For Sale By Owner Real Estate | Tips For Sellers  | Asheville Realtor
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For Sale By Owner Real Estate | Tips For Sellers | Asheville Realtor


So you think you want to sell your house by
owner. Ahhhh….Just kidding. The good news is that you can totally do it
all by yourself and in this video, I’m not going to try to talk you into using a realtor. Hi, my name is Elena Kovrigin. I am a local realtor with Coldwell Banker
King here in Asheville, North Carolina. Real quick, please click that subscribe button
and a little bell so that you get notified every time I post a new video. And I do it every week. So do it. Click the subscribe button. So for sale by owner, huh? All right. In this video I’m going to give you 10 different
tips and things to think about when you decide to sell your house all by yourself. So stick around. Number one, it is never too early to get your
house show ready. Start early by packing your belongings, decluttering
and depersonalizing your space. I usually go with my clients room by room
and tell them exactly what they need to do and what they need to get rid of. This is also a great time to tackle your honey
to do list. I believe that’s what it’s called in some
households. Keep in mind that some renovations will not
pay off as much as you would like to think. Number two, paperwork. Unfortunately, when you’re buying and selling
a house, there’s a lot more paperwork involved than buying your groceries. Whether you want it or not you might want
to get familiarized with a contract to purchase and a couple of the disclosures that are mandatory
in the state of North Carolina. Every seller, whether they’re selling by owner
or with a realtor, must provide two forms to the buyer at the time of the offer. The first form is mineral oil and gas disclosure
and the second form is residential property disclosure statement. Legally, no one can fill those forms out for
you but you, the seller. I, as a realtor, cannot fill out those forms
for my clients. I guide my clients through those forms, explain
them what they mean, what the questions mean and answer their questions. But legally I cannot do that for them. So you as a seller will have to fill those
forms out all by yourself. Number three, professional photography and/or
aerial pictures and videos. Have you thought about how you’re going to
market your property? You want to put your best foot forward when
your house goes on the market. Professional photography is one of the best
ways to do that. Also, do you want to invest in aerial photos
and videos? Drone pictures are becoming very popular. So you might want to think about that as well. In this case, you would need to find a real
estate photographer. Those are the people who do this kinds of
stuff all day, every day. They know what to do. You can trust them to have the best possible
pictures of your house. Number four, pricing. Please remember three things. The price of the house that you decide to
sell your house at does not depend on what your neighbors and your friends and your family
thing that it should be priced at. It does not depend on what you paid for your
house when you bought it. And it does not depend on how much proceeds
you need to get after the sale of the house. Since you don’t have a realtor or a real estate
agent help you come up with a asking price for your house, you might want to think about
maybe hiring a professional appraiser. That way you know how much you can ask for
your house. If your house is priced too high, number one,
you might not get any showings or anybody interested in even coming and looking at your
house. Number two, even if you do get somebody interested
in your house and actually put in an offer, unless it’s a cash buyer, which we only have
about 30% of those in our area, the other 70% of people would most likely need a mortgage
to purchase your house. And when they do that, the bank will order
an appraisal. And if the appraisal comes back with a lower
price than what you’re asking for your house, then the buyer will most likely going to have
to renegotiate the price or going to have to walk away. So far so good? Does selling your house sound like a very
stressful event? Say yes or no in the comments. Number five, marketing. Have you thought about how and where you’re
going to expose your house to the most possible buyers? Are you going to do online advertising? Are you going to do newspaper ads? Are you going to do Facebook ads? Do you plan to do mailers and send out cards
to potential buyers who might be thinking about buying a house in your area? There’s a lot that goes into marketing your
house and you need to be ready to spend resources and time to be able to do that. Number six, open houses. Kind of goes along the same lines as marketing
or continuous marketing of your house. So let me just tell you a little bit how I
do my open houses. I place a Facebook ad a few days before. A lot of the people in the area might be interested
in this house that an open house will take place on a certain date at a certain time
and this is what’s going to be offered there, like snacks or refreshments. Then the date of I wake up very early and
I put out about 25 to 30 signs along the major roads intersection going to the house. That way when people drive by, they can notice
those signs and the more the better. And they can just stop by anytime they open
house is happening. You might want to invest in buying those open
house signs and putting them not just at the yard, but maybe a few different intersections
leading to your house. One thing to keep in mind, when you put those
signs along the road don’t get run over, it’s kind of dangerous. But again, the idea behind the open houses
that you want as many people, as much traffic go through your house, see the house, get
exposed to your house and potentially fall in love with your house. Number seven, security. Not something that you should take lightly. We live in a crazy world, as we all know. And when you start marketing your house, you
expose your house to all these people and you show the insides of your house by putting
all those pictures that you have taken or you have hired somebody to take for you. We as realtors put lockboxes on our properties,
on our listings, and whenever another agent opens the door, and that’s the pretty much
the only way they can get the key from those lockboxes, I know exactly what time they open
the door and who opened the door. So there’s really no chances of somebody random
just showing up and trying to open the house and look at it. But when you sell your house by owner, you’re
going to have to kind of filter through those potential buyers, interested people. Video: We know that you’re in there and that
you’re all alone. Elena Kovrigin: Just be very careful who you
let inside of your house. So I recommend having at least two people
in the house when somebody comes and looks at the house. Video: To the count to 10 to get your ugly,
yellow, no good keister off my property before I pump your guts full of lead. All right Johnny, I’m sorry./
I’m going. One, two, 10. Elena Kovrigin: Number eight, buyer prequalification. There will be a number of people who are willing
and ready to buy a house and that’s great. And there will be also a number of people
will be willing but not so ready. How are you going to prequalify them? You’re going to make sure that this particular
buyer who wants to put an offer on your house is prequalified. You do not want to deal with people who are
not qualified to buy a house. You’ll waste a lot of time with them and they
will cause you a lot of stress. You don’t even want to go there. You don’t, trust me. Number nine, inspections and negotiations. Why did you think I mentioned those two things
together? Well, negotiations happen in the beginning
when two parties agree on all the terms including the price and then the second round of negotiations
can happen after the inspections are done. When the buyer and the inspector find something
wrong with your house, they will probably come back to and try to renegotiate either
the asking price or some terms of the contract. So be prepared to that and be prepared to
handle those negotiations because that can be very stressful. Number 10 is contract and closing. In the contract there will be a few dates. One of those will be the end of a due diligence
period. Did you know that during due diligence period,
a buyer has the right to change their mind and walk away from the property. So just because you’re under contract does
not mean you’re going to take it all the way to the closing date. The buyer can walk away. So you have to watch the dates and make sure
that everyone is on the same page and everyone understands what’s going on. North Carolina is an attorney state, which
means that in order to close on the real estate property in North Carolina, you have to hire
an attorney. As soon as you go under contract I recommend
finding a real estate attorney. That way you know that they’re available for
you and they’re ready when the closing day comes. And that’s it. Easy enough huh? Happy selling. If you have questions about selling your house,
reach back to me. I’ll be more than happy to walk you through
the process. If you find this information useful put thumbs
up, say it in the comments, and share it with your friends. I will see you next time. So for sale by owner? We’ll give you the … What rent … You need
to familiarize, familiarize whether … Preferred real estate … Have you thought about how
you’re going to market your property and … So … See the house, be exposed, be exposed,
be exposed to your house. Did you know that during the due … Did you
know …

20 Comments

  • BWoodPhotography

    Great tips. Thanks for sharing. Professional photography and the aerial photography is so key. We are trying to sell our homes and are going with Coldwell Bankers and because they had a professional photographer come out, we've had more interest in it in the last week than in the 3.5 years we had it with another realtor who did their own photos!!

  • Bookkeeping by Meredith Rines, CFP

    I can't imagine not hiring a realtor. I would be afraid of forgetting something or wasting money. Hiring an expert is key to make sure I get everything I need.

  • Fully Booked Consulting

    We've thought about this before but the idea of it definitely intimidates me! Thanks for sharing your great tips!

  • Walt Ford

    Good Information. As a Realtor in Las Vegas, I can tell you that the process (paperwork, legalities & liabilities) is getting more difficult and not less. The number of lawsuits from buyers suing sellers for improper disclosures, etc. is on the rise. It's 99.9 percent avoidable as long as you follow all proper procedures, but there is a lot to keep track of to ensure a squeaky clean deal.

  • Adriana Girdler

    Having some professional photos really makes all the difference! The photos that people initially see are what tend to draw them in. Great tips – cheers!

  • Brooklyn Hanna

    Thanks for the tips! We bought our house without a realtor. Now we're looking to move to florida and would love to sell without a realtor!

  • A Real Kitchn

    Great tips if we decide to do this next year (thinking of moving then). I know that using a Realtor will ensure no "oopsies" though. Thanks!!

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