10 More Tips For Selling Your Own
by Steve Gillman
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
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,
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
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
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.
About the Author
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