Did you know that today only a third of all home buyers use a real estate agent? Did you know that a seller can use MLS listings on their own, without an agent? In today’s real estate market, these are absolute facts! It is now much easier and more profitable to sell your home as a “For Sale by Owner” (FSBO) home than ever before. To make sure you make as much money as you can from the sale of your home, do it yourself! Forget the agents! Only you will have your best interests at heart when it comes time to sell your home anyway. However, there are some things you should know to do before selling your own home. We’ll look at some helpful tips in this article.
First, check your property records. Use the files and staff from your county courthouse. Make sure there are no links or legal claims of someone else to take over your home. If you want to stay away from court, a real estate attorney can help you in this area as well. However, be sure to do this in advance! Now is the time to find out this information! You don’t want to be unpleasantly surprised when you think you’re ready to close a deal at home.
Next, make sure you personally know the strengths and weaknesses of your property and home. This is another area where you don’t want to be surprised! Have a professional inspector conduct an inspection from the beginning. They will let you know of any issues you have that need attention and are likely to affect your sale. You will be better off fixing these problems right away yourself (using only reputable professional services). However; If you choose not to fix them, you should adjust your selling price accordingly. Otherwise, no one will buy the house.
That brings us to the next tip for FSBOs: Have an objective expert assess the price of your home. Hire an appraiser for a few hundred dollars. They will be best suited to thoroughly assess your home and compare that assessment to similar homes for sale in your city. This shouldn’t be a guessing game on your part! If you price your home too high, no one will buy it. However; if you estimate it too low, you are deluding yourself. Unless you’re an expert in this field, do yourself (and your family) a favor: Get a professional home appraisal.
One last point in being an FSBO is to make sure you plan a sales strategy for yourself. Here you need to do some research on your potential home buyers. Discover the things that stand out to them when they are looking for a home. Today, only 36% of buyers will find out about homes from a real estate agent. That leaves a large percentage of people searching on their own. Don’t forget: THEY want the savings that an FSBO offers too. When you discover what the public wants in your home, you can accentuate the features of your home that match their criteria.