|
||||||
|
||||||
|
Top 10 FSBO Tips to Selling Your Home by Ownerword count 1275character width 60 resouce box ----------------------------------------------------------- -- ----------------------------------------------------------- -- Top 10 FSBO Tips to Selling Your Home by Owner by- Alan Kirchain ----------------------------------------------------------- -- ----------------------------------------------------------- -- By using some simple FSBO (For Sale by Owner) tips and techniques, the average homeowner can sell his or her own home without the assistance of a real estate agent,just as many others have done in the past. Selling your own can be very rewarding and you can save thousands, but it takes work and commitment. Below you will read some simple strategies that can stack the odds in your favor, greatly increasing your chances for success when selling on your own. FSBO Tip 1. Understanding the real estate market. Getting an idea of your local market conditions makes good sense. Just like any other product getting a feel of what's hot and what's not can help you make decisions that affect the sale of your home. Consider your neighborhood and the features that distinguish it from others. If you're comfortable, contact a real estate agent to discuss what the current market environment is like. FSBO Tip 2. Timing is everything. Timing the decision to sell and gauging the current market conditions could be two of the most critical decisions you make. If you need to sell your home quickly, the less flexibility, you'll be able to have. Conversely, if you're not in a big hurry you can sit back and wait for the perfect buyer. Just remember the real estate market is a cyclical environment. If it's a slow period now and you're in a position to wait it out then it might be a good idea to wait for the next upswing. FSBO Tip 3. Assemble a team of professionals to help you. While it's nice to think that you can handle things on your own, selling a home takes specialized knowledge. It's more than just writing up a sales agreement. Depending on what part of the country you're in you'll either need to find a real estate attorney or a title / escrow company to help with the legal details. As a rule of thumb, if you're east of the Mississippi it's usually a real estate attorney. If you're west of the Mississippi, it's a title company. Either way they'll be an indispensable part of your home selling process. Another important partner to consider is a reputable mortgage banker/lender. They can assist in helping you prequalify buyer prospects. We'll talk more about qualifying prospects as you read on. FSBO Tip 4.How to determine the fair market price of your home. This always seems to be a real tricky one. For many home sellers this typically reveals itself as a major point of contention. When trying to decide on a price guessing or basing your asking price on hearsay or nontraditional methods immediately reduces your negotiating advantage. Basing your price on what the house down the street sold for or what media outlets perceives as increased market value is not the way to get a legitimate price either. There are only two legitimate and well-recognized ways of determining a fair market value. One way is to contact a real estate agent or broker to provide you with a CMA otherwise known as a comparative market analysis. The best and most accurate way of determining price comes from a full-blown appraisal done by a professional real estate appraiser. FSBO Tip 5. You're selling a house not a home. While it's important to become emotionally detached, you don't have to become a robot. After all this is your home, be objective but don't be cold. Keep in mind that people are going to perceive your home differently than you do. Either way remain positive and ultimately the right person will walk through the door and buy your home. FSBO Tip 6. Preparing your home for sale. Today's real estate market rewards those homeowners that place a high-value on neatnessas well as cleanliness. It not only adds value but alsogenerally promotes a quicker and more profitable sale. Once again the depersonalizing of your home helps your prospect with such an emotional decision. Decluttering the inside of a home is also key to your preparation. If necessary, rent out a small storage space and store some household items there. Just as a side note, having a garage sale is also a great way of getting rid of items that clutter up the house. Not only do you get rid of the items but also you make a little money in the process. FSBO Tip 7. Start spreading the news. It should be understood if you're going to sell your home and you're going to do it yourself, the easiest way to get the word out is to put a sign in your yard. This will immediately get the attention of anybody that happens to ride by. Naturally, this is the essence of selling on your own. Coming up with a highlight sheet to outline the key features of your home is a must. With the readily available use of word processing programs putting together a simple highlight sheet is easy. FSBO Tip 8. Knowing a few, negotiating skills will get you a long way. It's not necessary to become the next great diplomat. You will want to keep in mind that it's necessary to keep your emotions and personal feelings regarding the negotiating price of your property in check. When discussing the selling price it's important that your calculations and numbers are correct. This allows you to have greater flexibility and leverage and you can negotiate from a position of strength. FSBO Tip 9. Qualifying buyers and stopping the lookie loos. So what's a lookie loo? A lookie loo is a person that comes to your house and looks in everything. They,look in cabinets,closets and drawers check everything out but never make you a serious offer. You need qualified buyers looking at your home or it's going to get very discouraging. One of the best ways of getting qualified prospects is to have them referred by your mortgage broker/lender. You can also take the direct approach. If you're arranging a showing over the phone, go ahead and ask them if they are pre-qualified. Don't be too shy when it comes to your prospects. If you're holding an open house and someone expresses interest in your home go-ahead and ask. Most of the time if they're pre- qualified they love to tell you. So don't worry about asking, it's the right thing to do. FSBO Tip 10. If all else fails go to where the realtors hang out. If after a while, you're not getting the results that you were hoping for you can always go to the MLS option. This doesn't mean that you have to list with a real estate agent or broker though. As a private party, you can list your home with your local multiple listing service. Usually this cost a fee but by doing this you automatically expose your house to thousands of potential prospects all over the country. The upside is that you should be able to sell your home in short order. The obvious downside will be that you will have to pay co-op to an agent. Only in unique situations would the cost of co-opting be virtually impossible, due to low equity or some other extenuating circumstance. These FSBO tips should give you a solid foundation to successfully selling your own home. There's many specific ideas and recommendations that are beyond the scope of this article when it comes to pricing, preparing and staging your home, and all of the items previously outlined. You should definitely research and prepare yourself for the selling of your own home process. In the long run,it will make things easier and could either save you or even make you thousands of dollars. About the author: Alan has bought and sold several homes over the last 10 years by owner and knows what it takes to successfully get the job done. As a resident of Jacksonville, Florida Alan's wife Tracey works as a successful real estate agent. By understanding the ins and outs of buying and selling real estate, you can accomplish selling on your own with the right knowledge. For more information on selling your own home, please visit For Sale by Owner/FSBO Tips Circulated by Article Emporium How To Make Money In Real Estate Without Buying Any Property: Become A Mortgage Broker How To Make Money In Real Estate Without Buying Any Property: Become A Mortgage Broker. Will Real Estate prices keep going up or will the bubble burst? Who knows? Either way, real estate is a risky business. Tying up all that money and having very little liquidity... The Mind of the Real Estate Investor Myself and many others are living proof that by changing your mental and physical habits, you can build your wealth. This mini-course focuses on changing or fine-tuning your mental habits and attitudes toward real estate investment so that you can profit at will. It's about getti... How To Make Money In Real Estate Without Buying Any Property: Become A Mortgage Broker How To Make Money In Real Estate Without Buying Any Property: Become A Mortgage Broker. Will Real Estate prices keep going up or will the bubble burst? Who knows? Either way, real estate is a risky business. Tying up all that money and having very little liquidity... Glen Rose real estate market growing thanks to demand for exurban subdivisions. Although most widely known as the Dinosaur Capitol of Texas and for its travel and tourism appeal, Glen Rose, Texas is quickly gaining a reputation as a highly sought after city to live in. As recently as 2004, Glen Rose was voted as America's Dream Town (www.glenrosearea.com), an... Selling A Home – What Attachments Stay or Go? The home selling and buying process can be confusing. This is especially true when it is a FSBO (for sale by owner) operation. It's even tougher when neither the seller nor the buyer is in the real estate business. This article sorts through what stays in the house or condo when it... Top 10 FSBO Tips to Selling Your Home by Owner word count 1275 character width 60 resouce box ----------------------------------------------------------- -- ----------------------------------------------------------- -- Top 10 FSBO Tips to Sellin... Finding an Apartment on the 'Net. Sometimes, the best way in finding cheap rental apartments is the cheapest and fastest way – through the Internet. If jobs, cars, and second-hand stuff can be found on the Internet, it should be easy finding cheap rental apartments on the Internet as well. Instead of browsing throu... If Real Estate Investment Is So Great, Why Doesn't Everyone Do It? Oh, that's an easy one. I can answer that in one word. FEAR. Real estate investment is a great way to change just about everything in your life, but it's one of those things where doing it for the FIRST time is the toughest. In fact, the second is exponentially easier! In the second part of The 8 Biggest Rehabbing mistakes we look at three more areas that can swallow up your profits in no time. BIG MISTAKE #6: YOU PAY TOO MUCH WHEN YOU BUY You make your profit when you buy. Pure and simple! I will always tell my coa... Tax Foreclosed Properties as an Investment Tax Properties Every property that is owned is assessed property taxes that must be paid every year. Property taxes are paid to local and state governments based on the appraisal value of the real estate. All states, the District of Columbia, Puerto Rico and the Amer... Home Buying Checklist – Windows If you are in the market to purchase a home, it can be easy to fall in love at first sight. Do so at your own risk. While the overall appearance of a home is important, the quality is in the details. In this article, I provide a checklist of window issues you should consider when v... The Right Time to Buy Your First Home There are many real estate market forecasts and predictions available - however the bottom line is that if you want to buy your first home—there is no wrong time. This is because the motivation to buy is not determined by regional market conditions or by location, but rather by yo... The Key to Real Estate Investing Success... Revealed! How did you get into real estate investing? Did you read a book on it? Was it a seminar? A meeting of some sort with speakers dispensing real estate investing information, but really selling courses? Did you get really, really jazzed and pumped up by these simple ("not easy") conce... How to Use the Internet to Help Your Apartment or House Hunting So you are looking for an apartment to rent or a house to purchase. One of the most important steps is researching the neighborhood to decide if you really like to live in that area. The best way to do this is driving around that area to see if you really like that neighborhood. Yo... Is Your Real Estate Investing Comfort Zone Being Threatened? Have you ever imagined yourself putting through a multi-million dollar deal, going to closing and picking up a check with six zeros? It's the ultimate dream for real estate investors. But why must it be a dream when it can just as easily be a reality. Every day th...
|
|
|||||
|
||||||