With all the real estate information available to homeowners, its natural that some would decide to ‘go it alone' when selling their home. The primary advantage of selling without an agent is not having to pay the agent's commission.
In addition to any potential savings, a homeowner turned FSBO should consider the following in order to increase the chance of a successful sale. First and foremost, its not easy, and you should be prepared to get a little dirty and put in some long hours.
Before doing anything, the house needs to be in shape for showing. That means, making sure its clean and clear of clutter, isn't sporting any unpleasant odors, well lit, and freshly painted.
When the home is presentable, get the price right! visit local open houses to see what other similar homes are asking. Be sure you stick to the neighborhood, because often times, there can be significant price differences in neighboring market places. Sometimes even a few blocks away.
If your home is unique and difficult to compare to others. Hire an independent appraiser to set your starting price. Once you have your price set; its time to look at how much of a discount you're going to offer. The commission amount you might be saving is a good start. Buyers who make offers on "FSBO's" know that your saving some money and expect to receive the same if not more savings. Many buyers who go this rout are real estate savvy and will have the mind set that they know more than you, which they will take advantage of and try to get an even better deal.
Okay so know your pricing is all set and you've decided on your concessions. Its time to figure out who's going to do what. You need to put into place a loan officer, a title rep, an escrow company, and a lawyer or agent, to help with paperwork. Then find your Termite company & Natural hazards company. Make sure you have all documents ready to go when you open a transaction.
When marketing your property, you have many options. There are hundreds of websites that you can post your listing to. Any of them should do fine for market exposure. When placing your newspaper ads, make sure a free online posting is included. Many newspapers syndicate their online real estate ads with other companies and this increases your exposure.
The real estate sign hasn't lost its value either. Get that sign out front and tell your neighbors that your selling. (they may know someone who will buy it) Directional signs and open house signs will also drive traffic to your home.
When scheduling appointments to show the house... Use some common sense, security measures. Don't show it alone, don't leave strangers unattended in your home, and don't leave valuables out.
These are things that are simple to do, but will greatly increase your chances of a successful sale if done right. For more information or a private, NO OBLIGATION, consultation, please feel free to contact me or visit www.teamresults21.com.
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