When people sell a home, many will just default to selling with an agent or broker’s help. While it is a decent option, it is far from the only option available. Others will instead opt to list their home FSBO (for sale by owner).
Thankfully, selling your home on your own doesn’t mean you don’t have support options. In fact, many sites can assist you in some aspects – like marketing the home. Check out this link to learn more about them: For Sale By Owner Websites Reviewed! Who’s #1 in 2020?
Of course, while the help is great, it is still ultimately up to you to sell your home. To help you, we have decided to provide and go over a couple of different tips to assist in selling your home without an agent.
Know and Set a Realistic Price
One of the biggest mistakes you can make when selling a home (with or without an agent) is pricing the home wrong. If you price the home too low, you may not get as high a profit as you deserve. On the other hand, if the price is too high, you will have difficulty gaining interest in the home. You need to choose a fair price for what a buyer is getting out of your home.
To set the right price, you need to do some research. You should know the average price of homes in your area and what buyers are looking for. Also, be realistic about the home vs. others in your area. You might be a bit biased and think that yours is the best, but it is important to be honest with yourself and your potential buyers.
Create a Strong Listing
With many people starting their home-buying journey online, you need to know how to create a good listing. Your listing will generally be the first thing people see about your home, so you need to make a good first impression. A strong listing leads to more interest from buyers, which significantly increases your chances of a timely sale.
Your listing should include several high-quality photos, a list of the features, any recent additions or renovations, number of rooms, size of the home, and anything else you think would be of value. While your listing should make the house look good, it’s important not to lie or hide anything in the listing. Buying and/or selling a home should be an honest exchange.
In addition to creating a strong listing for your home, you also need to be sure to advertise it. Consider posting about it on social media, and potentially even get a video made that shows off your home and the many benefits and features it includes. You can advertise it on your own, but can also work with some of those FSBO sites mentioned above to increase the reach that your listing can get.
Brush Up on Your Negotiation Skills
It would be lovely if someone offered you your listed price, but that isn’t often the case. Many buyers will start off offering a lower price and the two of you will need to negotiate. When you work with an agent, they will handle some of the negotiations, but it is all up to you with FSBO. Because of this, it’s smart to work on your negotiation skills a little.
Know the right time to haggle, the right time to hold steady, and always be professional. Negotiations can be tense, but it is essential to stay calm and have an idea in your head of what you want, and what you might settle for. Going through mock negotiations with friends or family could also be a good idea. Also, be patient. If you try to rush the negotiation or another part of the process, you could find yourself on the losing end of the deal.