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Home Selling Guide

Selling by Owner?

There really is only one reason anybody would want to sell their own home and that is to save the marketing / commission charged by a licensed real estate agent. But, is the appearance of that savings actually going to materialize? Will you be able to achieve your goals of selling your home...if not, there isn't any savings.

Think very carefully before you attempt to sell your home on your own. There are many pitfalls that can trip you up along the way that you need to know about...
Security becomes a major issue when selling your home by owner. Since you will be letting total strangers into your home you must rely on your own instincts and good judgment when it comes to the safety of you and/or your family.
Who will "Save" the Commission? Unfortunately, buyers know you are saving money by selling by owner, so if they even consider going it alone without a buyer's agent, they will want to get a better deal. These buyers will often deduct the commission from your asking price and then start negotiating with you. Only one party in the transaction can "save" the commission so this presents a huge problem.
Marketing: The planning and preparation of professional looking home marketing materials along with all print advertising and other media costs are your responsibility.
Internet: Nearly all of today's homebuyers use the Internet to search for homes. Without a great internet presence, online advertising and internet exposure you stand to lose many of today's potential buyers.
Transferee Buyers: If you live in an area where major corporations transfer employees into town you will miss out on potential buyers. Most big companies and major corporations today employ third party relocation companies to assist their transferring employees. These third party relocation companies will often work only through approved real estate brokers and their professional buyer agents.
MLS Inclusion: Since your home will NOT be listed in the local area MLS (Multiple Listing Service) you will be looking for qualified buyers one buyer at a time.
Proper Pricing: Web sites that boast of being able to give you a price may not be accurate. They have limited data and often it is not the most current. That combined with a lack of ability to factor in market trends and conditions, the price they show might be way off and cause you to price your home too high or too low.
Negotiations & Contracts: If you are not skilled in the area of negotiations or writing binding business contracts you may end up actually selling for less, having your transaction fail, or worse yet ending up with a legal or financial liability because you made a mistake.
Bogged Down by Paperwork: Preparing the proper paperwork, legal forms, disclosures etc. are your responsibility.
Goodbye Free Time: If you want to give maximum benefit to your efforts, you and your family's free time will be somewhat or severely limited.
Breaking Emotional Ties: As you move toward the negotiation process, you must break all emotional ties that you have with your house or you will find yourself at a distinct negotiating disadvantage.
Education: You must become very knowledgeable of buyer's contingencies, seller disclosure laws, lead based paint issues, civil rights laws, financing options, title and deed requirements and local ordinances to be effective and successful in the home marketing and selling process.
A Needle in a Haystack: The vast majority of the qualified and "ready to buy" buyers are working exclusively with professional real estate agents. So, in effect you are really looking for a "needle in a haystack" when it comes to the number of buyers that would be willing to purchase your home without the aid of a real estate professional.

 Selling a Home?   Fill out Steve's online Seller Inquiry Form
 Buying a Home?   Fill out Steve's online Buyer Inquiry Form

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  Steve Hatfield
REALTOR® ABR, CRS, e-PRO Certified
CENTURY 21 Curran & Christie
25636 Ford Road
Dearborn Heights, MI 48127
Office: (313) 274-7200
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Licensed Realtor® Since 1987 (#6501221773)
realtor Accredited Buyer Representative Certified Residential Specialist e-PRO

Steve Hatfield, Realtor® provides professional real estate / home buying services to buyers and sellers in Dearborn Michigan, Dearborn Heights Michigan, the Wayne County MI (Southeast Michigan) communities of Livonia, Canton, Redford, Westland, Garden City, Plymouth, Northville and the Oakland County cities of Farmington / Farmington Hills and Novi Michigan.

Equal Housing OpportunityIn accordance with the law, the properties, real estate services and homes for sale featured on this web site are offered without respect to race, religion, color, creed, national origin, sex, physical limitations / disabilities or familiar status.

REALTOR® is a registered collective membership trademark that identifies a real estate agent / professional who is a member of the NATIONAL ASSOCIATION OF REALTORS® and subscribes to its strict code of ethics.

Century 21 Real Estate Corporation © and sm trademark and servicemark of Century 21 Real Estate Corporation. Equal Housing Opportunity. Each office Independently Owned and Operated.

Copyright © 1996 - Steve Hatfield
Graphics and content may not be reproduced or copied in any way with out written permission from Steve Hatfield.