Does for Sale By Owner = Save Money by Owner?

Published on this site: June 28th, 2006 - See more articles from this month

1. Most Home Sellers Turn to Real Estate Agents
   
   Although many FSBO home sellers have saved thousands of dollars in commissions, many others have lost money, and statistics show that 80% of FSBOs will eventually list their homes after unsuccessfully trying to sell their homes themselves. However, if you're thinking of trying to sell your home without the aid of a real estate agent, here are a few tips for getting the most from the experience:
   
   
2. Leave Your Emotions Out of Your Sales Process
   
   Selling your home often can be a painful experience, so it's important to emotionally detach yourself from your house and try to think of it as an investment in your future. Try not to be affected by unkind remarks you may hear from prospective buyers trying to get you to lower your price by attacking various features of your house. And although you should call your house a "home" to prospective buyers, think of it as just a "house."
   
   
3. Set the Right Sales Price
   
   Of course, you want to get the highest price possible, but pricing your home too high will keep it on the market too long, which will lead people to think there's something wrong with your house. Look at the other homes being offered for sale in your market and compare them to yours, in terms of square footage, number of bedrooms, lot size, and other features that are similar to yours. Be objective, and then price your home according to your findings. You might consider setting a price range, instead of a fixed price, if you're considering helping potential buyers with their closing costs.
   
   
4. Advertising
   
   
   • Signs: Pick up directional signs at a home improvement store, list your phone number and the address of your home on them1, and then display the signs in prominent places around your neighborhood. Most buyers use the services of a real estate agent to look for a new home, but if your home's in a desirable neighborhood where other houses are also for sale, potential buyers may see your signs and come back later to visit your home. Place a professional-looking sign in your front yard, featuring your phone number in print large enough to be easily read from the street.
     
     
   • Flyers: Think like a marketing guru and create a sizzling sales flyer, listing all the benefits and features of your home.
     
     
   • Newspapers: Pick up copies of all the newspapers and advertisers in your area, and look at them, imagining that you're the one looking for a home in your area. Then create an ad of your own, copying ads that most attract your eye. Make sure to list benefits to potential buyers and not just the features of your home.
     
     
   • Showing and Safety: Ask prospective buyers for their phone numbers before you give out your address over the phone, and then call them back to verify the information. Also, make sure to have someone with you when you're showing your home to strangers.

Selling your home yourself should mean that you save money on real estate fees. But if you're not a savvy salesperson, you could actually make more money and sell your home faster by hiring a go-getter real estate agent.

Jeanette Fisher - http://www.jeanettefisher.com teaches home sellers five ways to make more money with home staging and advertising psychology. Free Home Sellers Teleseminar http://sellfast.info