4 Things You Need to Know About FSBO or For Sale By Owner
What is FSBO or for sale by owner? What does it take to do FSBO? If you’re thinking of selling your home without representation, here’s what you need to know.
Do you need to sell your home? If so, many homeowners try to sell their home as FSBO before hiring a realtor. FSBO means for sale by owner and is a great way for homeowners to get the full value of their home and to sell their home quickly.
But here’s the biggest fact: you’re not a realtor. From the first ad you post to the closing process, you’ll likely experience more stress than you anticipated. This is by FSBO isn’t for all homeowners.
Here are 4 FSBO facts all homeowners should know.
1. Know How Much Your Home Is Worth
It’s easy to put your home at the highest value you can imagine. But homeowners need to be realistic when pricing their home.
Determining your home’s value is a complex process.
This requires lots of research, taking any renovations (or lack thereof) into consideration, and other factors such as the market value and even the time you’re putting your house on the market.
2. Prepare as Much as You Can
When you put your house on the market, you’re in charge of everything. One of them is walk-throughs, staging and hosting an open house. Before you let in potential buyers, prepare your home.
This includes heavy-duty cleaning and even moving out some or most of your furniture.
It’s also best to keep children and pets out of the home – for good.
Because of the toys and fur all over your home, you have to constantly clean. If you don’t have a new or second home, see if your family can stay with a relative or a close friend until you close your home.
3. Don’t Forget Marketing
Why do realtors take a large chunk of your home sale? That’s because a big portion of their commission goes toward advertising. Fortunately, the web makes it easier to market your home and to find potential buyers.
Research home listing websites and other websites where you can advertise your home. Research marketing tools such as SEO to improve your search engine results.
4. Think Like a Realtor
Unfortunately, you’re not a realtor. But that doesn’t mean you can’t dress up and play the part.
Realtors don’t know anything about the fond memories and good times you’ve had at your home. They look at prices, value, and other market facts.
Take away your emotion and sentiment. Focus on the core facts and share this information with a buyer first.
But there are times when you can focus on the sentimental facts.
Are there certain aspects of the home that make it family-friendly, such as an extra room you used as a playroom?
Maybe there’s a great school in walking distance and the backyard is large enough for a dog?
If you want to promote these aspects of the home, you should still convey it like a realtor. Explain the family or pet benefits, but leave your personal life detached.
What If You Have No Luck Selling For Sale by Owner?
Unfortunately, for sale by owner doesn’t work for all homeowners. But if you don’t want to hire a realtor or want to get your house sold quickly, you do have options.
If you are wanting to get a fair cash offer from me I would love to help you sell your house in Pueblo fast!