EPISODE 35 – [FSBO] – ASSEMBLING YOUR WINNING FSBO TEAM

Selling your home "By Owner" does not mean selling it alone.

One of the biggest mistakes homeowners make when attempting a For Sale By Owner (FSBO) sale is trying to do everything themselves. In this episode of the Happy Homeowners Hub Podcast, Fred Turner explains why assembling the right team of professionals can make your home sale smoother, less stressful, and more successful.

Drawing from Chapter 2 of his book, The Happy Homeowners Handbook for Selling Your Home "By Owner," Fred discusses the key people every FSBO seller should have in their corner, including real estate attorneys, mortgage professionals, home stagers, decorators, and trusted friends who can provide honest feedback before your home hits the market.

You'll learn:

• Why a real estate attorney is one of the most important members of your team 
• The difference between a buyer being pre-qualified and pre-approved 
• How a mortgage professional can help avoid wasted time with unqualified buyers 
• Why staging and first impressions matter 
• How honest feedback from friends and family can improve your home's appeal 
• Common mistakes FSBO sellers make when trying to do everything themselves 
• Action steps to build your own winning team 

Whether you're thinking about selling your home next month or next year, this episode will help you understand why the most successful FSBO sellers know when to seek expert help.

Resources Mentioned:

• The Happy Homeowners Handbook for Selling Your Home "By Owner" 
• HappyHomeownersHub.com 
• Avvo.com (Attorney Search Resource) 

Connect with Happy Homeowners Hub

Website: HappyHomeownersHub.com

Subscribe, follow, and share the podcast with friends and family who are considering selling their home themselves.

Books available from Happy Homeowners Hub and sold on Amazon.com

For more details on these books, check out HappyHomeownersHub.com 

                       Click on the Amazon book links below

The Happy Homeowners Handbook for Navigating Property Claims

The Happy Homeowners Handbook For Navigating Water Damage Claims

The Happy Homeowners Property Claim Documentation Booklet 

The Happy Homeowners Handbook for First-Time Homebuyers 

The Happy Homeowners Handbook for Selling Your Home by Owner 

The Happy Homeowners Home Maintenance Journal 

The Happy Homeowners Helper (A Children's book to help with a move) 

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Transcript

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Many people think selling a home by honor means doing everything yourself. That's actually one of the biggest misconceptions about the for sale by owner, also known as the FISBO process. Selling by owner doesn't mean selling alone. In fact, some of the most successful FISBO sellers build a strong team of professionals around them. Today we'll talk about who should be on that team, why they matter, and how the right people can save you time, money, stress, and many headaches along the way. So grab your favorite beverage, settle into your favorite chair, and let's start building your winning FISBO team. Welcome to the Happy Homeowners Hub Podcast, where we share real life stories and break down the lessons, mistakes, and wins that can save you time, money, and stress on buying your first home, navigating your property claim, selling your home by honor, and home maintenance and repair tips. I am your host, Fred Turner, and each week I'll guide you through these four topics. This is episode 35 and part of our For Sale by Honor series and is titled Assembling Your Winning Fisbo Team. Years ago, a friend of mine coached youth sports, and one thing became very clear. The teams that won consistently weren't necessarily the team with the most talented players. They were the teams where everyone had a role and knew what their role was. The pitcher pitched, the catcher caught, the batters hit, the coaches coached, the parents cheered, and the scorekeeper kept score. Imagine if the pitcher decided he wanted to keep score, coach first base, and run the concession stand all at the same time. That wouldn't end well. Selling your home yourself is very similar. You may be the head coach, but you don't have to play every position yourself. Why your team matters. One of the biggest fears people have about selling their home by owner is what if I don't know enough about the mortgage, the selling costs, or the closing paperwork? The good news is that nobody expects you to know everything about everything. The goal is not to become an attorney, mortgage lender, home inspector, contractor, stager, negotiator, and moving expert all at the same time. The goal is to know enough to assemble the right team and to know when to call them for their experienced advice. As I mentioned in chapter two of my book, The Happy Homeowner's Handbook for Selling Your Home by Owner, having the right people in your corner makes the process much easier, smoother, less stressful, and much more rewarding. So let's talk about the members of your team. Team member number one, the real estate attorney. Let's start with the most important person on your team, your attorney. Now I know some of you are thinking, Fred, attorneys cost money? Yes, they do. But compared to a potential legal problem involving hundreds of thousands of dollars, a good attorney is often one of the best investments you can make. In chapter two of my book, I stress the importance of hiring an attorney who specializes in real estate transactions. This is not the time to hire your cousin's friend who mostly handles speeding tickets and divorce cases. You want someone who deals with real estate on a daily basis. A good attorney helps review contracts, coordinate with the title company, explain legal documents, protect your interests, and will help prevent costly mistakes. Here's a real life example. Years ago, I heard of a transaction where a seller agreed to wording in a contract they didn't fully understand. It created a lot of confusion later regarding repairs and the responsibilities of the repairs. What could have been a simple sale turned into weeks of stress and back and forth negotiations. A knowledgeable attorney could have identified the issue up front and could have alleviated a lot of this frustration and lost time. Sometimes a few hundred dollars will save thousands later on and lots of frustration. Team member number two, the mortgage professional. Most sellers assume this is only important for the buyer. Not necessarily. A good mortgage professional can be an excellent resource during the transaction. One of the biggest frustrations in real estate is spending time with someone who loves your house but can't actually afford it. You know the type, they walk through your house, they just love the kitchen, they love the family room, they love the neighborhood, then two weeks later they discover they can only qualify for about two-thirds of your asking price. That's like going to a Ferrari dealership with a Ford Escort budget. A mortgage professional helps determine whether buyers are truly qualified, plus, you're gonna need one on your next home purchase, anyways. Now let's talk about pre-qualified buyers versus pre-approved buyers. This is important. Many people use these terms interchangeably, but they're not the same. A pre-qualification is generally a basic review of the financial information of your buyer. A pre-approval is much more detailed and includes verification of income, assets, debts, and credit worthiness. When selling your home, you want serious buyers who are pre-approved, not just pre-qualified. That simple step can save countless hours and prevent disappointment later on. You can always request that the potential buyer contact your mortgage professional to verify their ability to buy your home if you're unsure. Here's another story. Imagine someone comes through your open house. They seem perfect, they ask great questions, they tell you they're ready to move quickly. You are mentally spending the money from the sale before they even leave your driveway. Then you learn they haven't spoke to a lender yet. Ouch! That emotional roller coaster is completely avoidable by verifying your buyer's qualifications early in the process, so you're not wasting your time. Team member number three, the stager or decorating expert. This is the next member of your team, and it may surprise you. An interior decorator, home stager, or even a friend with a great eye for design is important. Let's be honest, most homeowners become blind to their own homes. We stop noticing things like the chip paint, the clutter, the giant deer head mounted on the wall, the floral wallpaper that was trendy when cassette tapes were popular, or the pet odor that you've gotten used to over the years. A stager or decorator will provide fresh eyes on your home, a neutral, unbiased opinion of how your home will show to potential buyers. They can suggest stuff like the following furniture placement, neutral paint colors, decluttering ideas, lighting improvements, and cosmetic updates. The goal is helping buyers imagine themselves living in your home. Now let's talk about the power of honest friends. One of my favorite recommendations in my book is to invite family members and friends to walk through your home and provide honest feedback, maybe even do a survey with them afterwards. Notice I said honest friends, not your Aunt Martha who says everything's perfect, honey. You want the friends who say, Hey Fred, what's that smell? Or, have you noticed that door doesn't close properly? Constructive feedback before listing your home is much easier than hearing it from buyers after your home has been on the market for a month or two. One of the biggest advantages of assembling a team early is identifying issues before your buyers discover them. The more issues you can address before listing your home, the smoother your showings will be, the fewer surprises you'll have during inspections, the better your negotiating position, the less stress at your closing, and the faster your home will sell. As I mentioned in chapter 2 of my book, handling concerns up front can prevent delays later in the selling process. Don't try to be a hero. There's an old saying, if you think hiring a professional is expensive, wait until you hire an amateur. Sometimes homeowners try to save every penny. They avoid legal advice, they skip professional guidance, they guess their way through the pricing, and they ignore the small issues. Then those issues become big issues later on, or your home will sit on the market for a very long time. Selling your home by owner is about being smart with your money and your time, not reckless with your money and wasting your time or killing the sale later on. Think about every successful organization. A football team has coaches, a business has managers, a movie has directors, a homeowner selling their house should have advisors. The smartest people aren't the ones who know everything, they're the ones who know who to call when there's things that they don't know. If you're planning to sell your home by honor soon, here are some action items. Research real estate attorneys. Look for attorneys who specialize in residential real estate transactions. There's also a website called avvo.com, which is a website that has about 95% of all lawyers in the United States and it describes their specialties. 2. Identify a mortgage professional. Find someone you can trust who can answer lending questions and help verify buyers. Ask your friends or family members for referrals. 3. Schedule a home walkthrough. Invite honest friends or family members to critique your home. 4. Consider a staging consultant. Even a one or two hour consultation may provide valuable ideas. 5. Create your team contact list. Keep all important contacts together and in one location. Here's some final thoughts. Selling your home by owner doesn't mean you have to do everything yourself. The most successful FISBO sellers understand that assembling a winning team is one of the smartest investments they can make. Build your team, lean on their expertise, learn from their expertise, and remember, even professional athletes have coaches. If you're enjoying this FISBO series, check out my book, The Happy Homeowners Handbook for Selling Your Home by Owner. This book walks you through the entire home selling process from preparing your home, pricing, marketing, negotiating, the home inspection, closing costs, moving preparation, and what is needed when you move into your next home. For more details, go to my website, happyhomewownershub.com, or see the show notes for details. And don't forget to join the Happy Homeowners Hub newsletter. Simply visit my website, happyhomewownershub.com, go to the contact us page, and enter the word newsletter in the message box. Here is the podcast disclaimer. This podcast is intended for educational and informational purposes only. It should not be considered legal, financial, real estate, insurance, tax, or professional advice. Every real estate transaction is different. Please consult a qualified professional regarding your specific situation before making decisions that could impact your finances, legal rights, or your property. Thank you for listening to the Happy Homeowners Hub Podcast. If you found this episode helpful, share it with someone who's thinking about selling their home by honor, and remember, the more you know, the more confident you will feel, and that's how you become a happy homeowner with no regrets. My goal is to make your homeownership journey smoother, smarter, and way less stressful. I've got some great stories, tips, and occasional guest experts coming up in future episodes, so stay tuned. And remember, your home is your biggest investment. Be smart from the start. Thanks for listening. This is your host, Fred Turner, and I'll see you at the next episode. Have a blessed day. Goodbye.