5 Tips for Selling FSBO Listings
You’ve done your research and you’re ready to take on selling your house on your own. Now, the next step is safeguarding that you list your home successfully and protect both yourself and your assets during the sale process. Here are 5 tips all FSBO sellers should keep in mind.
1. Don’t overprice
An overpriced home is difficult to sell with a real estate agent, and even more difficult to sell on your own. You can determine the suitable price by researching recent comparable home sales in your area and seeing what they sold for. Keep in mind location, home size, and home quality when determining what can be considered an appropriate comparable. If you don’t mind spending a little bit of money, you can also hire an appraiser to let you know your home’s fair market value.
2. Put together a high-quality listing
Many times, a listing is your home’s first impression with buyers. If your listing doesn’t have a description, photos are lacking quality, or no photos at all, you will lose buyers before you even have them. Take the time to perfect your listing so that you’re not harming your potential sale from the very beginning. You can hire professional photographer to take photos of your home for you if you don’t have experience, and put lots of details into your listing. Have a friend take a look at it to point out any typos or areas that need more information.
3. Be completely honest in your disclosures
If the house is going to need a new plumbing system or there’s water damage under the carpet in the basement, you need to disclose these to potential buyers—even if you don’t want to. Believe me, if you don’t, it may come back to bite you. Sellers are required by law to reveal any known defects in the property, and a failure to do so could get you into some serious legal trouble later on.
4. Don’t turn down a showing
Say “yes” to everything and no to nothing. I’ll repeat, say yes to everything and no to nothing. You never know when that showing will turn into a buyer. Availability is just as important as marketing, since a buyer may not be willing to wait around. With FSBO, you need to jump on every opportunity that you get, which means planning your schedule around showings and not the other way around. It may not always be convenient for you, but it’s a big part of getting your home sold.
5. Find a good real estate attorney
Have at least one professional in your corner who you can really trust to negotiate for you and protect your interests. It’s best to hire an attorney early on so that you can be sure to avoid any legal drawbacks during the FSBO process. You will have to pay out fees to them during closing, but it’s definitely going to be money well spent.