home for them to see your home.

Getting down to business.

You have finally found a serious buyer. Now what? How do you negotiate the deal? How do you objectively handle a buyer that is indecisive and on the verge of making the biggest investment of his life? Who will reassure the buyer that he is making the "right" choice?

Since you are a FSBO, the buyer will assume that now he can reduce your asking price by the commission you are saving. The offer you receive is likely to be a low ball offer. How will you handle it? Should you stick to your asking price? If you do, you are likely to lose the sale, but if you don't you may cheat yourself. This is a time of give and take that requires knowledge, negotiating skills and intestinal fortitude. But how much should you give, if anything at all? As the homeowner, it is hard to remain objective to ensure your best interest is kept in focus.

At this point, the advice and experience of The Arriero Team is most-valuable to you. Having an objective third party on your side will really pay dividends. Our specialized training and experience, will guide you through this very difficult part of the transaction. It will be reassuring to you to have an advocate fighting and negotiating for your best interest.

Writing up and completing the deal.

This is arguably the most confusing, intimidating and frustrating part of the selling process for must FSBOs. In many ways, this is when the real work begins. First you have to deal with all of the legal aspects of the contract and the associated disclosure forms. Then you have to help the buyer navigate his way through the maze of mortgage financing, discount points, lock-in rates, fixed or variable interest rates, etc. Then there are the inspections, appraisal, escrow, closing attorney, and a whole host of other details to keep you jumping until the closing. Along the way, any one of a thousand things can go wrong, that can potentially unravel the entire deal. And in the middle of all if this you're busy trying to make plans to purchase a new home. Are you up to the challenge?

Let's assume you manage to navigate successfully through this part of the transaction. You get all excited. You have made the deal! Unfortunately, 30 days down the road you could discover to your horror that the buyer's loan is denied. How could this have happened? You thoroughly checked him out, right? You asked all the right qualifying questions, right? You could be faced with the prospects of losing the new home you wanted to buy and having to start the process all over again.

Perhaps if you had only used The Arriero Team, the outcome could have been a lot different! Selecting a Realtor is the first important step of the sales process. It is critical that you hire one with strong credentials. Once there is a contract from a qualified buyer, we will negotiate everything on your behalf--to get the best possible price for you. You no longer have to worry about legal forms, qualifications, inspections, etc. We arrange meetings with the lender, attorneys, final walk-through, and much more. Now wouldn't this be much easier?

Still think you can do it yourself?

Before you decide, consider all that will be required in the way of time, skill, experience and money. And then consider the advantages of having a Professional orchestrate the entire job for you--smoothly, painlessly and safely! The decision is yours alone to make. It's your money.

Call us today, and find out how we can make life SO much easier for you! Let The Arriero Team of Arriero Realty, Inc. help YOU in getting the job done!

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