DIY TIPS: For Sale By Owner

October 19, 2017 11:45 am Published by

4 Tips for Selling Your Home FSBO

Real estate agent commissions are on the rise, so many homeowners are making the switch to selling their homes on their own, without the assistance of an agent. While choosing this method can save you a lot of money, it will also require a lot of work. Read on for everything you need to know about selling your home for sale by owner (FSBO).

Set Your Price

Many homeowners who sell their homes FSBO make the mistake of overpricing their homes. Remember that it is not your personal opinion that determines the value of the house. Rather, it is the housing market that sets the price. Do a bit of research to find out what other homes are selling for in your area, and adjust your price accordingly. Choose a value just under a round number, like $249,900 rather than $250,000. This subtle difference tricks buyers’ brains into thinking that the price is a better value, even though it’s only a difference of $100.

Clean Up Your Home

This rule applies in any home sale, but it is especially important when selling your home yourself. Pay particular attention to the front of your home, as this is the first thing buyers see when they arrive. Tidy up the inside as well, focusing on removing clutter and fixing any damage. Don’t forget the backyard too. Add some new plants to your garden, and be sure your grass is freshly mowed. You want your home to look as good as possible when the buyers start coming.

Do Some Marketing

Without a real estate agent, you will be responsible for all of the marketing. Buyers won’t come to your home if they don’t know that it is for sale, so place some ads online or in your local newspaper, particularly on weekends when you plan on hosting an open house. You may also want to consider listing your home in the MLS, the major real estate database that realtors use when finding homes to show their clients. It will cost you a few hundred dollars, but the initial investment is well worth it.

Hire a Lawyer

Hiring a lawyer will help to protect you from legal issues down the line. Your lawyer can help to draw up the purchase contract for your home so that you are protected in the event of any complications. This is a good investment, even if just for your peace of mind.

Follow the tips outlined here, and you will be well on your way to a successful home sale. However, if you decide that it is too much work or too complicated and stressful to sell your home yourself, get in touch with me. I am an experienced real estate agent in theKamloops area and can assist you throughout the process of listing and selling your home at a price that is suitable for both you and your buyers.

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