Are you an Arizona home owner trying to sell your property via FSBO?
If you answered yes to that question, then it beneficial that you understand some of the techniques and principles of FSBO (For Sale by Owner). According the most FSBO experts, selling your Phoenix, Arizona property directly fetches more money for the owner which would have otherwise gone to real estate agents. Aside from the savings, the real estate agent does not always have the best understanding of the house and the neighborhood.
Most people find the process difficult when it comes to buying and selling properties in Maricopa county and the Phoenix metro area. Most people get intimidated by the thought of selling their house which causes them to make unreasonable decisions. It is important to have knowledge of all the available options available in order to avoid pitfalls. The two most popular options considered when it comes to selling of a property are FSBO or listing through a realtor. Most Arizona sellers aren’t aware of the fact that there is another option that may be much more convenient than the other two. Selling your Arizona house to a professional home buyer is most likely the best and most convenient solution.
Advantage of FSBO (For Sale by Owner)
There are so many things that must be considered before listing your house as FSBO. Nonetheless it comes along with several benefits some of which are:
Most real estate agents have limited time when they come around for visitation with the potential buyer. It is important to have a flexible time schedule for visitation if you want to get a good price for the property. This would be much easier for you to handle if you are selling your house yourself. Most times your Phoenix, Mesa or Scottsdale real estate agent handles more than one client which may complicate scheduling. Hence it is important to have direct communication with your potential buyer to avoid problems.
Saving Agent Fees:
Real estate agents demand high commissions from their clients. Most times they demand 5-6% of the house selling price. This means the real estate agent would be paid $12,000 if your home is sold for $200,000. Do you think anyone is worth having 6% of your profit just for assisting you in the sale your property?
Direct talking to the buyers:
Going through an agent for the sale of your house would mean you might never meet the buyer which could result to miscommunication as the agent is solely responsible for the transaction. However selling via FSBO would give you direct contact with your buyer and as well provide the opportunity for you to know how interested the buyer is in your property.
After going through the pros and cons of FSBO you can now make reasonable decisions. Here are a few tips to be followed for a successful transaction if your choice is FSBO.
Do your Market Analysis:
It is necessary to know the exact worth of your Maricopa county property in the market before selling. This means a proper market analysis must be done which could be difficult if done alone. Hence you will need the help of a real estate professional to achieve this. You can speak to 2 or 3 local real estate agents to help you get the real worth of your property. As we mentioned before, your best bet will be to call one of Arizona’s Premier Real Estate Home Buyers to get a no-obligation cash offer you’re your home no matter if you are in the city of Phoenix, Scottsdale, Mesa, Glendale, Sun City, Surprise or any of the other major cities around the Phoenix Metropolitan area. Even if you do go with an agent, most of them won’t charge you for this service as they you will be seen as a potential client.
Compare the report of the real estate agents after gathering the information. The report will give you a clue about the worth of your Maricopa county property. You will get an idea of recent sales which will help you come up with the right price on your house. It becomes easier to get a good number of buyers for your house if it is well priced and selling won’t take much time.
Invest on repairs:
A real estate agent might make you repair even the most insignificant thing causing you to spend excessively and lose out on the transaction. To avoid this, understand the requirements of the buyer and make your repair based on it. Fix any larger items that are obvious and make the house as attractive as possible. Most buyers pay more attention on the physical appearance of the house.
Market your house:
Your marketing strategy and execution determines how successful your transaction would turn out to be. Hence apply creativity in your marketing. Use all possible means to market your property. Reaching out to the right audience gives you a higher chance of selling at a higher price. Print flyers containing detailed information of the property and paste around your neighborhood whether that is in the West, North, East or South valley of Phoenix. Ensure everyone is aware of your plans to sell your house.
A good salesman would always make his customers feel comfortable. Hence you need to be flexible if you want to get a good price for your property. Schedule a convenient visiting time for the buyer and reach out to them as well. Your approach towards your potential buyers will determine what you get for the property.
Time and patience is required if you desire to sell your house via FSBO. Every step that must be taken during the process requires proper attention from the owner.
Choosing the Right MLS Listing Service Provider
There are various listing services that could get your house listed on their site. These services have different factors and you might end up being confused when trying to choose an MLS listing service. There are companies in phoenix and throughout the valley that charge as low as $200 and offer only bare bones with no additional services while some provide services and packages starting from $300. With the $200 package you cannot update your listing making it a bad option. The other package provides this service at little or no cost and would provide other additional features.
Conduct a proper study on the details of the available MLS listing service before settling for one. It is a good idea to check out the third party FSBO reviews of the website or service. See also the traffic of the website as it might be popular even with good Alexa rating. The FSBO customer reviews will tell you the quality of their service. Other factors that should be considered before choosing a FSBO listing service are: location of the site and their customer service responsiveness, ease of accessibility of forms on their website. Consideration of these factors will help you choose the most suitable service provider in the 85053 area code and other areas throughout Arizona. A Phoenix homeowner can also list their property through one of the largest listing sites www.FSBO.com
FSBO (For Sale by Owner) Signs
There are different marketing tools for FSBO properties and houses but FSBO is the most effective. The reason is because it is the first impression your potential buyer has about your house. Most people do not understand the importance of FSBO signs and they neglect it because they feel it has already been advertised on the net. This is a very bad strategy since most local people tend to look out for houses as they drive by and you might loss a potential buyer with a poorly written or no FSBO sign on the property.
You can place the directional arrow signs at any intersection if your house is off the main road. It is also important to create a professional FSBO sign.
The cost of FSBO sign is at an average of $100 for sign with a reflective aluminum frame. However it costs an average of $45 if bought from an online store. Your locality will determine the number of signs you should get. You should also consider different colors for the signs to grab people’s attention.
FSBO: A Buyer’s Perspective
It is important to know the necessary details of an FSBO property before buying to avoid future regrets. Before putting forward an offer for the property in Arizona, ensure the property can be approved for a mortgage. A neutral entity or bank should be involved in this process.
It is important for you as a buyer to make proper analysis of the neighborhood as well as the location of the house. The document should contain all the necessary details that would help you make good decision and evaluate the value of the property.
Find out the estimated value of the FSBO property to know the specific value of the property before requesting for loan from a bank.
Inspect the House Thoroughly
As a buyer of any FSBO house in Arizona, it is necessary you check the property thoroughly before making any offers. You might have to consider hiring a home professional Phoenix Home Inspector to do a full home inspection. Most house owners do not intentionally hide any major house problems but they may not be aware of some major defect that is present.
Restrictions on FSBO
If you are a buyer or a seller it is important you have knowledge of both sides so both parties would benefit at the end of the transaction. Although selling your house via For Sale by Owner (FSBO) has several benefits, there are also restrictions associated with it.
The first restriction comes from handling the entire processes by yourself. All the processes involved such as the initial listing and marketing as well as final down payment will be taken care of by you. Therefore your attention would be greatly needed. The length of time taken before your property is sold depends on lots of factor and cannot be predicted. Most people find it difficult to give the required attention and become frustrated if the property doesn’t sell out fast. Rather than applying different strategy and finding a way to make it work out, they become irritated by the calls of potential buyers that never end up buying. Most sellers end up making unreasonable decisions due to frustration and panic which they end up regretting later.
Home Buying Agents!
The most convenient and effective option is to sale your Phoenix house to one of Arizona’s Premier Home Buyer. This helps you sale your house at a good price within a short period of time and at the same saves you from the high cost of getting a real estate agent. The process is simple; all you need to do is to contact Phoenix Home Buyers Group. You will be required to provide some details about your FSBO. The Phoenix investors would put a value your house according to those details and the market analysis they conduct. The pricing would also be dependent on the size, locality, condition and other factors.
It is best you also conduct an AZ market analysis by yourself but most home buying investors will offer a reasonable price for the house. The best advantage is that you do not need to make any repairs as the investors will take care of it. All you need to do is make the call and begin the move out process. The Phoenix Home Buyers Group can usually close on properties with 5 days.
For more information please call or submit your property’s information on our website at www.PhoenixHomeBuyersGroup.com