YOUR GUIDE TO SELLING
YOUR HOME YOUR WAY
HOW TO GET STARTED
PLANNING & TIMING
PRICING
BE PREPARED
CLOSING
When making the decision to sell a home, there are various reasons sellers may choose to go the route of “For Sale By Owner”, or “FSBO” for short! F-S-B-O probably sounds like a mouthful out loud, and it is! So we say ‘fizbo’.
There are definitely a lot of great reasons to go the FSBO route, especially if you’re looking to maximize profit and maintain control
of the selling process. It’s a strong option for people who are
marketing-minded, with experience in selling and real estate.
A word of warning, however, this might seem like a highly appealing idea to avoid paying a 6% commission to a Real Estate Agent. But, if you're inexperienced in marketing and real estate, small errors at any stage in the process could wind up costing you big time. Whether it's a serious amount of money, legal ramifications, or both.
With that said, it can be done! You just have to decide if you’re up for the challenge, and tread carefully. It is a lot more work – you are in control of the entire process from start to finish. That means you’ll have to arrange for photography, stage your home for showings, manage bookings, and many other time consuming tasks. But independent home selling has also come a long way in the past
10-15 years, and thanks to tools like MLS (Multiple Listing Service) and Zillow, there are many more powerful real estate selling tools
at your fingertips.
In this guide, I’ll lay the groundwork for how to prepare your home for sale. From pricing to showing, all the way through closing, I’ll map out what you can expect during this process.
This won’t be an easy journey. In fact, a recent Zillow Consumer Report disclosed that of the 36% of homeowners who choose FSBO, only 11% succeed. If at any point, you feel you’ve had a change of heart and would prefer to hire a Real Estate Agent instead, please know you can call me at any time. Let’s begin!
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Don't miss out on this Free guide to selling your home. There is vital information that will help you get your home ready to sell for top dollar in today's real estate market.
Have you ever noticed that certain times of the year seem to have more homes for sale than others? That’s because there are windows of time that are better than others to put your home on the market. These vary by area. When homes are moving quickly, we could call this a seller's market; when they’re slower to move, we might refer to it as a buyer's market.
Seasonality plays a role as well; you probably notice you don’t see many new homes listed in the winter! Buyers are often too busy with family and social engagements to view homes, or they’re avoiding making such big purchases over the holidays.
There's also what we in the biz call the “golden time”. This is a window of time after listing where you’re more likely to receive bigger offers. They may even over the asking price. This window is only open for the first week or so, but after that, it closes, and the offers will decrease. If your home remains on the market too long, your FSBO efforts may fail, or you may receive or even accept an offer much lower than value.
Setting the right asking price is key. Regardless of whether you’re
going the route of FSBO or working with a Real Estate Agent, never
set an unrealistic price. This is the most important element of selling
your home.
When you over price, you’re losing potential sales. Real
Estate Agents and their buyers will run a comparative market analysis
before making an offer on your home. If your price is too high, you’ll
be disappointed with their offer... or lack thereof.
Homes are not like cars, they don’t depreciate over time in the same
way. Instead, value is dependent more on the market. With that said,
the housing market varies, and your home may not be worth today
what you originally paid.
That renovated kitchen and new deck might
look great, but investments and improvements don’t always
guarantee a high price tag when you sell.
What does decide the listing price is the current market. You’ll want
to review similar homes in your area and note how much they were
listed for at the time of sale. Overpricing is one of the leading causes
of failed listings, so if you need someone to help you with this, please
don’t hesitate to reach out. No charge, no strings, I’ll help you set the
right price for your home based on today’s market.
Now, about those improvements you’ve already made – don't worry!
These will still have a positive impression. The state of your home at
the time of inspection will play a role in the final selling price. If you
have broken elements, it will negatively impact your offers. To
maximize your profit, ensure all major and minor repairs are
complete before listing. And make sure it's maintained throughout
the selling process.
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