Deciding to sell your house on your own as a for sale by owner or choosing RE/MAX Dewitt MI Real Estate Agency? Do you have a potential buyer interested in purchasing your Lansing Michigan house? Before you jump on the band wagon and decide to do FSBO, ask yourself these questions to avoid costly mistakes: Have you already met with an attorney to verify you are doing everything correctly? Do you have the correct paperwork and forms to fill out for both seller and buyer or did you print random documents from the internet? How about mediation, what do you know about how this impacts your sale? Are you familiar with the term, "Seller's Disclosures?" Are you familiar with title companies, what fees they charge you and how they prorate taxes? If you answered "no" to any of these questions, you may want to consider hiring a professional real estate agent who has knowledge in housing transactions. You may be thinking, yes, as a for sale by owner, this appears highly profitable but ask yourself, why are you not considering a real estate agent to help you? Here's the advantages of having a professional: First, they have access to more digital marketing tools than you do. They have the MLS system (this program feeds out listings to housing websites on the internet and other real estate companies in the area). Second, their agency has money to advertise your home in the paper, magazines, brochures, local news, radio, TV. Third, real estate companies such as RE/MAX are more reputable and well known by prospective buyers, and people will trust a brand name agency over private homeowners. Four, for sale by owners increase their chances of engaging in "dispute resolution" after the closing. What does this mean? If the new owner finds something wrong with the house (water damage, leaks, etc), they can sue you and take you to court. At this point, you will need to hire an attorney and pay out of pocket costs at your own expense. On the other hand, Realtors are insured and also have access to their company attorney. Five, what do you know about the prospective buyers touring your house? Have they been pre-approved for a loan to buy the house? If the potential buyer is not pre-approved for the price of your home, then they are wasting your time. Six, for sale by owners will most likely sell their property under value. See the chart below. According to the latest Keeping Current Matters article this month, for sale by owners sell their house substantially lower than if they worked with a real estate agent and could received almost twice as much money. Seven, although you may be frustrated with paying for an agent's commission fee (3%-6%), you still may earn more profit in the long run.
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