“You can get rid of the broker, but you cannot get rid of the broker’s work” is an old caution for those who intend to offer their homes “For Sale By Owner” (FSBO) or for those buyers who wish to buy without professional representation. Selling or buying on your own is not an easy undertaking. It requires a significant amount of time to study the process, understand your obligations, and do some of the complicated work that a real estate agent does. In addition, selling or buying on your own requires extra help from outside professionals, such as a REALTORS®, accountants or attorneys for some of the jobs that require specific expertise.
Here are several important considerations:
- As a personal safety measure, only show your house to those individuals with whom you’ve made a prior appointment that’s been confirmed by phone.
- Don’t price the house so low that it sells too quickly – pay for a market value appraisal by an experienced appraiser.
- Hold out for a buyer with written pre-qualification from a lending institution.
- Find out your legal obligations.