For Sale By Owner Resource Guide - North Carolina
How Do I Sell My Home Without a Realtor®?
If you're selling your home For Sale By Owner (FSBO), allow us to welcome you to the Real Estate Business. We understand why you want to sell your home without a Realtor® it's to save on the commission costs. That's respectable, and we can appreciate your frugality. Is it possible you could save even more money by working with a Realtor®? Keep in mind the typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales (NAR Statistics) that's a 25% increase in average sales value when an agent assists with the sale.
There's a reason why the Founder of forsalebyowner.com used a Real Estate Agent to net an extra $150,000.
You're probably wondering 'How Do I Sell My Home Without A Realtor®?" This guide will help to answer that question for you, and we have the documents you need yo sell your home on your own below.
If you're going to sell your home For Sale By Owner, legal responsibilities now fall on you, and the buyer. This page contains information and resources you need as a FSBO, as well as information that will assist with your sale and decrease your liabilities. Selling your home yourself takes a lot of time, energy, and availability to answer the phone and follow up.
Some of the Forms you May Need to Sell For Sale By Owner in NC:
North Carolina Sales Contract
North Carolina Residential Property Disclosure Form
North Carolina Mineral and Oil Rights Form
North Carolina Occupancy Agreement
Lead Based Paint Disclosure is required for homes built prior to 1978
Statistics show that selling your home with a Realtor® will make your money.
89% of For Sale By Owners will list their home with a Realtor®
There's a reason the Founder of ForSaleByOwner.Com used a Real Estate Agent. So did the founders of Craigslist and ByOwner.com. They are experts in creating online businesses through websites, and web traffic, Realtors® are experts in selling homes. As with any industry some Realtors® are better than others. If you are of the mindset that a Realtor® doesn't earn their paycheck than you are not working with the right Realtor®. At Raleigh Realty we spend hours reverse prospecting for our clients. If you're unfamiliar with reverse prospecting in Real Estate feel free to ask us about how our marketing strategies, and selling techniques are putting sold signs in our clients front yard's.
Information Provided by The National Association of Realtors®
- FSBOs accounted for 9% of home sales in 2013. The typical FSBO home sold for $184,000 compared to $230,000 for agent-assisted home sales.
- FSBO methods used to market home:
- Yard sign: 36%
- Friends, relatives, or neighbors: 28%
- Online classified advertisements: 16%
- Open house: 14%
- For-sale-by-owner websites: 13%
- Social networking websites (e.g. Facebook, Twitter, etc.): 7%
- Multiple Listing Service (MLS) website: 7%
- Print newspaper advertisement: 7%
- Direct mail (flyers, postcards, etc.): 1%
- Video: 1%
- Other: 2%
- None: Did not actively market home: 32%
- Most difficult tasks for FSBO sellers:
- Understanding and performing paperwork: 18%
- Getting the right price: 13%
- Preparing/fixing up home for sale: 12%
- Helping buyer obtain financing: 3%
- Attracting potential buyers: 3%
- Selling within the planned length of time: 7%
- Having enough time to devote to all aspects of the sale: 6%
The most difficult tasks for FSBO sellers is performing the paperwork. We have made it easy for you by providing you the documents above. If you need help 'getting the right price' give Raleigh Realty a call at 919-249-8536, we can help you come up with the appropriate price for your home to sell. If you look at the average price of FSBO homes to Agent assisted homes there is a 25% higher net value when a Realtor® assists with the sale. Could you use an additional 20+% in your pocket?
If after 14 days your home doesn't have an offer, call a Realtor®
If no one has made an offer on your home within the first 14 days chances are something is wrong. Whether it's your marketing, your price, or your ability to sell your own home there should be an offer made within the first two weeks. You might be thinking, 14 days? That can't be right. As part of our strategy at Raleigh Realty if we don't have an offer within the first 14 days, we make a change. A change that will get the home sold.
Selling For Sale By Owner puts you at a disadvantage:
You will be competing with other homes in your area, and yet you are at a competitive disadvantage when you don't have a Realtor® working for you. Even if you're listed on the MLS do you know how to work with CSS showings to gather feedback? Have you had your home inspected, appraised, and marketed to the right segment of potential buyers? Purchasing and selling a home is one of the largest financial transaction of someone's life.
Selling your home yourself? Hire a GREAT Real Estate Attorney
There is a lot of legal obligation that is placed on the seller, rather than that legal obligation being placed on a Real Estate firm, when selling For Sale By Owner. There are several things For Sale By Owner's can do to reduce their liabilities, such as hiring a great Real Estate attorney.