Tips for Selling Your Home By Owner

You can be successful at selling your home without a real estate agent if you do your research and put in a little work, you’ll be selling your home in no time, without pricey real estate agent fees.

Prepare your Home For Sale

Any potential buyer will be hiring a home inspector to find problems with the house before closing. Prevent buyers from unexpected delays, backing out the sale, or negotiating for a lower price by hiring your own inspector at the beginning of the process. Knowing what to expect going in will give you a chance to fix problems now, offer full disclosure to buyers, and strengthen your negotiating position.

Pricing Research

Pricing your home too high will make it difficult to sell, while pricing too low means less money in your pocket. Compare your home to others already on the market and with recent sales in your neighborhood. Take into account special features your home has. You may want to consider getting your home professionally appraised ahead of time to remove uncertainty and give you a stronger negotiating position.

Don’t Leave A Mess

Keep your home clean and organized when preparing to show it to buyers. If you’ve accumulated a lot of clutter over the years, now’s the time to clear it out. Having less furniture and clutter will make your home look larger, which is a big plus to potential buyers.

Market Your Home On The Internet

The National Association of Realtors reports that 93% of buyers begin the house hunting process on the internet. There are many different real estate listing sites available online. Doing a simple search of “for sale by owner” is a good way to find the websites online where you can list the details of your home. Popular online classified sites such as Craigslist are updated minute by minute with new listings. Getting on all these sites will get your house ‘found’ by buyers looking on the internet. Take a good amount of high quality photos that show off your home’s best features and list as many details as possible. Buyers are much more likely to consider a home with precise descriptions and plentiful pictures.

Hire a Real Estate Attorney

Real estate contract law is complex and should be handled by a professional to ensure everything is legal and binding. You want to make sure all the paperwork is in order and that your closing goes smoothly.

Don’t Get Impatient or Give Up

I can hear you now. “But I want to sell my house fast.” The fact is, selling a home by owner can take a little longer, but the good news is, you’ll be able to save some money. You may however, need to lower your asking price, make changes to your marketing strategy or make some repairs. If your home has significant damage or needs to be sold quickly, try a we buy houses company. This may mean that you don’t get as much as you had hoped for your home, but will get your house sold faster.

Tips for Writing the Best Real Estate for Sale by Owner Ad

The property ad is your chance to create a great first impression and to make the potential buyer contact you to find out more. When planning a private property sale, it is vitally important to spend some time thinking about the wording of your real estate ad.

Writing a real estate for sale by owner ad can be difficult, despite the fact that most publications have a strict word limit. There are several important things you need to say and a few tricks that will help you make the real estate ad text more exciting.

A Great, Catchy Title

Most people interested in real estate for sale take a look at the title of the listing and the photographs that accompany it. These are the two factors that will often determine whether a person will continue reading.

Work on a catchy and descriptive title. It should mention the location of the real estate for sale by owner, the size, the price and the most important features of the house. Squeezing that much information into a title may appear to be a great challenge. Do a bit of brainstorming and write down your ideas. You can refine the most promising titles after you put all of your possibilities on paper.

Make It Very Specific

The lack of specifics and details will instantly kill the interest of potential property buyers. Do your best to include enough descriptive information in your listing.

Refrain from saying that the house has a modern and beautifully designed bathroom. Say what makes the bathroom modern – is there a water massage system in the bathtub? Did you install faucets that decrease the consumption of water? Such details make all the difference in the world.

Avoid the Real Estate Ad Cliché

Go through several property ads. You will see a number of phrases repeated in the majority of ad listings. These real estate ad clichés are very dangerous. They make your listing boring and very similar to everything else that the market has to offer.

Clichés are safe and easy but they will never give your real estate for sale by owner the attention that it deserves.

Some of the most common ad clichés include hidden gem, conveniently located, original interior design, vibrant, spectacular, amazing view, modern, easy access, majestic, stunning, just renovated and special offer.

Write a Little Bit about the Neighborhood

As a house owner and a private property seller you have one great advantage over the realtor or the agent – you know the property and the neighborhood by heart. Use that knowledge to create the perfect real estate ad.

Adding a sentence or two about the neighborhood will help paint a complete picture. Get the reader interested. What makes the neighborhood special and worth relocating to? Mention these interesting details towards the end of the listing.

Encourage Potential Buyers to Ask More Questions

Finally, encourage the potential buyers to contact you and to get their questions answered.

Provide a few communication options. Instant messaging, emailing and calling are the most popular possibilities. Each potential buyer has a preferred method of communication, so you should have a few options available.

The perfect private property sale listing is difficult to create. See what the competition is doing but do your best to keep your text original and fresh. Provide specifics and be as descriptive, as possible. Spending some time on writing a house listing that stands out can help you sell your house faster. The results are worth the effort.

Top 10 FSBO Tips to Selling Your Home by Owner

By using some simple FSBO (For Sale by Owner) tips and techniques, the average homeowner can sell his or her own home without the assistance of a real estate agent. Just as many others have done in the past. You can sell your own home and save thousands, but it takes work and commitment.

Below you will read some simple strategies that can stack the odds in your favor, greatly increasing your chances for success when selling on your own.

FSBO Tip 1. Understanding the real estate market.

Getting an idea of your local market conditions makes good sense. Just like any other product getting a feel of what’s hot and what’s not can help you make decisions that affect the sale of your home. Consider your neighborhood and the features that distinguish it from others. If you’re comfortable, contact a real estate agent to discuss what the current market environment is like.

FSBO Tip 2. Timing is everything.

Timing the decision to sell and gauging the current market conditions could be two of the most critical decisions you make. If you need to sell your home quickly, the less flexibility, you’ll be able to have. Conversely, if you’re not in a big hurry you can sit back and wait for the perfect buyer. Just remember the real estate market is a cyclical environment. If it’s a slow period now and you’re in a position to wait it out then it might be a good idea to wait for the next upswing.

FSBO Tip 3. Assemble a team of professionals to help you.

While it’s nice to think that you can handle things on your own, selling a home takes specialized knowledge. It’s more than just writing up a sales agreement. Depending on what part of the country you’re in you’ll either need to find a real estate attorney or a title / escrow company to help with the legal details. As a rule of thumb, if you’re east of the Mississippi it’s usually a real estate attorney. If you’re west of the Mississippi, it’s a title company. Either way they’ll be an indispensable part of your home selling process. Another important partner to consider is a reputable mortgage banker/lender. They can assist in helping you prequalify buyer prospects. We’ll talk more about qualifying prospects as you read on.

FSBO Tip 4.How to determine the fair market price of your home.

This always seems to be a real tricky one. For many home sellers this typically reveals itself as a major point of contention. When trying to decide on a price guessing or basing your asking price on hearsay or nontraditional methods immediately reduces your negotiating advantage. Basing your price on what the house down the street sold for or what media outlets perceives as increased market value is not the way to get a legitimate price either. There are only two legitimate and well-recognized ways of determining a fair market value. One way is to contact a real estate agent or broker to provide you with a CMA otherwise known as a comparative market analysis. The best and most accurate way of determining price comes from a full-blown appraisal done by a professional real estate appraiser.

FSBO Tip 5. You’re selling a house not a home.

While it’s important to become emotionally detached, you don’t have to become a robot. After all this is your home, be objective but don’t be cold. Keep in mind that people are going to perceive your home differently than you do. Either way remain positive and ultimately the right person will walk through the door and buy your home.

FSBO Tip 6. Preparing your home for sale.

Today’s real estate market rewards those homeowners that place a high-value on neatnessas well as cleanliness. It not only adds value but alsogenerally promotes a quicker and more profitable sale. Once again the depersonalizing of your home helps your prospect with such an emotional decision. Decluttering the inside of a home is also key to your preparation. If necessary, rent out a small storage space and store some household items there. Just as a side note, having a garage sale is also a great way of getting rid of items that clutter up the house. Not only do you get rid of the items but also you make a little money in the process.

FSBO Tip 7. Start spreading the news.

It should be understood if you’re going to sell your home and you’re going to do it yourself, the easiest way to get the word out is to put a sign in your yard. This will immediately get the attention of anybody that happens to ride by. Naturally, this is the essence of selling on your own. Coming up with a highlight sheet to outline the key features of your home is a must. With the readily available use of word processing programs putting together a simple highlight sheet is easy.

FSBO Tip 8. Knowing a few, negotiating skills will get you a long way.

It’s not necessary to become the next great diplomat. You will want to keep in mind that it’s necessary to keep your emotions and personal feelings regarding the negotiating price of your property in check. When discussing the selling price it’s important that your calculations and numbers are correct. This allows you to have greater flexibility and leverage and you can negotiate from a position of strength.

FSBO Tip 9. Qualifying buyers and stopping the lookie loos.

So what’s a lookie loo? A lookie loo is a person that comes to your house and looks in everything. They,look in cabinets,closets and drawers check everything out but never make you a serious offer. You need qualified buyers looking at your home or it’s going to get very discouraging. One of the best ways of getting qualified prospects is to have them referred by your mortgage broker/lender. You can also take the direct approach. If you’re arranging a showing over the phone, go ahead and ask them if they are pre-qualified. Don’t be too shy when it comes to your prospects. If you’re holding an open house and someone expresses interest in your home go-ahead and ask. Most of the time if they’re pre- qualified they love to tell you. So don’t worry about asking, it’s the right thing to do.

FSBO Tip 10. If all else fails go to where the realtors hang out.

If after a while, you’re not getting the results that you were hoping for you can always go to the MLS option. This doesn’t mean that you have to list with a real estate agent or broker. As a private party, you can list your home with your local multiple listing service. Usually this cost a fee but by doing this you automatically expose your house to thousands of potential prospects all over the country. The upside is that you should be able to sell your home in short order. The obvious downside will be that you will have to pay co-op to an agent. Only in unique situations would the cost of co-opting be virtually impossible, due to low equity or some other extenuating circumstance.

These FSBO tips should give you a solid foundation to successfully selling your own home. There’s many specific ideas and recommendations that are beyond the scope of this article when it comes to pricing, preparing and staging your home, and all of the items previously outlined. You should definitely research and prepare yourself for the selling of your own home process. In the long run,it will make things easier and could either save you or even make you thousands of dollars.

How Real Estate Agents Can List For Sale by Owner Properties (FSBOs)

Listing a property that is currently for sale by the owner can be a tough task. Most owners will hold out for awhile before they will consider listing their house with a real estate agent. The plus side here is that you know they are motivated to sell. So if they do choose to list their home with a real estate agent, how can you make sure that you are they real estate agent they choose?

You will first need some addresses of FSBO’s to mail to. It is possible to buy lists, but the best leads seem to come from the houses you end up driving by and marking down the address. Just get all the members of your team to keep a look out for FSBO signs, and mark the address down for you.

I have always been a fan of hands off marketing campaigns that don’t take up too much time once they are set up. This campaign has been set up that way. First, you will need to create a series of six postcards. The first to will have tips for selling your house. The second two will talk about some sort of advance marketing that you do. It should sound impressive, like something they can’t do on their own. The third two should talk about your listing guarantees. Other than paying a commission, the second most common objection is getting locked in to a long contract. So why not offer an easy cancel guarantee? You may want to also offer a communication guarantee to assure them that they will not be left in the dark.

Send the first three postcards every third day. Send the last three postcards spaced a week apart.

If you are getting enough leads this way, and business is booming, leave the campaign where it’s at. If you could still use more leads, then after postcard number four goes out, make a personal visit to the house to see if they could use any help or if they have any questions. You may want to ask if you can stop back in a week or two to see how things are going.

Most agents don’t market this consistently to FSBO’s, and if your postcards look professional and memorable, you should be the first real estate agent that comes to their mind when its time to list.