Making a sale by owner (FSBO) is not terribly difficult if the market moves fast and the inventory is quickly picked up. However, for most FSBO, finding a buyer is typically a challenge.
The National Promoters Association reports that most homeowners who sell end up enlisting with a promoter. This is partly because most buyers are being represented by an agent. Other reasons are because the sellers who sell by themselves lack the experience to quote a home for sale and have little marketing knowledge.
Here are some tips on how to make a sale by owner:
How much is my house worth?
Quote a home to sell is partly intuition, partly research and partly accurate to enter the market.
You cannot always rely on an agent’s opinion on the value of a home because sometimes agents take overvalued listings just to keep your business out of the competition.
However, you do not want to be the victim of the worst mistake that a seller can make and not quote your house correctly, because the first two weeks in the market are crucial because in that period is where the level of interest of buyers is higher.
Preparing your house for sale
There are a lot of days to sell a house with unmade beds, dishes in the sink and toys scattered everywhere. Today the houses have to be impeccable and look like a model house.
Before you prepare your home to sell, examine the home from the point of view of a stranger. Ask for help from a friend who may be less fond of the property. Consider spending money on upgrades, fixing things that do not work and making repairs before you sell to improve your profit.
Do not underestimate the power of decorating. It can make the difference between selling the house now for more money and not selling it at all.
The pets at home have their own set of challenges.
Marketing Your Home
With all the money you’ll be saving on hiring an agent, you spend a fair amount on advertising. Find out who your audience is and send the message to them.
Choose several of these tips to market your home, from how to take photographs, print notices, and send emails and flyers online to organize tours for your property.
All marketing should be done to make your phone ring and increase traffic to your home.
Avoid marketing mistakes by being flexible with tours, offering incentives to buyers and getting opinions from buyers. Seasonal sales require a unique approach. The way you will sell in the spring is very different from the way you will sell in the fall.
If you decide to offer a commission to sales agents, you may need to put a lockbox on your premises for easy access for agents when you are not at home.