If you are an owner selling house in McKinney TX, be prepared for the FSBO blues. According to the author of The For Sale By Owner Handbook, owner selling house is no easy undertaking. In the real estate industry, For Sale By Owners are dubbed FSBOs and in McKinney TX many of these homeowners end up singing the blues.
6 Big Questions for FSBOs
For the owner selling house in McKinney TX, there are six pressing questions you must be able to answer before trying to sell house by owner.
- Do you know the fair market value of your home in McKinney TX? – You may want to consider obtaining a fair market appraisal so you are realistic about your asking price and final expectations. Many FSBOs are so concerned with not paying a commission, they undersell their property.
- Are you prepared to work with a buyer’s agent? – Some buyers may have exclusive agents they want to represent them by handling negotiations and the purchase and sale contract. Even though owner selling house in McKinney TX without a listing agent does not have an agent, he or she may end up paying a commission to a buyer’s agent. Are you prepared to say no? Or, are you willing to pay the buyer’s agent if the deal closes?
- Can Owner Manage Sales and Marketing? – If owner selling house in McKinney TX intends to get the best price at the lowest cost, marketing and sales must enter the equation. Real estate transactions take work. Not all homeowners can write compelling advertising copy. And, many simply do not have time or the resources to have the house looking its best every time a prospect comes to look.
- Can the Homeowners Accept Criticism? – News flash! Owner selling house in McKinney TX must be prepared to hear criticism about the property. The roof might need work. The siding may look tired. Landscaping may not meet the prospect’s expectations. The flooring is worn and the screens need repair. The list of complaints homebuyers find often seems endless. Of course, these usually arise when negotiating a selling price but when you sell your house by owner, being unemotional about criticism is part of the process. For some, selling house by owner can be a bitter pill to swallow. Do you accept criticism about your family home without becoming upset?
- Screening is Important? – One of the valuable services real estate agents are supposed to provide is screening. Owner selling house in McKinney TX may not know how to screen prospects or be unwilling to run credit reports or background checks. The inability or unwillingness to perform this type screening can end up wasting time and money. Suddenly, selling your house by owner can become a very frustrating experience. If owner selling house in McKinney TX is not prepared to screen prospects, selling by owner presents many risks.
- Do you Understand the McKinney TX Marketplace? – Everybody is a real estate property expert until they try to sell their own home. To sell house by owner involves understanding not only the real estate market but the mortgage market and closing process. Nobody relishes paying an agent’s commission. If you have the ability to compete in the McKinney TX real estate market, you can save money but can you nurse a transaction from contract to closing? Can you negotiate potential improvements the lender may require? If owner selling home in McKinney TX has not visited the mortgage market since 2008, the landscape has changed and there are pitfalls at every turn of the mortgage application process since 2008.
Do you know all owner selling house in McKinney TX options? If you think selling house by owner is imposing, you are correct. But, selling with a licensed real estate agent is expensive and comes with no guarantees.
Have you considered selling for cash online? Visit this page to receive a cash offer within 24 hours. The call is free. Owner selling home in McKinney will like the ease and simplicity of this as is sale.
Contact SJT Rentals LLC to get our fair and best offer for a quick sale. You are not the only owner selling house in McKinney TX to choose this route! Find out why others opt not to sell house by owner and contact us now!