Job Fair USA

2011-09-14T21:30:00.000-05:00

Job Fair USA

RockfordLink.com - Rockford, Illinois Area Guide and Information

2011-09-14T21:01:00.000-05:00

RockfordLink.com - Rockford, Illinois Area Guide and Information

For Sale By Owner (FSBO): Sell your Home, Property; Buy Real Estate @ Rockford For Sale By Owner

2011-09-14T20:52:00.000-05:00

For Sale By Owner (FSBO): Sell your Home, Property; Buy Real Estate @ Rockford For Sale By Owner

5730 Knollwood Road, Rockford, Illinois. 4 Bed, 3.5 Bath, 2.5 Car Garage, Bi-Level.

2011-09-14T20:50:00.000-05:00

5730 Knollwood Road, Rockford, Illinois. 4 Bed, 3.5 Bath, 2.5 Car Garage, Bi-Level.

Selling your home "By Owner"

2009-03-08T15:51:00.003-05:00

You're selling "BY OWNER." Congratulations on saving thousands of dollars, but you have no prior experience, you're not a real estate agent, you're not a lawyer. In addition, you don't have the energy to prepare your house, let alone "spiff it up" for that first open house. Let's rethink our position. First of all, whether you sell yourself or through an agency, YOU will prepare the house yourself before it goes on the market, YOU will be expected to make your house presentable for open houses and showings, and YOU will hire a lawyer.

So let's get started by:

PREPARING YOUR HOUSE FOR THE MARKET

Outward appearances definitely count. It's no different when selling your home. Spend some time and money on that all-important first impression... It's far more important than you may realize. To prepare your house for the market you should:

Neaten your lawn and shrubs
Plant some spring flowers in bare spots
Tidy your garage, shed, etc.
Paint the exterior if needed
Make all repairs including loose shutters, porch railings, etc. Interior
Repair all cracks in walls and ceilings, and paint (in neutrals) if necessary
Do what is necessary to create a dry, bright basement
Thoroughly clean your house from top to bottom,
inside and out (including windows)
Create a spacious feel throughout, including kitchen cabinets, closets, etc. (Store
unnecessary items elsewhere.)
Add decorating touches like fresh flowers, plants, small pillows, etc. (Be creative!)
Make sure the driveway and walkways are clear of snow in the winter

Summary: Spend as little as possible, but enough to put your house in as good condition as possible. Remember: Real estate agents don't "do windows". Regardless of how you sell it, YOU will be doing all the preparation on your home. Tip: The expenses incurred for the specific purpose of selling your home may be tax deductible! (Check with your accountant)

Yes... You CAN Sell Your Home Yourself!!

We strongly believe that selling your home yourself makes sense not only when it comes to the bottom line dollars that you will keep at closing, but it can speed up the time it takes to sell your home because you are able to offer it for sale at a lower price.

Below, we have answered some of the questions that we have been asked repeatedly by buyers and sellers. We hope these help take any mystery out of selling your home yourself!

Yes... You CAN Sell Your Home Yourself!!

Q. Are homeowners really able to sell their homes themselves? My real estate agent told me it hardly ever works.

A. According to the United States Department of Commerce, almost 30% of all real estate sales as early as 1993 were transacted by the owner, without a real estate broker.

Q. But can I really sell my home myself? Don't I need a real estate agent to handle the contract for me?

A. No, you don't need a real estate agent to handle your legal paperwork. Regardless of whether an agent is involved or not, your lawyer will be the one to review all legal aspects of the transaction, and handle the closing. Regardless of the contract you use, or who is involved in the transaction, you should have the deal contingent on your lawyer reviewing the contract. He/she will be the one to make sure you are protected in all aspects of the transaction.

Q. A buyer shouldn't be concerned if a property is listed with a real estate agent, or for sale by owner. After all, the commission is paid by the seller. Right?

A. Wrong! Although the commission is paid by the seller at closing, the buyer should be very concerned about the bottom line price of the house. If the seller must net $150,000 from the sale of his or her home, they can get this one of two ways. Sell it through a real estate agent for $160,500 ($160,500 x 7% = $11,235 in commission), or sell it themselves for $150,000. Which do you think will result in a better deal for the buyer??

Q. Can we try to sell our home ourselves, and list it with a real estate agent at the same time?

A. Yes, you can. Real estate agents are not necessary, as we said, from a legal/contractual standpoint. Their worth lies in their access to the Multiple Listing Service. You can have your home listed in the MLS through an Exclusive Agency Agreement. In this case, you pay commission only if an agent sells the home for you. If you sell the home yourself, you pay no commission. Be flexible, too, in giving agents a 3% Open Listing for a day or two if they have someone interested in your property, and be willing to work with a potential buyer through a Buyer Broker arrangement. By using the Exclusive Agency Listing you are keeping open all doors to potential buyers, while retaining the
all-important right to sell the home yourself.

Q. How long will it take to sell my home myself?

A. Unfortunately, no one is going to be able to answer this question for you. The length of time on the market depends on many factors: location, condition, competition, & most importantly the asking price. These factors will determine the length of time your home is on the market whether it is listed with an agent, or whether you are selling "by owner". Research the market thoroughly to be sure that your asking price is not too high. Houses become stagnant quickly in this market when overpriced. Remember, one of the great benefits of selling the home yourself is that you can offer it for sale at a
lower price because you are saving commission. Take advantage of this, price your house right (lower than if it had been listed!), and sell it faster!

Yes... You CAN Sell Your Home Yourself!!

Advertising/Getting The Word Out

SIGNS HELP SELL HOUSES! One of the best tools for selling your home is the sign you will place in the front of your house. If you cannot make a great looking sign, it is best to purchase a professionally printed sign. Sites like Rockford For Sale By Owner provides a companion sign with the web address and house number clearing printed so "drive-bys" can read it from the street. The signs should be easily read from the street. If you're on a well traveled street an open house insert could be used anytime you are home and your house is in the condition where you wouldn't mind having interested parties knocking at your door. Next - if you don't have an answering machine, now is the time to get one! (You certainly don't want to miss even one potential buyer!!) Return all calls promptly, and monitor your machine if you are away for several days. Newsprint advertising should be kept simple and text can be reduced because you have a web address for people to log into and view the entire description. There are only a few essential you will need in your
ad:

1. Indicate you are For Sale By Owner (and list the web address i.e., http://www.rockfordfsbo.com/
and your house number).

2. Number of bedrooms and bathrooms. If this is a detriment, and you can explain to a
potential buyer that the "dining room could easily be converted to a third bedroom", leave this information out of your ad, and save it for the web site and a personal explanation.

3. Style and general condition of the home.
4. Address or neighborhood location. By putting your address in the ad you will most likely get fewer calls, and more drive-bys. If you have something special to tell the buyers about your home that is not obvious from the road (the large deck you recently added off the back, etc.), it is best not to put your address in the ad so you can explain these hidden features to the buyer before they do the drive-by. Again, by using your print ad to direct buyers to the web site you can "show" them rather than "tell" them about a feature.

5. The price. Either the exact asking price ($174,500) or a ballpark figure (Low $170,000's). At this point you can also indicate your willingness to offer financing, that you are "anxious", or "negotiable" if any of these apply.

Get creative, but keep it simple - someone once made postcards with a photo of the exterior & interior on the front, and pertinent information & a phone # on the back. She mailed and handed
them to anyone that might be interested in her home. Think of at least one creative advertising idea that is specific to your home. What ever you do, make sure that the web site address and the house number are provided.

Example - is your home near a large business? Hand out fact sheets on your home to employees as they come or go from work. Ask permission to post one on their cafeteria bulletin board. Check if they have a relocation office that might handle new employees moving to the area...Whatever other creative ideas you may come up with, CONTINUE TO ADVERTISE! You may own the best house in town, but if the right person doesn't find out about it, you may continue to own the best house in town! So get cracking, and have a little fun getting the word out! Check out some of the testimonials, by advertising on Rockford For Sale By Owner you'll "Open" your house to the
entire world! You can have the same kind of successes!

Yes... You CAN Sell Your Home Yourself!!

Hiring a Lawyer

If you read the last section, you already know that trying to sell your own home makes sense (Dollars & Cents!) You may also recall that since YOU (not an agent) are responsible for preparing your house for the market, and making it presentable for open houses and showings, YOU may as well take the extra steps needed give you a sales advantage. Choosing the right lawyer is very important. Can it be as simple as "letting your fingers do the walking through the yellow pages?" NOT SMART! Knowing who to look for and the right questions to ask before making this important choice IS SMART! What are your priorities? If you are anything like most sellers you want to:

Sell your house as quickly as possible & Feel confident in your lawyer's legal advice.

Sleep at night! Choose a lawyer you like. Sounds simple, but if you really like your lawyer, the chances are so will a prospective buyer, and that can actually facilitate the sale of your home when negotiation time is at hand. Liking, or even loving, your lawyer however is not enough if they have never had Residential Closing experience.

Make sure the lawyer is a "flat-rate" as opposed to hourly. This could save you hundreds of dollars if there is a problem later.

The following are questions to ask when interviewing a potential lawyer:

How many residential real estate closings have you handled this past year?

How many were without a broker involved?
Are you available on short notice? (A lawyer that waits 3 days to return your call when
you have a hot prospect loses a lot of "likeable points" quickly!)

How fast can you draw up a sales agreement?

What are your fees when a seller has a broker?

What's the fee when the seller does NOT have a broker?

Can you give me names and numbers of references? Tip: Ask your bank if they work with
any lawyers they can refer to you.

Will we be able to save time by having the closing in your office?

Answers to these questions will tell you a lot about the lawyer's experience and cost. As when hiring anyone for an important position, interview several before you make your decision. Be conscientious about finding the right lawyer, and make it clear to her/him that you want their attitude to be professional, but also reflect your willingness to negotiate and do what is reasonably necessary to close on the sale of your home. Spend a little time finding the right legal advice and who knows, if you're not worried about your lawyer (not to mention your finances, your job, your children, or your children's children) you MAY get a good night's sleep after all!

Yes... You CAN Sell Your Home Yourself!!

Open Houses/Showings/Salesmanship

Now that your house looks great, you've chosen a lawyer you like and trust, the FSBO sign has been strategically placed for optimum visibility, and you have placed your ads, you are ready to take those extra steps to make a great looking house irresistible. Your first Open House is very important. Think of it this way - You've seen the ads advertising the grand opening of a local restaurant. When you go to try it out, the dinner is cold, the waiter is rude, and out of the corner of your eye you are fairly sure you see small dark objects scurrying across the floor. Your overall impression is less than positive. The same could be true when a potential buyer comes to your Open House. Chances are you will have one shot at making that all important first impression, and here are some tips to help you do it with style:

OPEN DOOR POLICY - The front door is open, welcoming your GUESTS (think and TREAT
them as friends coming to dinner!)

THE GUEST REGISTRY is laid out and includes a space for a name, address, and phone #. (This will enable you to do follow-up calls to find out how your guests felt about your home.) You should also find out where they heard about your house/open house. This will help determine where you should be spending your advertising dollars.

THE FACT SHEET is placed next to the Registry, with all the pertinent data on your home. (We can offer you guidance on what to include on your fact sheets, and produce full color handouts for you if you like.)

FOOD - Having coffee and cookies, or wine, cheese & crackers with cocktail napkins makes the overall experience a memorable one.

FRESH FLOWERS throughout your house adds a wonderful look and smell.

MUSIC - Keep it classical and keep the volume low.

Add to this list your own creative ideas, but the object is to make your house look as much like "Lifestyles of the Rich and Famous" as you possibly can. REMEMBER - even if your eventual buyer doesn't even show for your Open House, you want curious neighbors to get a favorable impression and do what neighbors do best - TALK!

Example: The Jones' come to your Open House. One week later, the Jones' are playing tennis with the Smiths (who are new in town and looking to buy a house). The Jones' enthusiastically tell the Smiths about the house on their street - YOUR HOUSE. After the tennis match, the Jones' drive the Smiths by your house... well you get the idea. REMEMBER - it all started with that FIRST OPEN HOUSE! PULL OUT ALL THE STOPS! In between Open Houses (hopefully you are planning Open Houses every 2 or 3 weeks) you will need to be available for showings by appointment. Leave 45 minutes between appointments, and after showing your house from top to bottom allow the prospective buyers to walk through your home by themselves. Be ready and willing to answer questions, but never make excuses for your home. "Please excuse the mess", or "Gosh, I've been after my husband
to fix that leaky faucet for 3 years", falls into the dreaded "making excuses category". Instead, be honest. But point out the positive features.

You are the salesman. Encourage you potential buyers to take the next step. If they say $229,000 is simply out of our price range, counter with "Why not make an offer!" The goal is to sell you house and get on with your life. So decide ahead of time to: BE POSITIVE, BE AGGRESSIVE, STAY NEUTRAL. In doing so you will be more likely to sell your home and make the experience a pleasurable one.

For Sale By Owner Tips and Advice

Job Fair USA

RockfordLink.com - Rockford, Illinois Area Guide and Information

For Sale By Owner (FSBO): Sell your Home, Property; Buy Real Estate @ Rockford For Sale By Owner

5730 Knollwood Road, Rockford, Illinois. 4 Bed, 3.5 Bath, 2.5 Car Garage, Bi-Level.

Selling your home "By Owner"

PREPARING YOUR HOUSE FOR THE MARKET

Open Houses/Showings/Salesmanship