The Beeler Group

Every day hundreds of homeowners are selling without an agent.  Although utilizing the services of a professional real estate agent is the easiest way to sell a home, there are systems available to those homeowners who feel they can manage the transaction on their own.

The component you’re missing when you do a “for sale by owner” is the knowledge of the Realtor – not only of the selling environment but of the laws surrounding a home sale. On top of that Realtors are required to take ethics oaths, are always taking continuing education classes and serve as that unemotional go-between during the negotiation.

The process of selling “for sale by owner” (FSBO) requires the homeowner to be educated in how to market their home, who to market it to, and understand how to manage the paperwork involved in a real estate transaction.

There are companies who specialize in providing FSBOs with the tools necessary for selling a home.  These companies either charge a percentage of the sale, or a flat fee for services.  Such services may include signage, contracts, flyers, flyer boxes, and a link to the home on the company’s website.  These services usually do not include information on how to market the home for sale to attract as many buyers as possible.

Whether using FSBO services from a company or not, there are several steps that must be taken in order to sell a home and meet all legal, and taxable, requirements.  Here is a short list of what you need to obtain and understand before handling the sale of your own home:

Legal and binding contract forms
Federally mandated disclosures forms
Proper disclosure of defects
Tax ramifications, including but not limited to IRS capital gains requirements
Real estate tax information, distribution, and responsibility
Deed restrictions and liens

Some states will have standardized forms available for homeowners who attempt to sell on their own, and there are packets of forms available at many office supply stores.  If using the latter, it is a good idea to contact an attorney to review the forms to ensure they are legally binding, protect the seller, and meet all local, state and federal guidelines.  In addition, there are some federally mandated forms such as the Lead Based Paint Disclosure form that, if not included in a real estate transaction, can result in penalties for the seller.

One of the risks for FSBOs is litigation brought forth by angry buyers after the close of the transaction due to failure to properly disclose any known, and unknown, defects in the property.  That is why it’s imperative to have a home inspection on the property prior to putting it on the market.  Although most buyers will have their own home inspection conducted, some will not, further opening up potential law suits in the future after the close of sale.

FSBOs should always investigate the tax consequences of selling their home, whether on your own or with a realtor.  Consult a tax professional for advice on capital gains laws that may end up resulting in additional taxes due at the end of the year, on any unpaid local taxes, and the responsibility for the current year’s real estate taxes.

Attempting to sell a home “for sale by owner” is possible, but many critical issues must be researched in order to guarantee a successful, legal sale.  By contacting the right professionals, understanding the law, and being proactive about taxable consequences, selling a home without an agent can be achieved with success.

As part of our Selling Home Checklist, here are some more cheap and fast tips that will really pay off when buyers come to your house.

Curb Appeal, with a twist.

You know that house down the street, the one with the great lawn? If it went on the market, how likely would you be to take a peek? Now compare your feeling about that to the one up the street that’s never been well maintained? It’s different, eh?

Regardless of whether or not you’re planning on selling your home, taking steps to improve the curb appeal now will pay dividends later. When you’re getting ready for the holidays, consider re-painting the front door and trim. That will look great when company visits. Consider a great door knob, cool hinges and a door mat that kills. Easy stuff impresses.

Home Lighting

Lighting is expensive. Like framing and glasses, there’s just no getting around that. But that doesn’t mean you can’t find some great pieces at Goodwill, your local Habitat for Humanity overstock store or even garage sales. Keep your eye for great pieces. They not only make your home feel homier, but you’ll be much more confident when it comes time to sell your home.

Wash the exterior of your house

Washing is so much cheaper than paint, but most of the time you’ll get the same result. Power washing (or Pressure washing) sidewalks and driveways will clear away years of dirt, mildew, grime and dust. Don’t go power washing your house until you test it out on the paint first. No sense in creating a new problem.

Re-Caulk Plumbing Fixtures

Ever taken a shower in a hotel where all the caulk was old and cracking? You immediately thought “this place is old” didn’t you? For some reason, caulk can really make someone feel like the place has been left unkempt. With all the crazy color of caulk these days, you can really give plumbing fixtures a brand new look. And think about what your tile shower will look like with new caulk color?

Those are just a few more selling home checklist ideas for you.

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• Lake of the Ozarks Homepage
• 4 Home Selling Tips
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When your prospective buyer walks through the front door they will form an INSTANT first impression. Little things can make a HUGE difference.

• Keep the porch swept and clear of debris
• Add a seasonal pot of flowers or a wreath on the door
• Refresh the air periodically with a vanilla scent.

Once through the threshold, what does the prospective buyer SEE? It is your home and it is difficult to remove yourself personally and answer that question.

And here’s something else that really works.

Before the Realtor comes to take photos for marketing, take your own photos. Sit down and study each one. You are now outside of the room looking in. You are a visitor in your own home. You’ll find yourself saying: “That picture looks so ALONE hanging over there”, “that window doesn’t even show”, “the room looks so crowded”.

In most cases, it’s an easy fix! Clear the palate! They came to see your HOME— not the contents. The eye will usually go to the vibrant color, etc. We want them to SEE the bones of the house!

So, have fun with it! You will learn so much!

Mike and Anita Sievers
573.302.3660 Office

Related Posts:

• Lake of the Ozarks Home Buying Tips
• Pricing your Lake Home to Sell
• Home Selling Mistakes

When you hire a Realtor (which you can cross off your selling home checklist), you expect that your home will be listed in the MLS system, likely on Realtor.com and perhaps even on Homes.com.  Traditionally that has been enough so that other Realtors can find the listing and show their clients.

But did you know with the ease of the internet, buyers are now directing homes to their Realtors to set up times and visits? And that means expanding the places your home can be found.

When you list your home with us, we can make sure that people looking can find it all over the internet. From videos on YouTube to ads on Craigslist, from email marketing to niche websites and even podcasts and Google Maps. The best chance a Seller has to sell their home is to get it in front of as many people as possible.

Have you considered setting up a website specifically for your home, with a scanable QR code on the sign in the front yard? If you haven’t, don’t worry – we have. Our goal is to get your home viewed by as many people as possible starting immediately upon it being listed. And we’ll even send out special invitations before its listed in the MLS if you’d like.

Call us immediately to talk about your options when it comes to marketing your home. Let’s start talking about all the items on your selling home checklist – and work together to get them done. Old school real estate just doesn’t cut it for hip iPad carrying soccer moms and iPhone savvy businessmen.