Advice for FSBO’S
If you do not want to hire a real estate agent to sell your home for you, it is possible to sell it yourself. According to the 2013 Association of Realtors Profile of Home Buyers and Sellers, about 9 percent of sales were listed as For Sale By Owner (FSBO). It takes time and commitment to do it properly, ensuring you get the best value for your home. The following tips can help you to successfully sell your home without having to share the profits with an agent.
Prepare Yourself for the Difficult Work
Real estate agents do more than just advertise and show your property, and when you decide to sell the place yourself, you will be the one that has to handle all the various aspects. According to the survey, owner sellers found that understanding and performing the paperwork was the most difficult aspect of the job, as was figuring out the right price. In addition to the paperwork and pricing, you also have to be in charge of marketing and showing your property.
You may discover people coming to your home unexpectedly at odd hours to view the home, although you have the right to say no to or reschedule them. You will have to put in the time and effort to successfully sell your home, so before you start the process be sure you are fully prepared for the amount of you have in store.
Detach Yourself from the Sale
One of the reasons that owners have difficulty selling their home is because they are too attached to the property, which influences many of their decisions. Your home most likely is not as valuable as you believe it to be. Additionally, when you show the property to others, they may not appreciate certain aspects as much as you. Some prospective buyers may even be looking to tear down or fully remodel the house. Therefore, you need to learn to detach yourself emotionally in order to successfully sell the property.
Do Your Research
Before you decide to sell your home yourself, be sure to do the research so that you can accurately price your home. You should look into the current market values of comparable homes to have an idea of what prices are working for your neighborhood. When comparing your property, be sure to match the square footage, condition, and region. Do not just look at what is currently on the market; be sure to research into sales over the past few years. The more time you spend at the beginning for getting a strong feel for the market, the better the whole process will be for you.
Many people are tempted to sell their property themselves because of the savings in commission costs; however, you should remember that you pay for these savings in the time you have to put into the sale.
If you are willing to put in the effort, you can be successful in your endeavor. Even if you decide to sell your home yourself, you can often still find help for the areas in which you find yourself in need, including with the paperwork.