Selling Your Home On Your Own

Make sure you're ready to handle these important issues

Many Boca Raton homeowners believe that to maximize their profit on a home sale they should sell it themselves. They feel as if selling a home is simple and therefore should not pay a fee for something they could do themselves.

Almost half of the homeowners who have tried to sell their home own their own say that they would hire a professional the next time they needed to sell. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO’s have told us that the time, marketing, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the broker’s fee which would have included many of these charges up front.

Selling a home requires a detailed understanding of the real estate market. Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing professional help.

Do I have the time, energy, understanding, and ability to devote to sell my home?

One of the keys to selling your home quickly and profitably is complete accessibility. Many homes in Boca Raton have stayed on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of sacrifice is going to need to occur in order to make time for last minute showings.

Am I prepared to deal with a lot of buyers who think FSBO’s are a targets for low balling?

One of the challenges of selling a home is the time that is wasted showing the home to unqualified buyers and dealing with people who make ridiculously low offers. Settling for a lowball offer is often worse than paying broker commissions.

Do I fully understand the legal steps required in selling a home?

Many Boca Raton home owners have lost sales due to incomplete paperwork, lack of inspections or not completing the proper repairs. Are you sure you’re completely informed of all the steps necessary to sell real estate?

Before or after an offer is presented, do I have the capability of handling the legal contracts, or disputes that may occur?

If you are not prepared to handle disputes with a buyer, you should definitely seek the help of a professional broker. Many home sales in Boca Raton have been lost due to misinterpretation of what was negotiated in a contract.

Have I contacted the necessary professionals....title, inspector (home and pest), and attorney?

If you’re not familiar with the top inspectors, attorneys and title companies, you could be in for a rude awakening. An inadequate professional could slow, delay and possibly even cost you the transaction.

About Wendy and Elliot Koolik: Wendy and Elliot Koolik are a recognized leader in the Boca Raton luxury and country club real estate communities. While they are active in all of Palm Beach County, they focus on Boca Raton, Delray Beach and Highland Beach.

Wendy and Elliot Koolik are part of Koolik Group Realty, a family-owned and operated real estate company serving buyers and sellers since 1990. The real estate firm is known for its responsiveness to clients, knowledge of the neighborhoods they specialize in and, above all, for its boundless passion for the real estate business.

For more information, contact Wendy and Elliot Koolik by phone at 561.393.9997 x113, online at www.ElliotKoolik.com or by e-mail at EKoolik@Koolik.com.