Private Is Possible
If you’ve ever sold a home or considered selling one, you are aware of the decisions that need to be made. One major decision is whether to sell privately or list with a realtor. Contrary to popular belief, selling (and buying) private can be accomplished successfully and easily. There is a lot of negativity surrounding private sales, much of which is due to lack of knowledge.

It is true that most homes are listed and purchased through a realtor. Why is that? Several possible reasons may be lack of time; lack of knowledge about how to market your house or the procedure involved in presenting and accepting offers; expensive advertising, as well as advertising that causes for sale by owner ads to be lost among the real estate ads. Furthermore, there’s the pressure from realtors who call and persuade you that selling privately will be unsuccessful. These reasons need not deter you from selling privately because they are not necessarily accurate.

Based upon experience, as well as speaking with individuals who have sold their own homes, it is quite easy to market and sell your house. After all, you know your home better than anyone. In the past, I have had agents paged to answer a question regarding a home I was interested in with little or no response. If there was a response, half of the time the agent lacked the knowledge about the home to answer my question. Dealing directly with the homeowner you will receive the answers you need immediately. This allows you to make a quicker decision about whether the home may be right for you. Since a realtor can’t tell you what they don’t know you may buy a house without getting the full story.

I have purchased four homes and sold three. Among the three that I sold, two were listed with a realtor, much to my regret. The home which I sold privately was sold for over $200,000. Real estate fees would have cost me $15,000 which would have required me to sell the home for more. When the offer was written up it was smoother and quicker than we had experienced when a realtor was involved. The purchaser’s lawyer helped them write an offer which they presented to us. In less than 24 hours we had our lawyer review it and then forwarded the purchaser’s copy to them. Dealing with an agent we have found that an offer could take several days to complete since there are more people involved in the transaction.

Once you have made the decision to sell your home, you will need to determine how much your house is worth. This is key to selling. If the price is too high you will lose the majority of potential buyers in the first 2 weeks. If the price is too low you’ll lose money and people may wonder why you’re selling for so little. It is important to find out how much the houses in your area have sold for in the last year. Find out what features are similar or different than yours, then set your price.

This article is not to advise you that listing with realtors is the wrong way to sell your home, it is meant to help you see that it need not be the only way to sell your home. If you decide to sell on your own try not to give up too easily. Patience is a necessity when selling a home, whether privately or with an realtor. Buying a home is a big investment which is not jumped into quickly. Think about how long it took you to find your home. Consider this when potential buyers are looking at your home. Give private a chance, for buying and selling. Your lawyer can help you with offers and the procedures which you may be unfamiliar with.

If you feel you need to list, choose a realtor carefully. Sign a contract for the shortest length of time so that if your realtor is not fulfilling your expectations you will still have time to sell on your own. Make sure that the contract allows you to sell privately in the event that the listing expires.

Realizing that the ‘For Sale By Owner’ has limited resources for selling, The Private Exchange newspaper is being published. By advertising only private sales it is easier for individuals to find your listing. The use of colour photos allows potential buyers to clearly see your home. In addition, the advertisement gives a full description of your home so that buyers know what to expect. Your home is available for viewing on the Private Exchange website 24 hours a day, 7 days a week. It is my hope that more people will take the initiative to sell and buy private. It can be beneficial for the homeowner, as well as the purchaser.

We receive many calls everyday regarding our services for private Home sellers. Here are some of the most commonly asked questions:

Q. We are thinking of selling our home privately. What exactly does the Private Exchange do?
A. · Once you’ve decided to market your home using our system, call your local Private Exchange office to set up a home visit with one of our consultants.

· At the home visit, the consultant will take six high-resolution digital photos of your home & gather the information and features regarding your home.

·The home consultant will provide you with a metal framed “FOR SALE” sign, a Seller’s Guide and Buyer’s Guides. The sellers guide guides you through the sale process and the buyers guides are to be handed to serious buyers. The buyers guides contain offer to purchase forms, instructions on how to fill them out and our lawyers phone number to offer free offer writing assistance. You may also have the offer reviewed at no charge through our lawyer

· The home consultant will develop a 70 word description of your home will be published in our bi-weekly paper with a colour photo until your home is SOLD. 50,000 copies per month are distributed throughout Windsor and London regions.

· Up to 6 colour photos, and the same 70 word description will appear on our website (privateexchange,com) within 48 hours of your home visit, and will remain on our website until your home is SOLD.

· You will also receive 30 legal size colour feature sheets to present to individuals viewing your home. Your feature sheets will be ready for proofing within 48 hours of your home visit. Once proofed, copies may be picked up at our office, or mailed to you! We will also provide you with up to 4 open house signs.

Q. Where does your paper get distributed?
A. We distribute to all Zehrs, Sobeys, A and P, Food Basics, Price Chopper, Bank of Montreal, National Bank, Laurentian, Scotia Bank, Shoppers Drug Marts, some variety stores, hardware stores etc. Over 300 busy Locations across Windsor and London regions.

Q. How long does it usually take to sell a home privately?
A. This varies depending on price, location and maintenance of the home. It also depends on how serious the home seller is. The serious Private Exchange client will likely sell within 45 days. Homes that are overpriced must often take longer to sell. In these cases, the price may need to be adjusted in order to generate new interest. The longer your home is on the market, the more skeptical potential buyer’s become about the home. Price is everything!

Q. Will you give us an idea of how much our house is worth?
A. No. Private Exchange consultants are not allowed to give their opinion regarding the value of your home. We recommend a certified appraisal. It is well worth the $175. You could also use the appraisal as leverage when negotiating with potential Buyer’s.

Q. If someone is interested in purchasing our home does the Private Exchange help write the offer?
A. No. A real estate lawyer would be happy to assist you with having an offer professionally drawn up.

If you have further questions about our services please feel free to call or visit your local Private Exchange office.