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General Tips
Written by ForSaleByOwner.com   

Woman holding a sold sign.If you’re looking to sell your home fast than here are some tips and guidelines to help you through the process.

 

Price it right. The number one thing that will sell your home fast is the right price. If you price it right, it will sell. If you price it wrong, it won't sell.
A good starting point is to research the current market and choose a fair price that will both benefit you and attract the largest pool of buyers. Our ForSaleByOwner Pricing Reports can be a good first step in pricing your home.

Obviously you want to net the most you possibly can for your home and that is why you are choosing to sell without an agent in the first place. However, if you’re looking to sell your own home fast remember the biggest mistake sellers tend to make is to overpricing. Therefore, if you’re looking to sell your house on your own and sell fast, it can be a good idea to subtract a good portion of what you would have normally pay in real estate commissions from your asking price.

Strategic planning is required on your part. Ideally, your asking price should take a number of things into account. Keep in mind prospective buyers are aware of the fact that you are selling by owner, they will know that there is no broker’s commission involved. Most buyers will usually opt to buy FSBO because they feel like they are getting a better deal. For example, if the going price for homes similar to yours in your area is $300,000, this is NOT the price you should be asking. A home selling for $300,000 through a broker will net the owner (after an average 6% commission) $282,000. $18,000 would go to pay the broker’s fee. Therefore, if you are able to secure a price of $282,000 on your own, you will be breaking even. In fact, if you were in a rush to sell your home you’d be ahead of the game. Your home would most likely have sold quicker, given your lower asking price, giving you something greater than substantial profit – peace of mind.

If you are not in a major rush to sell your home your best bet is to determine a price somewhere between the average listing price and the amount netted through a broker sale. For example, a safe bet would be to price the home around $295,000, because if you manage to get an offer of $290,000 to $295,000, you are still netting between $8,000 and $13,000 more than if you’d used a broker. Not a bad deal for a novice salesman!

Staging: One of the ways to ensure that your home is sold sooner rather than later is to take part in a new trend known to real estate agents as “staging.” Staging is simply showcasing your home in its best light—and can range from simply sprucing things up to hiring a professional to come in and decorate. Since you’re selling your home yourself, you’ll probably want to take the do-it-yourself approach to staging.
One of the first things you should do when getting your home ready for sale is to depersonalize it. Purchasing real estate is a largely emotional decision and you want to do your best to make your house evoke feelings of “home” to potential buyers. Therefore, it is important to showcase your home as a clean slate where a new family can begin to create their own memories. Try not to have an abundance of family photos displayed around the house, as well as sports trophies, collectible items, and souvenirs.

The next step is to make sure the house is free from clutter. This is often the hardest part for most people since there is an emotional attachment to everything in the house. Unfortunately, potential buyers will not have the same sentimentality attached to their buying decision. They may view the clutter as reflective of an unkempt house or worse. The best way to begin is to seek the advice of a trusted friend or family member, since it is often hard to be objective when it comes to your own things. Ask them for their opinions on what would detract from the house if they were a potential buyer.

The following are some of the things you may want to look out for:

  • Kitchen Clutter: too much kitchen clutter, try and make sure to clear the countertops as much as possible.
  • Closet Clutter: unorganized closets with things just thrown or jammed in.
  • Furniture Clutter: namely too much furniture in not enough space! When you fit several pieces of furniture in one room for your personal living needs, it tends to shrink the size of the room. From an aesthetic standpoint, the room appears small and cramped. The less furniture you keep, the more appealing your home will be to potential homebuyers.
  • Storage Clutter: The ultimate culprit, when it comes to clutter always tends to be the “storage rooms,” such as the basement, the garage, or the attic. “That’s what they’re meant for,” we reason with ourselves. However, when selling a home, it is essential to leave these areas as empty as possible so the buyers can envision what they would do with the space. A garage sale or engaging the services of QuikDrop.com is a great way to rid yourself and potential buyers of unsightly junk.
  • Getting unbiased advice: The biggest mistake you can make at this point is to rely solely on your own judgment. Don't be shy about seeking the honest opinions of others. You need to be objective about your home's good points as well as bad.
  • Quality Counts: Up to 74% of homebuyers start their search online, according to the National Association of Realtors. Indeed, the Web has become one of the most important marketing tools for selling your home.

If you want to attract a buyer, start by catching their eye! We’ve all been told not to judge a book by its cover, but first impressions count! Before a buyer ever makes it to your front door, the first introduction they’ll have to your home will probably be the picture you’ve included with your advertising- on your internet listing or in a brochure. It pays- literally- to photograph your home in its best light.

Hold Open Houses: The benefits of an open house are debatable. Industry experts agree that they tend to benefit realtors more than home owners. (After all, it's a great way for Realtors to get new clients.) But that doesn't mean that they can't work. The key is to hold them at various times of the day and week so that folks with busy schedules can squeeze in a viewing. Make sure to schedule open houses on Saturdays, as well as in the evenings during the week so people can stop by after work.

Incentives: Offering incentives sometimes can also help shorten the sales cycle, but be careful. In many cases incentives don’t always do the trick. Remember there is a fine line between wanting to sell a house quickly and having it look like it's a fire sale. If prospective buyers get the idea that you're desperate to sell, they will try to get you to accept a bargain-basement price so try not to let on that your looking to sell your house fast.

Keeping to yourself: It’s very important that you keep the reasons you are selling your home to yourself. Whatever your reasons are for selling your home, remember they will affect the way you negotiate the sale. So keeping this information to yourself you won’t provide any ammunition to your prospective buyers. For example, should they learn that you must sell quickly; you could be placed at a disadvantage when the negotiations begin. When asked “why are your selling”, simply say that you’re housing needs have changed. Remember, the reasons you are selling are only for you and only you.

Don't get distracted: What about those "we buy homes for cash fast" advertised on the internet, billboards and late-night TV? Sure you’ll sell your home fast, but it will go extremely cheap, probably at a price that really won't make you too happy. Usually they’ll buy your home for 70% of its current value.

So when its time for you to sell your home give us a try and click on the following link sell my home, and we’ll help you sell fast and save thousands!

Your free eBook: take advantage and download your free e-book and learn how to sell your home for sale by owner and save thousands! In this free comprehensive guide, you'll learn everything you need to know to successfully sell your home on your own.

 
 
 

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