For Sale By Owner: A Guide

By
Mortgage and Lending with Olympus Labs

The quote 'If you want something done well, do it yourself' was born of inspiration and the resounding strength in conviction to rely on yourself to achieve victory no matter what the task. These words belong to Napoleon Bonaparte, you could say he achieved success and sits comfortably at the cool kids' table. Doing things yourself rather than relying on others for tasks still holds true today, including selling your home.

Selling your home requires the same dedication and determination that Bonaparte committed to each endeavor. When you place that 'for sale by owner' sign in the yard, you control your destiny. To help you navigate through the world of real estate, here are a few helpful tips.

You Are Your Best Advocate For Your Home

Today's technical advances give you far greater reach and marketing prowess than at any other time in history. The great thing about selling your home yourself is that you have lived in your home and are intimately familiar with the pros and cons and can convey sincerity to prospective buyers. Homes are where the heart is and no one can speak better to that than you.

Create A Virtual Tour

Capture your home in flattering detail with a walk-thru and still photographs for social media. By saving the realtor fees, it is strongly recommended that you invest in a professional videographer. Most people shop for their new homes online and this will be your home's first impression and opportunity to wow prospective buyers.

Set The Price

After you have set the tone with a warm, welcoming atmosphere in your video, you will want to make sure that you set the right price. There are several free tools online to help you price your home correctly. A note to keep in mind is that the home may have greater value in your heart than actual market value, so you need to separate yourself from the emotions a bit.

Use Online Advertising Tools

You have a solid video, a spot on price, now is the time to get your home in the spotlight. Most realtor sites allow you to list your property free for 30 days all the way up to 6 months. Take advantage of these tools. Social media is like word of mouth on steroids and pictures of your home can be passed and shared along its endless pipeline. Harness this power.

Published Advertising

Don't discount the value of published advertising that is budget-friendly. Many of these publications have online versions with a high amount of traffic. The more you can showcase your home, the more likely you are to receive the offers you are looking for.

Demonstrate Negotiation Prowess

When it comes to the sale, think like a salesman. You know the price that will allow you to sleep comfortably at night, so keep that in the forefront of your mind. Remember that you must separate your emotions from the sale, that is one of the biggest hurdles in selling a home that you have put considerable time and investment in.

Familiarize Yourself With the Laws

There are things that you can, and cannot do when selling a home. It is advisable that you commit to researching what those things are to keep yourself in safe harbor.

The Finer Points

Selling your home without a professional Realtor comes with its sets of pros and cons. Realtors have access to tools that a layperson would not have and you will have to commit to a demanding schedule of house showings and navigate through social situations. If you go in prepared, selling your home can be rewarding and yield profit, you are accountable for the success.

 

 

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