Questions You Need To Ask Yourself Before Selling As A FSBO

It is not a secret that selling as an FSBO will expose you to some difficulties that you have to hurdle. The challenges are so huge as compared to just hiring the services of a real estate broker. However, the returns in terms of profit is also much more rewarding than having to acquire the services of a broker. The money you gain in selling as an FSBO is so significant that you can already invest it in a business or maybe use it to buy a new house. But do not just jump into selling your home as an FSBO just yet, statistics have shown that there is only a handful of FSBO who raked in success in selling their own property, most, about 90 percent of FSBO fail. Now it is not because FSBO doesn’t work but rather the homeowners who are selling their property as an FSBO do not have the right knowledge on how to execute selling their property the right way.

In order to prepare yourself in selling as FSBO you have to ask yourself of the following questions.

1. Do I Really Have the Time? - time is your greatest asset in selling as an FSBO. This is because you will have to do most if not all the things that a real estate broker does in order to sell your property. From having your yard sign and your property listed in mls sites to negotiating any offers and counter offers. You would also have to allot time preparing your home for open house and of course time to actually conduct the open house. If your answer in this question is in the affirmative then you are well on your way to selling as an FSBO.
2. Do You Have The Negotiating Skills? - when selling your home you will be receiving different offers and counteroffers. You do not immediately jump into an offer especially if it is lower than what you are asking for. This is where your negotiation skills would come in. Make sure that you have the necessary negotiation skills so that you will avoid having to sell your property at a lower value than what it is supposed to be valued at.
3. Do You Have The Money? - selling your property might be because you need the necessary finances in order to do home staging, home improvements and some other necessary efforts that would require shelling out some of your finances. Home improvements is important especially so that this will also increase the value of your home, you will be surprised on how high your property will go with just a little improvement. You will also need the finances in order to have your property listed in mls by acquiring an affordable flat fee mls service.
4. Can You Value Your Home Properly? - the most important skill that you should have is knowing how to value your home properly. This is where most of the FSBO’s fail, valuing their property the right way. Knowing how to value your property the right way is already a huge step towards being a successful FSBO. Remember you want to sell your property on its fair market value or higher and not lower than that.

Selling as an FSBO will yield higher profit for you however, it will also require a lot of effort on your part. This is why it is very important to ask yourself these questions in order for you to know and understand whether or not you are ready to sell your property as an FSBO. Finally, it doesn't hurt to search for more tips on how to become a successful FSBO.