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’s now much easier and more profitable to sell your home as a “For Sale By Owner” (FSBO) home than ever before. To ensure you make as much money as you can from the sale of your home, do it yourself! Forget 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 need to know how to do before you sell your own home. We will examine some useful tips in this article.
First, check your property records. Use your county court records and staff. Make sure there are no liens or legal claims from someone else to take possession of your home. If you want to stay out of court, a real estate attorney can also help you in this area. However, make sure you do this in advance. Now is the time to find out this information! You don’t want to be in for a nasty surprise when you think you’re ready to close a deal on your house.
Then make sure you personally know the weaknesses and strengths of your property and your home. This is another area where you don’t want to be caught off guard! Have a professional inspector perform an inspection early on. They will let you know of any issues you have that need attention that may affect your sale. You’re better off fixing these problems right away (using only reputable professional services). Nevertheless; if you choose not to correct them, you must 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 price your home. Hire an appraiser for a few hundred dollars. They will be best suited to thoroughly appraise your home and compare that appraisal to similar homes for sale in your city. This shouldn’t be a guessing game on your part! If the price of your house is too high, no one will buy it. Nevertheless; if you estimate it too low, you will be fooling yourself. Unless you’re an expert in this field, do yourself (and your family) a favor: get a professional home appraisal!
One last point for being a FSBO is to make sure you plan a sales strategy for yourself. Some research on your prospective homebuyers is in order here. Find out what things catch their eye when looking for a home. Today, only 36% of buyers will find out about homes through a real estate agent. That leaves a large percentage of people searching on their own. Don’t forget: THEY want the savings an FSBO offers, too. When you discover what the public wants in their home, you can accentuate the features of your home that match their criteria.