Find out if a For Sale By Owner listing is right for you.
America, America. The land of the brave and the home of the free! Full of independent, do-it-yourself ingenuity and determination.
Is America truly that different? Yes! In fact, in many countries, For Sale By Owner isn’t even an option! Here, you have the potential to save big bucks by rolling up your shirt sleeves and doing it yourself. If you’re looking into FSBO, Rocket Realty is here to help.
7 Steps to Nailing A For Sale By Owner
Identify your needs. Are you selling a small vacation home for under $100,000? Or are you selling a several-million-dollar estate? Forbes points out that, in the first case, the money you might save on commission by selling FSBO is negligible. In the second, many buyers do not want to deal directly with the owners (not to mention the complications that come with an estate of that size changing hands). Between the two, however, is a wide middle range. If you are in that middle range, For Sale By Owner could be an option.
Clean up. De-clutter and deep-clean the property, changing any squeaky hinges and polishing the doorknobs. A fresh coat of paint goes a long way. This also applies to the outside of the property: well-manicured landscaping is proven to significantly reduce the time a property stays on the market.
Plan. Planning isn’t everyone’s strong suit, so make sure you have someone on your For Sale By Owner team who is up to the task and can help to organize your vision of how long you want to leave the house on the market, when/if you will call in a professional, and the amount you’re willing to negotiate on your asking price.
Set the Price. An appraisal and a home inspection will help you to identify the worth of your home as well as any problems that might affect the time it spends on the market or that could even be a deal-breaker for potential buyers. The key here is to set aside emotional attachments. The more accurately-priced the property, the more quickly it will sell, and the less time you’ll spend trying to sell it. Time = money.
Advertise. Promote your property online, with house signs, in newspapers–anywhere you can. When you take pictures, remember to do it at a time when there is a lot of light (preferably in the early morning or late afternoon, for the most inviting results).
Consider an MLS listing. Although this means you’ll have to pay the Buyer’s Agent Commission (which is a 1%-3% commission), the upside of an MLS listing is that local REALTORs and real estate agents can see your house, and bring in buyers who are using an agent.
Clear Your Schedule. Prepare to spend your weekends and holidays showing your property. If you’re up to the task, you can save thousands of dollars on commission!
And if, at any point, you need help, don’t hesitate to call Rocket Realty. Our real estate brokers want to make your FSBO a success. We offer a full range of A La Carte services, including MLS listing, helping with the title papers, showings, etc.
Because we believe in America, and we believe in you.
For Sale By Owner | FSBO