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By Emilio DiSpirito, Realtor, DiSpirito Team of HomeSmart Professionals
you want to sell your home? You will be doing a lot of things that real estate
agents normally do; we accounted 185 steps on the listing end and 175 steps on
buyer end that a Realtor takes for homeowners. The homeowner will be relying on
their limited experience when tackling this. Although putting your house on the
market and making a big “FOR SALE” sign may not be that difficult, the biggest
challenge is finding buyers. Here is a step-by-step guide to putting yourself
on the right track when selling your home.
of the biggest mistakes FSBO’s make is overpricing their home. Why is this an
issue? Buyer’s interest. The home selling market dictates the price (not what
you think it should be worth). The easiest way to accurately price your home is
to contact your local home appraiser. This way, you know what you’re getting yourself
into price, repairs, and market wise. This will allow you to already be one
step ahead of buyers, their agents, and any road blocks that come in your way
when it comes to the condition of your home.
In Rhode Island, buyers have 10 business
days to do an inspection. All standard
real estate contracts are going to give the prospective home buyer the right to
inspect your property – so be prepared. Under a general inspection you are
obligated to make major repairs to appliances, plumbing, septic, electrical and
heating systems – or the buyer may cancel the offer.
Make sure you fix any health or safety
issues during this time.
What Should Be Fixed?
is everything. Home buyers are lured by clean, spacious and attractive houses.
Don’t get discouraged, we aren’t saying your home isn’t good enough – ENHANCE
its features. Treat your home well making it showroom ready by decluttering,
depersonalizing, and brightening up the home with fresh-clean carpets,
lighting, and those tired walls. Simple aesthetic improvements such as trimming
trees, planting flowers, fixing squeaking steps, and broken tiles will greatly
enhance the appeal of your house.
TIP: Have someone you
know whether it be family or a friend to walk through your home and get their
putting up a “For Sale” sign, you are only hitting a small percentage of
buyers. Imagine a lemonade stand, you only attract those who pass by it. Don’t
be just a sign – make your audience broader by using the same tools realtors
use. The MLS or Multiple Listing Service can also help market your home,
particularly to real estate agents who may know of buyers seeking a property
like yours. The MLS is a directory used by real estate agents to announce to
other agents that they have a home for sale.
realtor MLS by “entry only listing”
DON’T be misleading
DON’T limit your photos
DO put a description
of the property, using your words to walk the buyers through the house just by
reading your remarks.
DO compensate buyer’s
agents. If a real estate agent finds you a buyer after seeing your home on the
MLS, you SHOULD pay that agent a 2.5% to 3% commission (the law states that all
commissions are negotiable, however).
DO make sure to make
yourself readily available to show your property. You are your home’s
though it’s an additional expense, it may be wise to hire a lawyer who will
protect your interests throughout the entire transaction. An experienced real
estate lawyer can help you evaluate complicated offers (those with a variety of
conditions), act as an escrow agent to hold the down payment, evaluate complex
mortgages and/or leases with options to buy, review contracts and handle your
home’s closing process. They can also tell you what things, by law, you must
disclose to buyers prior to a sale and can also help you avoid inadvertently
discriminating against any potential buyers.
the buyer pre-approved? How much of a loan is the buyer seeking? Unless you are
in an active market, lenders tend to shy away from underwriting a deal in which
the purchase price is higher than the nearest comparable sale and the buyer is
putting less than 10% down. If this is the case, your buyer may not be able to
The Bottom Line: Do your research.
This is the deciding factor whether or not your transaction becomes a profit or
a loss. When you’re FSBO-ing, you’re doing everything, handling the open house,
taking calls from buyers and brokers and negotiating. Selling your home without
a real estate professional is not impossible, however, you have to be your own
advocate and your homes BEST salesperson. It can get scary, have bumps in the
road, you’ll get bad offers, and unfit buyers – but you don’t have to throw in
the towel. Selling a home yourself requires due diligence, patience and
If you would have asked me what I wanted to be growing up, little Emilio would
have told you “an archeologist” or “an architect” despite
the fact that at age 8 I had my first lemonade stand, landscaping business and
was recording my first “news show” on my boombox! Well, I never
was much good at trigonometry and did could not see myself traveling for months
and possibly years at a time, so becoming an architect or archaeologist clearly
did not happen!
forward 26 years later and I’m running a team of the finest residential real
estate professionals, own a media company and host my very own radio news show
about real estate!
September of 2017, I married my best friend, Jaclynn, and we have two wonderful
children, Destinee and Emilio, V. We have 3 dogs, one of which is a
rescue and live in lovely Rhode Island. Jaclynn owns a high-end hair salon in
addition to an on-location hair and makeup business!
7 years straight it seemed that I had put in more hours than the day had to
give on my real estate business. 7 days a week, 14 to 16 hour days, without a
break! Why? My friends and family did not understand the sheer magnitude of
moving parts and services we offer to our clients during a transaction! One
slip up or one missed call could mean make or break for someone’s dream home or
even a lost deposit!
a team of like-minded, highly qualified and capable professionals has allowed
me to offer a very streamlined, simplified and efficient approach to the sales
process for our clients and allowed me to earn personal time again with my
family while not missing a beat for my clients!
I’m not working, I’m with my family, riding my mountain bike, eating at a
number of local restaurants, enjoying live entertainment, hiking, skiing or