A For Sale By Owner (also known as FSBO), without representation, is not terribly difficult if the market is moving fast and inventory is snapped up as soon as it becomes available for sale. However, for most FSBOs, finding buyers is typically the main challenge.
The National Association of Realtors reports that the majority of for sale by owners end up listing with a Realtor. Part of the reason is that most people work and have other obligations which means, unlike a full-time Realtor, they are only available to show there home on certain days at certain times. Another typical problem is marketing, but this blog isn't meant to dive in to all that.
Here are tips on how to do a sale your home yourself:
Pricing Your Home For Sale
•Pricing a home to sell is part intuition, part research and part market timing. If you are unsure or don't feel like doing all the homework, you can pay an appraiser to come out and give you an estimate on where your property stands.
•You do not want to fall victim to a seller's biggest mistake and not price your home correctly, because the first two weeks on the market are crucial which is when buyers' interest levels are the highest. So make sure you do your homework. The 3 most reliable sites I think are Trulia, Zillow, and Realtor.com
Preparing Your Home to Sell
No longer can you sell your home with unmade beds, dishes in the sink and toys scattered throughout the living room. Today's homes must be spotless and resemble a model home, with the appeal of a 5 star hotel..
•Before you begin to prepare your house for sale, examine the home from a stranger's viewpoint. It's even a good idea to ask a friend to help.
•Consider spending money on improvements, fixing things that don't work and making repairs before selling to improve your profit. But make sure not to overdue it, because not all repairs will net you a profit.
•Do not underestimate the power of home staging. It can mean the difference between getting multiple offers or one offer.
•If you have a pet in your home, think about relocating or sectioning off your pet. See if your pet can stay with a friend or family member while you’re trying to sell your home.
Marketing Your Home as a For Sale by Owner
Without representation of a Realtor you miss out on the advertising they would be doing for your home. So use the extra money you have to put towards advertising. Figure out your target audience and get the message to them.
•Make sure you understand the basics to marketing your home. From how to do photographs, print advertising, direct mail and e-flyers, to making a reasonable marketing budget for yourself.
•All marketing should be geared toward making your phone ring and increasing traffic to your home.
•Avoid marketing mistakes by being flexible with showings, offering incentives to buyers and obtaining buyer feedback.
•Seasonal sales require unique approaches. The way you would sell in spring is very different than selling in winter.
•Make sure you put a lockbox on your premises for easy access by agents when you are not home.
•Hold an open house, and remember that in some areas, Saturdays are just as popular as Sundays.
•Hire a good photographer to shoot a virtual tour with at least two to four spins of your house, and advertise the virtual tour link in your marketing materials.
These are just a few tips on how to sell your home yourself. But remember selling your home your self can be a great or it can be your worst nightmare. Weigh your options before deciding to sell without representation of a Realtor. Can you dedicate your time and energy to be available? Do you have at least $1,000 to put towards your marketing? & Did you take out your personal emotions?
Go to http://www.shanellrobinson.lnf.com/ to view my office listings, search for homes and MUCH more!
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