For Sale by Owner – When is it a good time to sell it yourself?
While timing is important, its more about the type of property you are trying to sell. If you have a property like a condo or a town home where there are literally dozens if not hundreds of the same floor plan in the community, it makes a lot of sense to maybe sell your property yourself. Here’s an example that may make it a little more clear, if I put 10 brand new twenty dollar bills on a table and asked you to pick the best one, what would you do? You would probably look at me like I’m a little crazy and state that they are all the same, how can you pick the best one? People do not like to think of their homes as commodities, but there are certain instances when they are just like the one next door and the one next to that one. There is not a good opportunity to differentiate yourself in the market place. You don’t need to be a marketing wizard to promote a property that is just like all the ones around it.
That being said, if you have a home that isn’t a commodity, it makes much more sense to hire an agent that can help you differentiate and promote your property to get the most value out of the sale. Now going back to timing, timing is a factor when you are selling your home whether you are doing it yourself or have an agent. Generally speaking in the Denver area, the best time to sell is middle of March until the end of August.
Most homeowners that consider doing for sale by owner are trying to save money. I have found that in approximately 80 percent of the time I am able to help home sellers increase the value of their home by more than the amount of commission I charge to sell the home. Frequently in for sale by owner transactions, the seller leaves a lot of money on the table. Bottom line, sellers when selling their homes without an agent, they may be losing out on the money they were originally trying to save.
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