Are you considering selling your house by yourself? If you've started your research, you probably know by now that it's more than just putting an ad on Zillow. Selling your house on your own, in real estate terms, is called FSBO (for sale by owner) – meaning everything about the house sale is handled by the owner directly. Sure, there are challenges to it. But it’s better to be informed of what you're getting into so you know what to expect.
In today's episode, we walk you through the steps it takes to get your house ready for the market, set and negotiate the selling price, and get it sold all by yourself!
- The first step is getting a new phone or phone number. Because you're going to get a lot of calls from buyers, and you want to be able to track that and shut it off if necessary.
- You're going to have to make time to answer all buyer calls.
- On the preparation front, make sure you've taken into account the landscaping, cleaning, remodeling, renovation, and repairs.
- Go through your area's listings to ensure your preparation matches the standards of houses in your area.
- Think about your marketing plan. Decide on the kind of photography and videography you need, how you plan to make the exteriors look, etc. Think about the marketing channels and methodologies you'll use to position your house as attractive to potential buyers. Almost 90% of people find your house initially online. If your photography is bad, you're not going to get the kind of showings you want. Hire a real estate photographer to get proper photos of your house taken.
- The way you price your house is part of your marketing.
- Take into account the money you have to spend on the sale, including marketing and attorney fees.
- The home staging part is huge – it involves preparing your home for sale to appeal to the most significant number of potential buyers who are also willing to pay the highest price.
- Do your research before pricing your house. Underpricing and overpricing are both big potential no's.
- Decide who and how you're going to make your lockbox available to.
- Get information about the buyers coming through for a showing. Ask for their basic details, like their driver's license when allowing them to come to your house.
- Ask all necessary questions to their lender about their qualifications and credit.
- Don't just go for the best price; go for an offer that's the best for you and your house.
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