Have you been thinking you want to sell a property but you don't want to use a real estate broker? Maybe you want to save money and you don't think the sale price will yield the return you're wanting with a real estate agent being involved. Not to worry, I have some tips that would allow you to sell your house for sale by the owner (FSBO).
Price It Right
When pricing your home the most important thing to do is be honest with yourself. Price your home not based on what price you need or how you feel but price your home based on comps and conditions.
When looking at comps compare square footage, bedrooms, and bathrooms. Also, look at the condition of your home versus the condition of the comparable home. Based on that you should be able to come up with a really good price to get your home SOLD!
Take Pictures
Taking pictures is an art and because pictures are most likely what will help with the sale of the home. Make sure the pictures highlight the best parts of the home. The pictures need to be bright and clear. Also, the rooms must be free of clutter and people.
Do you know those infamous FSBO pictures with the person taking the picture in the mirror? Yeah, we definitely don't want that nor do we need it. Put your best foot forward when taking pictures of your home.
Prepare Documents
There are documents you need before you sell your home. You will need a seller property disclosure, this document explains what all has been done to the home as far as roof replacement, upgrades, leaks, HVAC date, etc. A community association disclosure (if there's an HOA) informs the buyer on what the HOA fees are, what they cover, how much they are if they are mandatory and how much they are. Also if you are willing to pay a buyer's agent, you need a document that says agents protected.
Please take the time to research these documents or you could also contact a real estate attorney to draft up the documents. The real estate attorney will charge by the hour but that will ensure you have covered yourself legally.
Market Your Home
There are lots of sites to start marketing your home for sale but the main site is obviously Zillow and there's a few other sites like FSBO.com and ForSaleByOwner.com. This will help the home get more exposure. These sites offer different packages at different prices. Pick the package that best suits you and start marketing your home.
Be Available
Now, the phone may start ringing, and selling a home is more than a full-time job, we agents work about 80 hour weeks. So you must be available to answer all calls. You must also be available for all showings if you don't have a lockbox. Also, be available to respond to all emails.
Put A Sign In The Yard
I mean this is an obvious one. The more exposure the better. And someone may not be online but they may be driving the neighborhood. Your sign will allow them a way to contact you.
The National Association of Realtors states that 22% of for sale by owners sold their home from a yard sign.
Get The Buyers To Call
Now you've posted it online and put a sign in the yard, they should be calling right? Wrong.
Your verbiage in the description of the home needs to be captivating and inviting. Connect to the personal side. Highlight the things that made you fall in love with the home and things that you fell in love with after moving in. This will help them fall in love as well.
Prepare For Showings
Exciting, the phone has been ringing and now you have a showing. Now, what is next? You must make sure the prospective buyer is qualified to buy your home. Which means they need a pre-approval letter from a lender.
You should also call the lender to verify the information is true. You may want to make sure you know the potential buyers' information. Get a copy of their driver's license for safety reasons.
You don't want to be in a home alone with a complete stranger and have no information on them. Another good practice is to send the ID to someone close to you and let them know what time the showing is and the address, just in case. You also want to make sure the home is show-ready, which means neat, clean, and clutter-free. Smelling good is a bonus but it's definitely helpful.
Host an Open House
Post the open house online, Zillow, social media, and send an email to your entire contact list. Make a flyer and give it to your neighbors as an invite (they might know someone interested in the neighborhood).
On the day of the event, it would be nice to have light refreshments and a sign-in sheet to follow up. Follow-up with the potential buyers after the open house. Have someone with you for safety and don't walk the house with anyone. Good Luck!
Congratulations you are on the path to selling your home without an agent. The thing about selling a home is it's simple but it isn't easy. It takes a lot of time, patience, knowledge, and expertise. Don't get me wrong some people can sell a home without any of that but this was probably a home that needs little to no help selling.
Everything is best done when you hire an expert. The Ritzberg Team is your local home selling expert. Sometimes saving money isn't worth losing money (if you know what I mean).
An expert will negotiate to get you the most money in the least amount of time. The National Association of Realtor's statics shows that for sale by owners end up selling their home for 16% less than they would have if they hired a professional.
It also makes for an easier sell when the buyer and seller aren't in direct communication. FSBO sellers are also lacking in access to the multiple listing service.
When a realtor lists your house it gets sent to over 600 sites. Also, a realtor has a lockbox that lets you know everyone entering the home. With that being said take the steps to sell your home and if it isn't your forte, Ritzberg Realty is here to help!
Home sellers have trusted Ritzberg Realty for over 7 years with selling their homes. Lastly, if you feel you don't have the time and patience or are not willing to lose the money contact us today!
Ritzberg Realty can sell your home for more money in less time. We will list your home and have it sold in 2 weeks. As of January 2020, Ritzberg Realty has sold 1256 homes. Click the Sell My House Fast tab to find out more.
