Real Estate, Solved.

True or False?
"If I sell my house on my own, I can save on a broker's commission."

The Answer: Maybe.

1. The most important thing is to get an accurate estimate of market value. You can do that a number of ways, either with online resources (not very accurate) or invite a few brokers to visit and give you their opinion.

2. Your home has to be ready to photograph and show. Sometimes minor, inexpensive improvements can mean a difference of thousands of dollars. Educate yourself on what buyers look for. A good resource, again is a real estate broker, or home improvement articles.

3. Be flexible in your showing appointments. You need to be flexible; it's best to allow access to buyers even on short notice .

4. Strike while the buyers are hot. You have the best chance of getting your home under contract in the first 2 weeks. Be prepared to make a big push during that time, show the house at its best and most frequent.

5. Have a real estate attorney lined up. In the absence of your own broker, a real estate attorney will be the one advising you on necessary contracts and disclosures.

6. Know what negotiations will be like. Think about how you will deal with multiple offers. You may also need to offer a buyer's agent commission.

7. Be prepared for requests of a discount. Buyers like to buy homes which are for sale by owner because they think you will pass the savings on to them.

8. Keep your cool. You won't have a mediator, so make sure you can be emotionally detached from the sale. Do not let your emotions get in the way of pricing your property properly or negotiating successfully.

9. Remember, a good offer is made up of price AND terms. Pay attention to the buyer's qualifications and contingencies.

Ultimately, the devil is in the details. Without professional guidance, you risk leaving thousands of dollars on the table. The homes sold by Realtors sell for an average of $230,000, versus those sold by owner for $180,000.

With the changing market, shifting buyer demands, and adjusting inventory, it can be difficult to find the "sweet spot" for your property without expert advice.

At ProCasa Realty, we are ready to assist you, whether you are considering going it alone or needing to hire professionals.

ProCasa Realty, Ltd.
2823 N Milwaukee Ave, Chicago, IL 60618

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