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For Sale by Owner: Tips Every Seller Should Know

Whether it’s your own home or a piece of commercial real estate, selling your property comes with a lot of different expenses. If you’re looking for ways to cut out the middleman and make a bit more profit, listing for sale by the owner can be a good solution. Before you dive headfirst into this possibility, it’s vital to understand a few important tips about going for sale by owner route, so read on to learn more.

  • Selling your own home is a lot of work and requires knowledge of the market, lots of energy, and time. Be prepared to market your home completely on your own and to dedicate lots of time to open houses, answering questions from potential buyers, and making upgrades.

  • If you want to go for sale by the owner, make sure that you are up for the job. This process can be extremely draining and may take a lot more time and money than you bargained for.

  • You can sell commercial real estate yourself, but make sure that you’re legally allowed to do so. Some buildings like strip malls or office buildings where you share property in one location may require you to use a licensed real estate agent.

  • Keep your eyes on the local market to make sure that you list your home for a competitive price. If you list too high, it could take longer to sell, and if you list too low, you could definitely lose out on potential profit.

  • Make sure your property or commercial real estate is clean, up to date, and in good condition. You don’t want to list something that needs repair, looks outdated, or that won’t appeal to today’s buyers.

  • Use online apps and websites to your advantage and market your home or commercial property wherever you can. The more resources you can use to market your home or business, the more people you will reach.

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