Looking to sell your home, but trying to save on paying the commission to a realtor? If so, FSBO (for sale by owner) may be a great option for you. If you are new to the world of real estate it is possible that you will make some mistakes that will cause your home to not be sold very fast.
Selecting the Wrong List Price
The list price for a home is crucial to making a fast sale. Many buyers are doing their own searches online and set a price range for the homes they look at. If you are outside of that range then you may never attract the right people to your home. You will need to properly list your home at the right price to match similar homes in the area. On the flip side, pricing your home too low can lead to lost income from sellers that jump at a good deal.
FSBO sales are listed at the incorrect price because many homeowner tend to list the price too high. To them the home has sentimental value, and they place value in all of the improvements and upgrades hey have made over the years.
It helps to have a real estate agent perform a comparative market analysis to find out what your home is worth. They can assist you in coming up with a price that is fair and accurate.
Marketing the House Incorrectly
Selling your own home also requires that you're on your own for marketing. Letting people know that your home is for sale is very important, and it involves more work than buying an ad in the local newspaper and putting a for sale sign up on the front lawn.
You'll have to take the necessary steps to get your home listed with online real estate search engines. The MLS plays a huge part in this, since it distributes your information to all the popular websites that people use. Many sellers doing everything on their own don't know how to do this.
Another important aspect is to know people who are interested in a home like yours. Real estate agents work with buyers all the time, and an agent will eventually meet a seller that is looking for a home just like your that they can recommend.
Selling a home on your own is much harder than it seems. Try using a real estate agent that can sell your home as fast as possible for a good price.