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General Info For Sale By Owner (FSBO) -
Ready To Sell? Read This First
If you have decided to take on the world of real estate by yourself,
there are a few things you need to keep in mind both before you start
and while during the process. If you play your cards right, your entire
for sale by owner experience will go smoothly, but you have to know a
few things beforehand.
Pricing Your Home
First, you don't have to be a real estate expert to sell your own home,
but you do have to have an idea of what your local real estate market is
doing at the time. Are you in a hot market right now or are things cool?
What prices are similar homes in your area selling for and how does that
differ from their asking price? Most importantly, how long are homes
staying on the market in your area and how long do you think it will
take for your home to sell? You have to have a good idea of the answers
to these questions before you start the process.
When it comes to setting the price for your home, there are two ways to
go about it: the right way and the wrong way. The wrong way is simply
guessing or taking an average of what the homes around you are selling
for. This is a tempting way to do business, and there can be no denying
that this method is quick, but it can really tie you up down the road.
The only really smart way to go about it is to hire a professional
appraiser who can give you a rock solid value for your property. A small
investment here in a competent appraiser can save you a bundle, and a
lot of time, down the road.
Marketing Your Property
You will need to have some kind of marketing strategy ready to implement
the moment that your property is ready to show. A marketing strategy
doesn't have to cost you an arm and a leg, you can make use of flyers,
low cost ads and a website and not spend more than a few hundred
dollars, all told. The important thing is that you have a plan in mind
that is ready to execute at the earliest possible moment.
Preparing Yourself
Finally, you will need to be ready to become emotionally detatched from
what was once your home and now is simply a house. With the prospect of
moving into a new home right around the corner, this is something that
many folks don't feel that they will have a problem with, only to find
out later that leaving is harder than they thought. You have to be ready
to move on emotionally before you can move on physically.
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