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Consider the sell by owner approach when selling your property

What is for sale by owner?

Selling by owner or owner assisted real estate is the process of selling your own home without the help of a real estate agent. While most may not have heard of the For Sale By Owner approach or believe that it is an allowed practice, you can be sure that it has been around for a long time and is 100% legal, despite what an estate agent might say. roots can do. tell you. Most people who use the real estate sale by owner method are property investors and those looking to earn an extra dollar or two by selling their home or investment property.

How does it work?

Selling your own property is a multi-faceted process that only the brave usually undertake, but if you do your research, such as reading this article, you’ll be fine. First, you need to think about how you are going to market the property, such as writing listing copy, taking pictures for the property, etc. This is something that doesn’t cost you a hundred and can be done in just over an hour, all you need to do is sit down and write a description of your property and then walk around your house taking some nice photos that will attract potential buyers.

The next step is the negotiation and sales side of the process. You would be wise (if you have no previous sales experience) to talk to someone you know knows the art of sales and negotiation, such as a friend. It would also be wise to speak with a lawyer or conveyancing agent about the contracts and agreements for the sale of your property.

How much does it cost?

When it comes to selling your own home, it will only cost what you would like it to cost. Below are some of the things you may need to consider buying when you’re going down the For Sale By Owner path.

• Listing your property (free and paid options)
• Photographer (Optional)
• Sale signage (optional)
• Carrier/Attorney (Essential)

Are there hidden surprises?

If you do your research, no. The whole Sell By Owner concept is pretty transparent and you have full control over the process, the only problem is that you have to do most of the work yourself. Create your ad or listing of properties, take pictures of your property, post them online, erect “For Sale” signs on the front of the property for sale, handle inquiries, negotiate with potential buyers, seal the deal and have contracts or written agreements. above.

It may seem like a lot to do, but when you think about it, most of the work goes into advertising the property, which can take you just an hour, depending on how quickly you can write a spiel about your property and how good it is. to be. they are with a digital camera, the rest is just taking phone calls and having someone like a mover draw up the contracts for the sale of your property.