Five Tips When Selling Your Property As An FSBO

So you have decided to sell your property as an FSBO. We understand that you are doing this, for obvious reasons that you would prefer to keep most of your profits. By not contracting the services of a real estate agent you will be able to keep the commission that is supposed to be paid to the agent. However, you have to be prepared to take on the duties of a real estate agent. If you are selling as an FSBO for the first time you have to understand that you have to develop your sales and marketing strategy from the ground up. Which means that you also have to be ready for a high learning curve, which also means that you have to be ready to dedicate time to do all these.

If you have come to terms on the challenges ahead, that means you will find ways in order to make sure that you will be able to make that sale. But do not fret if you do not know where to start, we have prepared a list of initial steps that you can follow for you to start as an FSBO.

1. Have Your Home Inspected - as an FSBO you have to practice due diligence and have the house inspected by a professional. This is to make sure that you know all the repairs that need to be done in your house. You do not want your home to be devalued just because you were not able to fix the defects in your home. By auditing you will be able to take note of the defects both obvious and hidden. Increase the value or sell your home at the right price by doing this simple step.
2. Get to Fixing - After having your property inspected, and if you found out repairs to be done, it is time to get to fixing these parts of your property. By doing this you do not only fix your property but also potentially increasing its value.
3. Get the Price Right - this is an area where most FSBO’s are having difficulties, pricing their property correctly. It is important that you value your property correctly based on market standards to ensure that you will be selling your property at the right market price. To properly do this you can hire the services of a professional to do it for you or you can do it yourself by conducting your research on what is the fair market value of your property.
4. Stage Your Home - staging have several benefits, one of which is to make your home presentable not only during your open house but also when you take photos of your home which you will be using in your online advertising.
5. Advertise - time to advertise your home, have it listed in different MLS listing services or to help you with this part of your selling process, hire the services of a flat fee mls listing service. This way you will be able to have your property listed in MLS sites without having to pay a commission but by paying only a flat fee. Furthermore, you get access to several other advertising assistance such as being provided with a front yard sign to capture the attention of potential buyers passing-by your property.

These are the five suggested guidelines to help you get started as an FSBO, of course these are not hard rules that you must follow and digressing is possible especially if the situation calls for it. For the first time FSBO this is a good place to start.