When it comes to selling your home, you always want to get the best deal possible. Over the years, homeowners have increasingly valued convenience and flexibility throughout the selling process. This has led to some choosing to market and list their own houses, commonly referred to as for sale by owner (FSBO). With this option, homeowners can save up to 6% of the commission fee that would have been paid to a real estate agent.
With the right amount of knowledge, hard work, and self-drive on how to sell your home as an FSBO seller, you will save a great deal of money and time. Listed below are the things you should do before selling your house by yourself.
1. Prepare Your Home for the Sale
Getting your home ready for sale is the first thing you should do before listing it. Declutter all items you no longer need and remove any personal belongings. The next step is to clean all indoor and outdoor spaces. This may help you identify those areas that need repairs or retouch. Having a tidy and presentable home will make potential buyers envision themselves living in the house.
Preparing your home for a sale also involves knowing all the selling points for your house. The selling points should be outstanding. Before listing, do your research and learn what most home buyers are looking for. If your house has any of that, be sure to clearly state when advertising.
2. Set a Realistic Price
Once you are convinced that your house is ready for the market, next is to estimate its value. You should also research any other homes that have recently been sold to understand what buyers want and are willing to pay. In addition, check on the rates at which houses in your area are selling. If the rates are low, you may have to price your home at a low price to attract buyers.
The point here is to have a competitive price based on the current market and not your emotional attachment to the house. Online calculators may also guide you when estimating the worth of your home.
Many homebuyers start their journey to owning a home online. To reach more people, you may consider listing your home on MLS (Multiple Listing Service). This is one of the cost-effective ways to give your home the exposure it deserves. You can also use other sites such as FSBO sites, local classified websites, and real estate sites for advertising your home.
When advertising, always have a detailed description of every room and space within the house. Appealing photos of the interior and outdoor areas will also go a long way in marketing your home.
4. Hold an Open House
Once your house hits the market, you should plan for an open house. Do your research online and even visit a few open houses in your area. Next is to create the best open house plan and schedule it for a morning or evening, preferably on the weekend. Be sure to invite as many potential buyers as you can. Remember to be professional and give full attention to all your guests.
As you list your house and reach out to potential buyers, you also want to explore all the potential options. If you need to sell your house fast and close the deal as soon as possible, you may consider selling directly to a real estate investor or home buying company. With this option, you’ll receive a negotiable cash offer, and you won’t have to incur renovation costs or inspections since the buyer will take the house as-is.
Once you’ve found a buyer, ensure you understand the house selling rules and all the paperwork needed before closing the deal. If you do this right, the process should be open, elaborate, and a win-win for both parties.