The National Association of REALTORS' latest 2023 Profile of Home Sellers and Buyers reveals that 7% of recent home sales were SOLD without the involvement of a real estate agent.
More than 54% of FSBO sellers were acquainted with the buyers, and 30% of them sold their homes to individuals in their neighborhood.
Know your Why for selling
Research and Price your home Correctly (30% of all FSBO's fail because they overprice their home)
While the idea of DIY and FSBOing your home may not appeal to most people, some may feel compelled to try it out.
If you are curious and willing to test the waters of selling your home, here are
8 For Sale By Owner Tips & Tricks to assist you in achieving a successful sale.
Start your home selling journey by stating your reason and goal for selling. Identify your preferred timeline and terms needed to close the deal. Use this "why" to motivate you as a home seller in marketing your home.
Research the real estate market and the selling prices of homes in your vicinity. Hiring an appraiser to assess your home's market value may be beneficial. Do the proposed closing terms match the market value of your property? Remember, PRICE sells homes.3
Create a list of action items outlining a Plan of Action to get your HOME sold.
Make sure before you have buyers through your home:
-Secure valuables
-Pack belongings
-Declutter
-Perform a deep clean
-Make necessary repairs
Once your home is cleaned and de-cluttered, put the final touches on it with staging. Look around and see what needs to be staged, moved, and packed. Look at your home through a buyer’s eyes.
Now you are ready for photography. With advanced cameras on our phones, it is enticing to DIY your photos but remember, a remarkable 95% of homebuyers are searching online for their next residence. High-quality photos can effectively communicate with potential buyers. Consider hiring a professional photographer to capture your home in the best light.
Here is where you can be creative. Make a flyer to share with your neighbors and host a neighborhood open house. Place a sign out front and advertise your home for sale, as well as place an advertisement online.
Showing your home will require a work schedule and keeping it in show-ready condition. Effectively showing your home is crucial for a swift sale. It's essential to vet potential buyers thoroughly. Inquire about their timeline, qualifications, and lender details. Allow them to tour the property freely, giving them the space to explore. Don’t forget to request their feedback!
Yes! When you reach the contract phase, consider hiring an attorney or a real estate expert to assist you with the paperwork. Be sure to pay close attention to the dates and terms involved.
If you are considering selling and you are entertaining the option of selling the home yourself, talk with an agent. Learn what they can do to sell your home. I would be honored to speak with you and for your time, you will receive a FREE FSBO Tool Kit. This kit will include a free professional FSBO sign and stand and other marketing pieces. To get your free kit complete this Homeseller Survey.
Remember FSBOs typically sell for less than the selling price of other homes; FSBO homes sold at a median of $310,000 last year, significantly lower than the median of agent-assisted homes at $405,000.
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