Selling your house by yourself is a task so complex that it is common for those who took this for-sale-by-owner (FSBO) challenge to eventually give up and seek the services of a real estate agent.
A successful home sale minus the help of an agent could only happen if you fully understand and are competent enough to carry out the many action steps involved in a real estate deal. Here are some of the things you must do to close a home sale independent of a broker.
Setting the correct price on your home is probably the most difficult step of an FSBO.
Why? This is because you’d be without the services of a professional who is already immersed in the market and knows the home pricing trend in your area.
You have to know not only the values of residences comparable with yours. You must also have a feel of the market conditions in your locality. In seeking these inputs, you have to browse online listings near your home and talk to sellers who may be in your neighborhood.
Take note that there’s the possibility they want to sell house fast, in which case, their pricing strategy would be vastly different from yours. Given this situation, you’re very likely to be facing lower-priced competition on the local market.
Wear the Marketer’s Hat
Pricing your house on the same level as comparables in your community clearly isn’t enough. You have to wear the marketer’s hat and make your residence stand out in the buyers’ eyes.
It would be to your advantage to hire a home inspector so you can identify and fix issues that could prompt low-ball offers on your home. This would be critical if your neighborhood has plenty of foreclosure cases.
To sell house fast would be the typical tack for their owners. With this scenario, you would need not only to price your property well. You also have to establish market leverage in anticipation of prospective buyers’ scrutiny of your home.
Bear in mind too that in this due diligence, buyers would, in all probabilities, have the assistance of a pro real estate broker that you have to deal with. Your house has to be not only well-priced but also well-presented and able to meet factors like these on the market.
Selling your house without the help of a real estate agent also entails yourself publicizing it’s available on the market. The typical industry practice is through the Multiple Listing Service (MLS) available to realtors. You can also tap this medium through its “Flat Fee MLS” accessible online.
For optimal market exposure, use other online media as well, such as Facebook or Craigslist. You can also create a website and YouTube video for your house for sale, distribute flyers, and advertise in newspapers and/or magazines.
Of course, you will need all the advertising and promotions materials for these. This means having photographs and video footages taken and edited, work likewise necessary in writing and editing ad copies. Added attention would be needed in printing brochures as well as preparing yard signs.
Keep Your Options Open
After all these preparations, facilitating an open house or home showing will demand much of your attention. This exercise plus negotiating directly with buyers would take much of your time, in addition to your expenses and time spent making your house market-ready without the help of a real estate agent.
An FSBO, for sure, is not a walk in the park. It could be a toughie even for those already well-grounded on sales and marketing, more so for newbies in these disciplines. Hence, keep your options open.
At House Sold Easy, we have developed trustworthy market solutions by which you could quickly facilitate your home sale without a real estate agent. Call us at 636-525-1566 to find out how easy it could be to close a home sale!