Many people consider selling their homes by themselves in order to try and save from having to pay high Realtor fees. The truth of the matter is that selling your home on your own can be more troublesome than one initially thinks. However, there are many things that you can do to help make selling your home on your own a pleasant and smooth transaction.
There are many companies that help you sell your home yourself without a realtor. Usually for a small fee they can help assist to sell your home and help with the documents and transaction procedure. This can save you a lot of money compared to using a realtor to sell your home.
Another quick tip is to venture out to some Open Houses of other homes. Take notes of what is appealing about how one home shows as opposed to other homes. Take notice of what the agents have listed as updates and compare it to your own home. Don't be afraid to ask questions.
You may want to consider hiring a stager. A stager is someone who can help you make sure your home decor and layout is appealing to buyers. Hiring a stager may be much less expensive than paying realtor fees. If you have a friend or family member who is good with design, consider asking that person as well. And remember that less is more. Of course you don't want to show an empty house, but the idea is for the buyers to begin to picture their own things in the space.
Your local mortgage broker will often have access to a number of resources that could assist you in your FSBO effort. At a minimum, he would be happy to pre-qualify any potential homebuyers. This provides you with the knowledge that this buyer has already been approved for the financing necessary to purchase your home. Your local mortgage broker may also have access to a full-scale FSBO advertising program, designed with sellers like you in mind.
The very first thing you need to do when selling you home yourself is determine an accurate value and selling price. The easiest way to do this is to hire a property appraiser to determine the value of you home. Appraisals generally run between $300-$500 for a single family residence. Another way to determine the value of your home when you are selling it yourself is to ask a realtor for a Comparative Market Analysis or CMA. This will also give you an accurate home value but unless you intend to use the realtor in the future you are basically taking advantage of them.
Curb appeal, Curb appeal, Curb appeal!! This is one item that you can help to improve on your home that can be the difference between successfully selling your home and having it sit on the market for a long time. During this period of time and trying to sell real estate there are many, many homes for sale in just about every neighborhood. Therefore, the buyers have many choices presented to them. You need to try to make sure your home stands out ahead of the others and the way to do it is with curb appeal. You can either hire a landscaper to come in and edge your beds, trim your bushes and shrubs, throw a fresh layer of mulch over all of your beds, plant some inexpensive but nice looking flowers, plants and shrubs, fertilize your lawn (weed and feed), water your lawn, keep your grass cut at a nice level, and take care of any "eyesores" you may have in your lawn anywhere or you can simply do this all yourself if money is tight or you lack the time or knowledge of how to do all of this. Also, you will want to clean up everything outside and put it into your shed, throw some stuff away or place items into your garage to give your yard a nice overall appearance without any clutter. Fix up any cosmetic things that need to be fixed on the exterior of your home, such as siding, trim-work, flashing, etc... If the home needs to be re-painted or power-washed make sure you do this. If you don't have money to pay a professional painter to come out and do it then you should consider having a house painting party. Invite 10-15 friends and family over to help you paint the exterior of your home and supply some food and beverages for them in return. This is a much cheaper way to get the job done and you can have some fun with it too.
Keep a package of ready-made cookie dough on hand. Pop a few cookies in the oven just when a hot prospect is expected to arrive to view the home. The smell of freshly baked cookies will conjure up a lot of great memories! Try to trigger emotions that will work toward the sale of your house.
"For Sale By Owner" has become an extremely popular way to sell one's home. There are sites such as forsalebyowner.com that allow users to purchase all the legal documents required to make a smooth real estate transaction.
Owner's can also solicit a Real Estate Agent and pay them a flat fee for listing their home on the MLS (multiple listing service). This is a great way for owners to increase their home's exposure.
Remember, there are 2 sides to a commission...the buy side (earned from the buyer's agent), and the sell side, (given to the listing agent). It may be a good idea to still offer commission to the buy side agent. This way, agents are more motivated to bring buyers to your house.