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FSBO Sell your Property Yourself

By Edited Nov 13, 2013 1 2

Hiring a broker to sell your home could be expensive sometimes, and if you want to save out on that expense then why not try to sell it yourself? There are only a few easy steps required to do so.

The first step you should take when selling your home by yourself is to put up a "For Sale By Owners" sign in front of your home. This sign, which is commonly referred to as the FSBO sign will provide a chance to the passer by's that this piece of property is up for sale. This way anyone passing by your house would know that it is being sold. Moreover if you manage to sell your house through a FSBO sign, you have managed to save tens of thousands of dollars that would have otherwise gone to the broker as his/her commission. On the flip side, it is sometimes seen that mostly houses this way go to the brokers, but this necessarily needn't be the case if you follow these few and simple tips at hand.

Another important aspect that needs to be kept in mind is that when using the FSBO sign to sell your home, it is normally expected that you will have to share your savings that you get by not getting a broker with the buyer. Therefore it is seen that FSBO-sold homes go for a price that is below that market value. Thus it is necessary that you price your house competitively.

If you are confused as to how the pricing should be done, then you should envision yourself as the buyer and reverse the roles. You could even go visit homes being sold via a FSBO signboard so that you are aware of the mechanism of the entire process. Moreover this would help you in setting up a price for your own house as well.

Appearance always does count, whether its humans or non-human things. Similarly it is simply good marketing to make your house look new and aesthetically pleasing. If any repairs need to be done, make sure that is taken care of. A new paint job or fixing up the yard or garden all add up to the aesthetics and make the house look beautiful and inviting.

Also be creative and gear up the marketing efforts behind your house. You could play with the FSBO signboard and use flashy colors, pictures etc to make it attractive and distinguished. Or if your budget allows, you could even put up an advertisement in the local newspapers, or even make flyers and put them up in public places. If you do choose to go for any of this, then make sure that your phone and answering machine are functioning properly and keep a check on them so as to not miss on any client. Anything that you do to make your house go public yourself furthers you away from the broker!



Apr 19, 2011 1:07pm
Good tip about visiting FSBO homes to gain insights on how to do yourself.
Dec 31, 2011 10:27am
I've helped people do this a few times. One thing to be prepared for are the realtors who try to tell you all sorts of scary things, like what you are doing is illegal. It is not, but there are some who will try to scare you into getting a realtor.

Other than that, it all went very well in all cases. They used an attorney for the actual closing. Still came out way ahead financially in all cases.
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