Smart "for Sale by Owner" Selling

By: Ken Hamric

If there is one truth about the FSBO market it is that you need to be smart about the sale to make any money from it. In order to gain the right amount of attention for your home you need to try to think like a realtor. How should the home be shown? Showcased? Displayed? These are things that your average home seller does not think about, they leave the specifics up to their agent and just worry about keeping the home clean and presentable.

One of the first things you should consider is having a CMA done on your home by a few different realtors. Of course after having them do this they will want your business but simply let them know you were just interested in finding out your home's value. Or you can do the research yourself although it will take some time to find the information. The CMA is a comparative analysis of similar homes that have sold or been listed on the market in your area. It details what price the homes were listed at and what they sold for. This is designed to give you a good idea of what to list your home for, based on the advantages that your home offers. The price that you list at must be competitive with other homes of similar design and size. Pricing your home too high is one mistake that many FSBO sellers make as there is a definite emotional connection to a home for any owner. Unfortunately a buyer will not have that same connection nor will they be agreeable to paying more money for it. In an FSBO sale, more than any other type of sale you really need to remove yourself emotionally from the process.

Pictures are worth a thousand words so find some high-quality camera equipment and take pictures of your home under the best conditions possible. Sunny days are perfect for this activity as the home looks its best with bright sunshine illuminating all of its assets. Be sure to spend some time cleaning the yard before you begin photographing anything. Also make sure that you use current pictures that detail you home as it currently is. If you make any changes to the home during the sale then make sure you retake the pictures. Be sure to get pictures of every room in the home so that buyers know what to expect when they arrive to view the home.

The idea here is to set your home apart from others on the local market, including those being sold by realtors. You will need to consider as many angles as possible to get the right kind of buyers interested in your property so don't be afraid to take some time and try different things to attract the right buyers.

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