Friday, December 28, 2018 / by Bret Shugrue
But what if you want to list your OWN HOME for sale? For Sale by Owner. You have a lot of connections, know what your neighborhood values are and have the time to walk prospects through your home (without taking their comments personally!).
Here are some pointers to get you on the path to real estate sales success.
Selling your own home
Know the facts. There are typically only a few reasons why a home does not sell right away.
1. The condition or location of the house is too undesirable
2. The price is not competitive
3. There are too many other houses for sale
4. There is not adequate marketing to find the right buyer
Make sure you do your homework
While there isn’t anything you can do to change the fact that your house is on a busy street, there are certainly things you can do to mitigate any negatives. For instance, closing blinds can cover for nearby power lines. Soft music can mask light traffic noise. Turning lights on will make your home lighter and brighter. And doing minor repairs and a heavy-duty cleaning will help your home sparkle. Do your homework to know how your home’s condition compares to others on the market.
Price your home to sell
List the pros and cons of your property as compared to others in the neighborhood. Subtract value for fewer features and add value for enhanced features. Consider features like number of bedrooms, number of bathrooms, garage size, basement finish level, and proximity to parks, open space and public transportation. Make sure your home is appropriately priced against other homes that recently sold or are currently on the market.
Get the word out
There are a lot of ways to market your home. A yard sign, flyers, posting on social media, posting on Internet sales sites, etc. You may also want to advertise and host an open house. The truth is, the more people that know your home is for sale, the better your odds of selling it quickly.
You’ll need to be available to show your home to potential buyers. If the potential buyer is working with a licensed Realtor, you won’t need to be home, just give the buyer’s agent access to your home. Be prepared to negotiate with the buyers. Sometimes they will want to offer less money to purchase your home, other times they will have a list of requests for you to perform before they agree to purchase. And finally, be ready with a legal sales contract. Consult an Attorney if you are unfamiliar with legal documents.
If you still have questions on whether a For Sale by Owner is right for you, give BPG a shout and we will walk you through your options. In some cases, the Bogar Pilkington Group may be able to assist you with marketing your FSBO listing, free of charge.