Maybe you are wondering how to sell your home by owner because you have decided to do it on your own. Rather than do it via a real estate agent, you plan on selling it by yourself. If done correctly, you could save as much as between five and six percent of the net price in broker fees, a considerable amount of money irrespective of what the home eventually costs. This article offers steps for successfully pursuing the FSBO route.
1. Understand what it is all about
Several sellers that opt for the FSBO route come to later regret doing so. Getting a home sold without an agent demands much work. After all, you will have to spend time doing all that an agent typically does including fielding phone calls, vetting potential buyers, and fixing appointments. This can be a lot of work and if you happen to be employed on a full-time basis, it could be beyond your capabilities to do.
2. Determine the home’s value
The scariest part of FSBO is homeowners not getting the value of their home right. This means you have to get the same real estate comps (comparables) that are used by agents, something you can obtain via an MLS (multiple listing service). Also, you could obtain the publicly available information without paying anything via the courthouse in your county. This is a very valuable component of the ‘how to sell my house fast’ process.
3. List the property online
The internet has become a truly powerful information-sharing tool. It could also be a primary means of listing your property. There are both paid and free listings, the later including Craigslist and all of its local websites. Also, you might want to consider forsalebyowner.com and zillow.com, paying a small fee to get your property listed with either of them. You might also want to consider sharing your information on Twitter and Facebook.
4. List on an MLS service
You could pay an MLS to have your property listed on the internet, the same location in which individuals list their properties with professional realtors. There’s a fee to be paid for the service, but it exposes your home to a lot more potential buyers. Understand that you might have to write out your own listing and also include quality images. Plan on having between twelve and fifteen images of both the exterior and interior of the home (the bedrooms, back and front lawns, kitchen, and bathrooms, for example), posted on the MLS. Explain to all real estate agents that show interest that you won’t be paying any fees for referrals.
In concluding, another crucial tip that helps in answering the ‘how to sell your home by owner’ question is to price it five percent under its appraised market value, at least. If it happens to be a property that is already distressed, for instance, it is already facing possible foreclosure you must never make such information known. This is because professional investors might then step in and attempt, to lowball you. They are always looking for opportunities that will enable them to do that. So, watch out.
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