Important tips to be a successful For Sale by Owner in Monroe La.
Know your homes value. Order an independent appraisal. When you sell with a Realtor part of their service is a Market Analysis to ensure your home is priced right. Without a Realtor spend the money for an appraisal. The $400-$500 will easily be worth it to ensure you have the right price on your home. If you have an old appraisal from a refinance, getting a new independent appraisal will give you a realistic amount of what your home will sell for. Keep in mind the appraisor will compare your home with homes that have sold with a Realtor. Homes with Realtors have more exposure to buyers, which may lead to you having to sell your home less than houses listed with a Realtor.
Hire a Home Stager. According to stagedhomes.com, 95.6 % of ASP-staged homes sell on average in 37 days vs. 212 days for non-staged homes. RESA, the Real Estate Staging Association, surveyed 39 homes that were listed un-staged and spent an average of 233 days on market. After they were staged, they sold in an average of 53 days. That's 78% less time on the market! Of course, there’s no guarantee that a staged home will sell faster or for more money, since current market conditions, price and your marketing all determine the final outcome. Realtors know ensuring your home presents as well as possible will enhance curb appeal and increase the odds that buyers will make offers on it. This is traditionally a service a Realtor will provide but as a For Sale by Owner it is very important to hire a professional to ensure you get the most bang for your buck. A home stager in our area will run between $50-$150/hour.
Find a Lender. Realtors will ensure prospective buyers have spoken with a lender before showing them your home. In the case of a For Sale by Owner you are the Realtor. Find a lender that you are able to refer all of your interested prospects to speak with before showing them your home. This will ensure that if they do like your home you know they can qualify for a loan. It also ensures you aren't dealing with looky-loo's or criminals. Be extremely careful about who you let in your home.
Market the Property. Place your property on as many websites as possible. As a Keller Williams agent we are able to expose your home to over 350 websites as well as buyers working with other agents in our own company and other companies. Such a large amount of buyers go to the web before anywhere else you want to ensure your property is exposed to everyone. Each site may or may not have a charge. Unless you are on a very busy road, signs alone may not generate you the traffic needed to get a buyer. Many For Sale by Owner's market their home with the Newspaper. Sunday ad's run between $85+ depending on the size and where you place the ad. As a For Sale by Owner this may be your best bet for local buyers. The newspaper publication doesn't reach as many buyers as it used to. The majority of people who still recieve the paper is 60+ years of age and for the most part they aren't looking to purchase a home.
Be Safe. Think back to the last time you rented an apartment, before they showed you the apartment they probably got a copy of your drivers licensed and left it in the main office to ensure they were safe. Follow this same rule of thumb-ensure you and your family are safe-do some background on the prospective buyer who wants to enter your home.
Contact a Local Title Company and request a Purchase & Sale Agreement. The local title company will do all of the paperwork for you. They will charge you by the hour. Be aware that unlike Realtors who charge you nothing if the house doesn't sell, you will owe these fees whether or not the house sells.
To scan homes currently on the market for sale please feel free to visit: www.localhomes247.com.
To find out information about your local market in Monroe La and the surrounding areas check out: http://www.localrealestate247.com/mimarket/zip/71203/
Hopefully these tips will ensure you have great luck selling your home For Sale by Owner in Monroe La.
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