FSBO - Be Prepared to Be Successfull

by Rick Hendershot, Linknet Publishing Network

So you want to sell your home without a real estate agent. Like hundreds of
thousands of other homeowners, you've chosen this option because you don't
want to pay those large commissions to an agent. As many who have tried it
in the past will tell you, selling your home on your own can be challenging.
But the best way to be successful is to be prepared. Do your research and
get your hands on as much expert information as you can.

Follow up:

1. Prepare Yourself to Become a Seller

Read all you can about selling your own home. If you are listing with an
online service such as allstatesfsbo.com, be sure to get as much selling
information from the site as possible. They will often have articles and
reports on how to prepare your home, how to set a reasonable price, how to
hold an open house, what happens at closing and much more.

2. Prepare Yourself With All Necessary Legal Documentation

When selling your home, there are many important legal contracts and
documents you must assemble, complete and understand. Here is a partial
checklist of forms that you may require for prospective buyers and for legal
documentation:

- Mortgage Payoff
- Loan Application
- Deposit Receipt
- Property Profile Fact Sheet
- Buyer's Cost Sheet
- Closing & Settlement
- Personal Property
- Exclusion List
- Property Survey
- Sellers Statement /Plot Plan of Representation
- Consult available online sources for further information about the legal
forms necessary to complete your transaction.

3. Prepare Your Home for Sale

First impression is crucial. Make sure your home makes a positive statement
by carefully inspecting all details and viewing it through the objective
eyes of a buyer. Don't gloss over needed repairs and fix-ups, as your
prospective buyers won't. Your job is to ensure that your home stands out
favorably from the competition. You may also want to get a professional home
inspection done and take care of any problems it reveals. This is the best
way to avoid surprises and alleviate any concerns your prospective buyers
might have.

4. List Your Home with a Credible FSBO Web site

The first place most prospective home buyers look for real estate listings
is the internet. Find a credible FSBO web site that will give you a detailed
listing for a reasonable price. Some services such as allstatesfsbo.com will
even list your home for free. Be sure the site you list with offers the
following services and features:

- Detailed listings that allow you to upload photos
- Listings that are searchable by price, location, features
- Lots of Current Listings
- Seller Resources - to help you sell your home
- Buyer Tools - to help FSBO buyers
- Mortgage Information

5. Market Your Home Effectively

Beyond your online listing and the sign you put on your lawn, you should
find effective ways to spread the word about your home. Local buyers can be
reached through the newspaper, but this is only a small part of the market
you are after. Be sure you include the many buyers who could already be
working with a Realtor. To locate them, target as many top agents as
possible in your market to see if your home might be a match for some of
their buyers.

Your online listing will reach many out-of-town buyers. It is important to
be very service minded and make it easy for pre-qualified buyers to view
your home. Ensure that there is always someone available to answer the
phone, pick up messages promptly, and be ready to give qualified prospects a
tour of your home as soon as possible.

6. Do Not Price it Too High

The number one reason that most FSBOs are not successful is that the owners
set the price too high. Home prices are determined by fluctuations in the
marketplace not by your emotional attachment or by what you feel your home
is worth. This is actually one of the useful services that a real estate
agent can provide -- helping you to be objective about the price. Since you
are choosing to be your own agent, it is important to be just as objective
about the pricing of your home.

The importance of pricing your home correctly cannot be overstated. Consider
that in any given real estate market there is a relatively small number of
prospective buyers who might be interested in your home. They have been
looking around at alternatives, and they usually know what kind of pricing
to expect. If you lose their interest within the first few weeks, you are
not likely to get it back later. The only thing likely to bring them back is
the possibility of a lower price. And since they know your home has not had
any takers, they will probably assume they can squeeze you for an even lower
price.

In order to establish a realistic price for your home, objectively compare
the price, features and condition of all similar homes in both your
neighborhood and other similar ones which have sold in recent months. Be
sure to compare the terms of each potential sale too because these are often
a deciding factor in real estate transactions.

If you are not prepared, or have not properly done your homework, you may
have a difficult time attracting and getting offers from qualified buyers.
This makes many homeowners give up in frustration. However, it is possible
to successfully sell your own home. Thousands of home owners do it every
week. And you can too.

Go to AllStatesFSBO.com for more
information about For Sale By Owner, and for FREE LISTINGS.

Rick Hendershot is a writer and publisher of the Linknet Publishing Network featuring
article writing and distribution and Power
Listings to promote your products or services.