For sale
by owner or popularly known as FSBO is a process of direct selling of the house
by its owner without involving a middle man or agent in the dealing. It is a
direct dealing between buyer and seller. There are various reasons why sellers
go for FSBO. It may be due to an incentive of saving money, many people believe
that if they hire an agent, they will have to pay him. Secondly, many sellers
have ample time to deal with new people coming out to buy their home.
No
matter what the reason for sellers may be, there are equal pros and cons for
buyers. Dean Graziosi suggests all buyers to keep in mind that the mindset of
seller is different from a real estate agent. They cannot expect same things
from a direct seller that they have experienced while dealing with real estate
agents. Direct sellers are more conscious about their house.
Some are
selling homes in which they have lived for decades; they are sensitive towards their
property. Dean believes that while dealing with direct sellers one must not make
direct comments about the house. Dean Graziosi is a realtor with above two
decades experience in the field of real estate. He entered in the field of real
estate when he was just 18 years old, a young teen, with no experience and very
little money. Perhaps this is one of the main reasons young aspirants eagerly
drive inspiration from him.
Dean does
not belong to a Richie rich family. Contrary he belongs to a poor broken
family. His mother worked day and night just to earn 90$ a week. Dean's were
two siblings he has a younger sister. He studied in a local school and never
made above 10th grade. His classmates often made fun of him due to his poor
appearance.
He never
lost hope, and he never gave up. Starting from a run-down apartment building,
today Dean is signing 50+ deals every week. He is a motivating public speaker,
a bestselling author and a successful
entrepreneur.
Due to such a vast experience, Dean has firm grip over all real estate matters.
Let us have a look below to see how Dean teaches buyers to deal with FSBO.
How to approach FSBO seller:
When you
are going to sign a deal with FSBO seller, you must keep in mind that they are
no more different from other sellers. The only difference is that they are more
conscious and they are more sensitive about their house. At times, they might
become sentimental, the trick is never to lose your patience and of course
always try bargaining!
Money Matters:
Most of
the sellers go for FSBO because they want to save money. Not that they will
share it with you! In many cases when sellers are debited, they will try to
save as much profit as they can. In such cases, if you think they will pass the
profit to you, you are on the wrong note.
Bargaining:
Most of
the FSBO sellers set price of the house after examining listings, they do not
have concern with local market and neighbor value. This is due to the fact that
they think every penny that they charge is worth it. They have spent so much
time and money with the house that now it is precious for them. However, as a
buyer you must search what is actual worth of the house. You must decide what
changes are worth paying and what are just fancy to the house. Start from
lowest possible price. Gradually increase the bid and end at what is fair and
according to the market. Stay firm on your final bid and let the seller make
the decision.
In such
situations it is important to note that most sellers can easily detect you are
in love with the house. Act smartly and quote smartly.
Miscellaneous:
Although
there is no state agent involved in the deal, all the other matters are same.
It is necessary that you must check all legal and financial issues before
finalizing the deal.
- If the asked price is fair
- Inspect the property yourself, conduct a professional inspection with the help of a professional inspector
- Make an offer and go for negotiations on agreement.
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