Selling Your Own Home: 10 More Tips

Selling your own home can be a time-consuming and frustrating process. Sometimes, though, in the right market, it makes sense to save thousands of dollars in commission and do it yourself. If you've decided to give it a try, use the tips here to do it right, and to avoid common FSBO (for sale by owner) mistakes.

1. Understand value. It isn't what you think your house is worth, and it doesn't even matter how much you put into it. It is only what it's worth to potential buyers. Find out what they have paid for other similar homes before you decide on a price.

2. Be objective. This is a difficult one. You may want to get your most honest and outspoken friend to walk through the house with you. He'll see problems you didn't know were problems.

3. Have a plan. What will the kids or wife say to those who call? Where will you be closing? Will you have documents prepared by an attorney? A plan will help it all go smoother.

4. Make a list. What needs to be fixed, cleaned, changed, or removed? Do the most obvious things first.

5. Be a prepared salesman. List every question a buyer might have, and be ready with an answer. Have comparison sheets showing other home sales, so buyers can see the value. Have a map showing where nearby stores and libraries, etc. are.

6. Sell benefits. Don't say "near stores." Say "You can walk to the store in five minutes." Don't say "garage." Say "No chipping ice off the windshield in the morning."

7. Have all important information in ads. Square feet, number of bedrooms and bathrooms, address, telephone number, and price. Leaving out the price means some buyers just won't call, and you'll waste time with others who shouldn't be calling.

8. Listen to buyers. The biggest mistake sellers make talking to buyers is to get defensive about their home. Listen to criticisms, and resolve them or ask how important the issue is to the buyer. In other words, learn a little about selling.

9. Be careful with the sales agreement. Be sure that it is understood by both sides. What happens, and when? What if the buyer doesn't get their financing? What's included in the sale? When will the buyer take possesion? Who pays the closing fee?

10. Make closing easy. Have the documents all ready to sign. Be prepared with answers to likely questions. This is likely the largest financial transaction in your buyer's life. Make him comfortable.

There is a lot more to selling your own home than can be covered in ten tips, of course. Use these however, and you'll be doing better than the average FSBO seller.

Steve Gillman has invested real estate for years. To learn more, and to see a photo of a beautiful house he and his wife bought for $17,500, visit http://www.HousesUnderFiftyThousand.com

---

New Housing Starts Do Not Guarantee Aftermarket Sales

We have been studying a trend of new home buyers... Read More

Investment Real Estate: An Inexpensive Way To Get Started

If you are considering getting involved in investment real estate,... Read More

Equity

Equity is the value of your home minus what you... Read More

Selling a Home ? What Personal Property Stays?

The home selling and buying process can be confusing, particularly... Read More

Real Estate Remains A Strong Investment

Opportunities to make big, quick profits in residential real estate... Read More

Miami Property Booming for Foreign Investors

Miami tourism is growing and so is the Miami property... Read More

Real Estate: The Consumers Will Have The Final Word!

"The first step toward change is awareness. The second step... Read More

Coming to Las Vegas ? the Las Vegas Real Estate Boom

Nobody seems to be 'Leaving Las Vegas' anymore ? in... Read More

Should you Sell your Home yourself?

Should you sell your home yourself? Yes and no. Yes,... Read More

Land for Sale

Think owning land would cost a fortune? Think again! While... Read More

Odors Can Make or Break The Sale of Your Home

It's amazing how important the sense of smell is to... Read More

What are the Top 11.5 Criteria for Selecting an Orlando Investment Property

1. Make sure units are larger than 1800 square feet.This... Read More

18 Easy Steps to Buy a Bargain House

What is a "distressed" property? What is "bargain" real estate?A... Read More

Trading Inspectors!

As sure as the spring flows at the Fountain of... Read More

Regarding Real Estate On Leased Land

1.Why are there so many properties on leased land?There are... Read More

Why I Love Country Living

As somone who has lived in both places, I can... Read More

Personal Debt Can Disappear When You Set up a New Business

I teach students how to set up a new business... Read More

Buying A Holiday Home in Rural Ireland

Ireland has recently witnessed an upsurge in the number of... Read More

Curb Appeal

First impressions do make a difference when selling your home.... Read More

How to Become a Successful Real Estate Investor

Many folks dream of becoming real estate investors, but not... Read More

Buy to Let Property Investment

In recent years buy to let has been a popular... Read More

Real Estate Appraisal - Rental Properties

Real estate appraisal for rental properties isn't the same as... Read More

Attention To Details Helps Homeowners Sell Fast In A Buyers Market

Your boss has just given you the career opportunity of... Read More

Timing Is Everything When It Comes To Buying Homes

The old adage that "timing is everything" especially applies to... Read More

Selling Houses: Cutting Edge Design Tips for Selling

In this article, you're going to discover new techniques for... Read More

Is Housing and Real Estate Bubble Hype Irrational Exuberance?

Not so, says the author of this article and four... Read More

What Does It Take To Be A Donald Trump in Real Estate?

Since you are a business oriented person, you might be... Read More

Real Estate Season is Here

Yes, it has finally arrived. This is the time of... Read More

Content Ideas for Ads and Brochures When Selling Your Home

Even in this hot real estate market, selling your home... Read More

Purchasing Land: What To Look For

It doesn't take long to realize that finding the right... Read More

Planning for Real Estate with Estate Planning

One of the most important considerations you will need to... Read More

Property Investment Strategy: Securing Properties with Little or No Deposit

Property Investing often requires creative strategies to make it successful.... Read More

How To Find a Real Estate Agent

You may be of the opinion that you don't need... Read More