For Sale By Owner

December 4, 2009 by  
Filed under Blog, For Sale By Owner

How to Market a FSBO


FSBO or shortly known as “For Sale By Owner”. These FSBO Homes are often sold by techniques do-it-yourself and that has produced booming sales among many. This means you will not have any real estate or sales agent representing you when you sell FSBO homes. There will be no third party interference and many home buyers like this idea of negotiating directly with home sellers. In fact, the National Association of Realtors looks a growing market trend of FSBO Homes being sold more than their represented counterparts.

Selling FSBO homes are for those who want to sell their homes without the mediators and quickly. The mediator’s commission can be seven percent of home’s selling price. All home sellers need is to spend time and effort in promoting the FSBO homes for sale and learn the art of negotiating irresistible offers.

The below are the Seven Helpful Tips on How to Market Your FSBO Homes:

1. Find Out Your Marketing Price:

You should do research and compare your home with others of like features to know its market rate. Without research don’t figure out the value of your home. You include your renovation cost if you have done any renovation works. Don’t price your home too high or too low, fixing price in the median range is somewhat hard and also make room for discounts asked during the process.

2. Do a Home Makeover:

What’s pleasing to the eyes always have a way of turning into a pot of gold. Buyers can be simply tuned off with simple defects like paint or a cracked wall. Anything needs fixing will finally effect on your home’s selling cost. So do the necessary repairs to improve your home valuable before showing the house. You should spend in furnishing only if you plan to include them in your sale.

3. Look for Legal Advice:

Even though if you have skills that match those of cunning real estate agents you need legal advice or help in documentation, especially when calculating mortgages, contracts or filing legal documentation like a deeds of sale or transfer of title. You need to give out extra funds for your legal expert to assist you in making the sales of your FSBO homes.

4. Gain knowledge About Self-Promotion:

To sell FSBO home you don’t need to invest a huge to prospective clients. There are many free sites to post ads of your FSBO home listings on the web. You should keep your listing updated so it won’t look like it’s taking too long to sell. Take a good photo of your home and be brief with your description and mention any flaws, if applicable. You can also mention number of rooms, historical value, nearest amenities so that your home will be more attractive to buyers. Or you can simply just rely on “word of mouth” to spread the news about your home for sale.

5. Prepare for Home Visits:

Your home doesn’t need to look special, but make sure it is clean and esthetically pleasing. You need to schedule your home visits such that it should satisfy all prospective home buyers on your lists. Highlighting the architectural elements, any scenic views you can increase the chances of your home sold. It can be a lot of work, but if you have the extra time, you may put up an open-house for visits anytime


6. Make a Firm Offer:

Although you are presented with the best offer, be sensible and take some time to make the decision. Even before agreeing to your buyer’s term, you need to check his or her financial capabilities and make sure that they are qualified for the mortgage or else you both are wasting your time. You need to know the art of counter offer if you don’t agree with the offer of buyer and always compare offers before finally going for one.

7. Shield Your Interest:

To make smooth payment transaction process, you can have escrow. Having a neutral third party to hold all your legal documents until and unless goods and cash are exchanged can protect from miss-dealings. Make sure there are contingencies in place where you will have the right to reject the initial offer if you don’t meet your specified requirements of your FSBO homes.

Housing Assist Coldwellbanker