For Sale By Owner Tips
Are you thinking about putting your house on the market? Are you thinking about For Sale by Owner? With the way the market is you might be considering just doing it yourself to skip the 6% commission of the professional real estate agent.
You might be wondering where to even start with this process. I am very happy to help you step by step with this wonderful guide on how you can sell your own home.
Prepare Your Home for the Market
- Deep Clean & Unclutter and Minimize Everything. A clean home is a sign of a well kept home. First impressions are the only impressions. The less stuff you have in your home the larger it will seem.
- Light it up! Pull the shades and put in new and brighter lights.
- Let fresh air in. As with everything you need to make your home as neutral as possible. Scent is the next most impactful sense to sight. While you might have become used to Fido and Fluffy’s scent a potential buyer might notice that the second they walk in. What you might feel is a very wonderful scent may not be universal.
- Paint. Up the value with a clean coat of paint in a neutral color.
- Fix it! Fix anything that is broken or replace it. Give your buyer as little to come back with in an inspection as possible.
Figure Out the Value of your Home
- Location. If you want to know the value of your home look at others in your neighborhood. A house that is exactly the same in another neighborhood may not be the same market value.
- Condition. Be objective about your property. You may love the quirks, but it is time to be honest with yourself.
- Price. This is the number one factor in marketing your home. A house is only worth what another is willing to pay for it.
- Terms. More terms available equals more available and potential buyers.
- The Market. A combination of interest rates, competition and the economy all influence the market.
If any one of the above is out of sync you might find your home is on market longer than you anticipated.
Marketing your Home
- Internet – Today everyone is on it. Make sure you get your home online and visible to all of the people out there browsing the web.
- Hire a professional real estate photographer. A picture is worth a thousand words. A picture is also worth a lot of money in your pocket. After you have cleaned and staged your home, do it justice and hire a professional to make sure it looks as good as it does. Your camera phone will not do it justice.
- Post in local magazine and newspapers.
- Post open house signs around your neighborhood
- Put a For Sale By Owner sign in your front yard
- Create a Flyer to have handy for potential buyers