Tips and Strategies to do ‘For Sale by Owner’ the Right Way
For sale by owner, also referred to as FSBO, is when home sellers choose to list, market, and—hopefully—sell their home without the help of a licensed real estate agent. Selling your house without an agent can save you thousands, but if you don’t do it right you could lose a significant amount of money.
Is FSBO Right for You?
There are many reasons to sell on your own without an agent. One of the primary reasons is to save money on real estate agent commissions. Other reasons include when you already have a buyer lined up, or when you need to sell in a hurry (typically a week faster than with an agent).
No matter the reason, you’ll need to decide if selling FSBO is going to be the right move considering you will be responsible for the entire transaction from pricing to vetting offers and managing all the paperwork along the way.
If you’re ready to tackle the job, we’ve put together this post to help guide you through some of the important steps you may be tempted to cut out in order to save additional work and time. However, if you want to get top-of-the-market value, you’ll have to follow the well-worn path of prepping your house for sale.
Pricing Your Property
Agents will put together a competitive market analysis (CMA) which compares your house with others close by that share similar features such as the number of bedrooms, bathrooms, and square footage of liveable space. You can do some of this research on your own using Trulia or Zillow to get an idea of what similar properties have sold for. Be careful not to overprice your house. An overpriced house is much harder to sell.
Prepping Your Property
It’s important to put your best foot forward and put in additional effort to bring out the best qualities in your home.
Staging helps potential buyers imagine what the house could look like if they owned it. Staging means removing your personal belongings and making the house as neutral-looking as possible.
A lot of attention is paid indoors, but before anyone steps foot in the house, they will make a judgment from the outside. Make sure your plan includes a budget for a gardener to take care of overgrown foliage and remove dead plants. Replace rusty or broken light fixtures and add a nice welcome mat. You’ll also want to repair any visible wood rot and give it all once over with a new paint job.
Upgrades and Repairs
You may have heard the saying, “Kitchens and bathrooms sell.” Of all the features in a house, these two rooms have the most dramatic effect on how a potential buyer views the property. Upgraded kitchens and bathrooms make an impact, but they can also make an impact on your wallet.
Showing the House
People will want to tour your property. With FSBO, you need to jump on every opportunity that you get, which means planning your schedule around showings and not the other way around. Be flexible with scheduling and ready to change your plans if a buyer wants to see the house.
When it comes to listing and showing your home, remove emotion from the process. As potential buyers walk through they will have their own priorities and taste. It’s important to change your mindset from that of a homeowner to a salesperson.
A Faster Easier Way
If you’re looking to save money on commissions, upgrades, and staging then selling to a professional house buyer like us is the fastest and easiest way to FSBO. We will guide you through the complex paperwork and process.
Benefits of Selling Your House to Us:
- No staging
- No commissions or closing fees
- We close in as few as 14-days
- No repairs or updates needed
- No house showings
Contact us today for a no-obligation offer and a stress-free FSBO.