Many homeowners forego the agent option and decide to sell their homes by themselves, or aka For Sale by Owner (FSBO). There are implications in doing this, and many potential mistakes that can be made as a result.
That is not to say that you cannot be able to successfully wade through the process of selling your home yourself. On the contrary- there are many FSBO success stories today, and many more are still in the making. For yours to be one of them, you have to know the mistakes to avoid, so that you can complete a sale, with success.
The first thing you need to do is to educate yourself with the real estate terms and the specifics involved. One major reason why people go to professionals is because they are not well versed in real estate matters. If you decide you don’t need one, the task of understanding the complexities that come with selling a piece of property becomes imperative. You need to understand the legal part of it as well, as the sale cannot be complete without the law applying in one or two areas.
You need to know how to hold moving open houses. The importance of holding an open house has come under question many times, and this has resulted in the whole idea being cast aside. But if you want to make that sale quickly, you cannot ignore this. There are homebuyers that want to see a piece of property in detail before they buy it. Your open houses need to be well planned and well thought out.
Never make the mistake of valuing your home yourself
Get your home independently appraised and inspected, and don’t rely on yourself for accurate results, unless you are a real estate appraiser by profession. There are so many errors that you can make with this, and the dangers of overpricing or overpricing your home usually stand out. When you live in a home for a while, you get accustomed to everything. This means that there is as a strong possibility that there are one or two things that you might miss out on when it comes to improvements and repairs. Getting an inspector is mandatory in some states, and it helps you know what needs to get done, and how soon.
You have to do your advertisements right. This is one area that FSBO sellers compromise on, because they are not versed in the avenues of marketing that work best. In this case, you should cast your net far and wide, and use any advertising idea that comes to mind. Use online and offline listings, print flyers, use social networking sites, place signs on your yard- everything that you think of.