A Step By Step Guide To Selling Your Own Home is a free eBook for FSBO sellers. Written by Christopher Dilling, a successful advertising executive, property investor, and realtor, he cuts through they hype and gives you the tools that you need to sell your home on your own.
The book tells you how to:
Calculate the true costs of selling your home
Prepare your home for sale
Plan for the time commitment
Qualify buyers
Host a successful open house
Find the professionals you will need to hire the “Super 8”
Avoid common FSBO pitfalls
Market your home for “Top Dollar”
1. A Step By Step
Guide To Selling
Your Own
Home
a free eBook
by Christopher Dilling
chrisdilling@gmail.com
2. First off, don’t let anyone tell you, you
chrisdilling@gmail.com
can’t do it! You Can!
Second, don’t let anyone tell you, that its
easy, Its hard!
3 Key Ingredients – Time, Knowledge, &
Money
3. Let’s talk about the money first
ForSaleByOwner.com tells you that you will save $18,000
This is incredibly misleading. Calculated by Real Estate Price of $300,000 X 6%.
Don’t fall for it! They want your money, and you can sell your home on your
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own, but its not free.
The going rate in El Cajon, CA is 5%
2.5% = Listing Agent & 2.5% = Buyers Agent
Cold Truth: You can’t save the buyer’s agent commission unless you sell your
home to someone you know. 90% of buyers work with a buyer’s agent.
Buyer’s agents are paid by the seller. If no buyer’s agent then buyer’s want the
price reduced by that much. Also, if you ignore 90% of the market, you’re
average offer price will go down far more than 2.5%.
4. chrisdilling@gmail.com
STOP!
If you don’t believe me on the last point. Stop everything you’re doing and
research like crazy. Its an inescapable truth that you can accept now, or pay for
later. Later will cost far more than BOTH the agent’s commission.
OK, now lets continue……..
5. So how much can be saved?
We are saving the listing agent commission of 2.5%. In our example, that is
$9,000. However, when selling your home on your own, to preserve these
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savings
1) You must not spend more than $9,000 selling your home
2) The home must not sell for less than $9,000 less than its potential
3) You must not make more than $9,000 in mistakes
4) Or any combination of the above ($3K cost/$3K discount/$3K errors)
6. What are the costs to sell FSBO?
You must ensure you’re For Sale By Owner property receives maximum
exposure. Otherwise, you will sell at a discount! More bidders = Higher Price
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Proper Accounting of a FSBO Marketing Plan:
appraisal: $500
home inspection: $350
professional photography $300
attractive mailer: $1950
flat fee mls listing: $500
plus “featured” option $150
marketing on other websites: $150
designer/staging advice $150
designer/staging advice $150
newspaper ads $80
for sale sign & directionals $590
open houses & signs $200
real estate forms $50
flyer box and color flyers: $100
lockbox for buyers agents: $50
ppc/facebook advertising $0 - $800 (optional)
attorney time $450
Total $5,570 + $950 (in options)
7. Actual Cost Savings of Selling FSBO
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So a Real Estate Agent will cost us $9,000.
Selling with the equivalent exposure cost us $5,570
$9,000
- $5,570
= $3,430
Total Cost Savings are $3,430 without the options and $2,480 if you choose the
options. As long as those savings are not given up due to a negotiating error,
oversight, or other mistake
8. What are the mistakes?
• Falling out of escrow due to accepting unqualified buyer/offer
• Paying for reports, inspections, or fees normally paid by the buyer
• Failing to withhold and submit the taxes
• Time delays that cause buyer penalties that you must reimburse
• Time delays that cost you in carrying costs
• Legal issues from failed disclosure or non-compliance w/ equal housing rules
• Falling victim to the “defect rug pull” by unscrupulous buyers (explained in
book)
• Failing to estimate the opportunity costs.
9. The final step in estimating cost savings
One costs that is often overlooked, yet is very important when calculating your
true costs savings is your opportunity costs and/or risk.
Opportunity Costs:
Selling your own home FSBO is a very time consuming affair. Your time is valuable. For
instance, if you must consume a total of 10 days of your saved vacation time, and
you’re salary is $52,000. Then your vacation days are worth approximately $200 per
day, or $2,000.
Risk:
If you can earn overtime at your job instead of spending your time selling your home,
you might consider eliminating your risk by having an experienced agent do the job for
you. Remember, if the agent fails to sell your home for an acceptable price, you spend
nothing, but if you fail, you still incur $5,000 in expenses.
10. This slide show has bulleted the 1st chapter of my eBook
“A Step By Step Guide To Selling Your Own Home”
Please download to discover how to:
Prepare your home for sale
Plan for the time commitment
Qualify buyers
Host a successful open house
Find the professionals you will need to hire the “Super 8”
Avoid common FSBO pitfalls
Market your home for “Top Dollar”
http://www.chrisdilling.com/more/free-ebook
Thank You
-Christopher Dilling
11. About the Author
Chris Dilling is a premier real estate expert in San Diego. For over 6 years he has been innovating in
the world of real estate, from trend analysis, to the application of economic theory to real estate
transactions, to agency services. In 2014, he partnered with Berkshire Hathaway HomeServices –
one of the largest and most elite brokerages in California -which is where he hangs his license still.
Chris has carved out a niche in East County San Diego as this is where he and his family call home.
Originally from Oklahoma, Chris found East County strikingly reminiscent of his small town of
Woodward. A transplant since 1999 he considers himself a local and participates heavily in this
diverse and fascinating community. (844) I-Sell-SD is the brand he has created along with his team of experts, and
together they have become a full-service real estate provider.
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