Planning to sell your real estate property by yourself? Find out what you need to do when conducting an FSBO (for sale by owner) property sale.
Q: How do I sell my home without a broker or an agent?
A: Selling a property can be complicated, even more so if you’re doing it on your own and are doing so for the first time. With or without a real estate broker agent, the process of an FSBO (for sale by owner) is going to take time, not to mention a lot of effort, but it can be done. Just keep in mind that you’ll be pulling all the weight, so make sure you’re ready for the responsibility before you proceed.
First, price your home right
Determine how much you can sell it for by comparing it to other homes in your neighborhood that are either for sale or have recently been sold.
Market your home
The easiest way for you to do this is by creating a listing for it in a real estate website. Provide all of the necessary details, add high-quality photos, and make sure you input the right contact information. Make use of social media sites like Facebook, too. Most people these days use these platforms, which will increase the chances of your property getting noticed.
Be ready to entertain buyers
Make sure you’re always available to answer questions about the property, whether the inquiries come in phone calls, texts, emails, or Facebook messages. Also, since buyers will most likely be available to see your home on the weekends, you need to either free up your calendar too, or call on a trusted relative or friend who will show your home when you can’t do it yourself.
Clean your home
Once you get people’s attention, you need to be ready to show off your property. You don’t need to perform any major renovations, but be sure to so give it a good cleaning, organize any space that seems cluttered, take care of any unpleasant odors, and have someone take care of your pet so they’re not in the way.
Prepare to haggle
Buyers come in all shapes and sizes, but they all have one thing in common: they want more bang for their buck, so you can expect them to ask you to lower the price. If you believe your home warrants its current price tag, it’s OK to stand firm and wait for a better offer. On the other hand, if a couple of months go by and you haven’t gotten any inquiries yet, consider slightly lowering your selling price.
If you’re dead-set against hiring a broker or agent to help you sell, you should at least consider hiring a real estate attorney to help you out with the paperwork when finally closing the deal. Real estate buying and selling requires quite a lot of legalities, and you need to ensure they are taken care of properly so no ownership issues arise later on.
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