Follow These Four Suggestions if You Want to FSBO Your Home

Selling your home without a real estate agent may feel like a daunting prospect, but it’s actually a lot easier than many assume. However, that’s not to say you don’t have a lot of work when undertaking the for sale by owner (FSBO) process, as you are taking on all the roles and responsibilities that a real estate broker would.

If you’re looking for advice on how to do this successfully, follow these four suggestions to successfully FSBO your home:

1. Get the right pricing through extensive research

Finding the right price for your home is one of the most important aspects of FSBO, as you don’t want to have too high a price that deters buyers, makes similar houses seem more attractive, and run the risk of mortgage rejections post-appraisal.

So, it’s important to take the time and research the market value of your property and neighborhood. A simple way to do this is to check properties similar in size to your own as well as those that are located nearby, while you should also talk with new buyers and sellers in your area.

A rule of thumb is to price around five to ten percent higher than the average property you research, as this should get you offers that are close to the real value of the property. Also, consider things like overall size (in square feet), attractive fixtures and features in the home, and nearby amenities and services that may increase the value.

2. Consider Hiring a Lawyer

Now, some may feel this defeats the point of doing FSBO, but hiring the services of a real estate lawyer is very worthwhile. Yes, it’s an expense you may be trying to avoid, but they can be invaluable when it comes to the various legal processes of selling your home.

Not only can you delegate the more complicated matters of the sale (namely real estate contract conditions), but they can also offer advice on mortgages and leases, and review important documents and contracts.

Remember, you’re already saving money from not hiring a real estate agent, so it’s a great idea to spend some of the money saved on a quality lawyer – it will make your life much easier during the FSBO process.

3. Know Your Marketing

There are various ways to market your home to potential buyers, so be sure to take advantage of as many as you can. Listings in local papers, advertising online, holding open house showings – these all allow you to market the property to the right type of people.

Ensure the advertising copy is short yet descriptive, avoiding all fluff yet still sound very appealing to a buyer. Include details about important parts of the home, such as number of bathrooms, recent remodelling work, yard space etc.

4. Make Sure the Property Looks the Part

First impressions are very important when it comes to selling a property, so you want to ensure your home has a real wow-factor to anyone stepping through the door.  There are many quick and easy ways to achieve this look, such as removing all clutter, giving a quick repaint (preferably with light, airy colors), and completing any minor repairs.

Consider adding a few plants to each room, removing some furniture (people like to imagine their own space rather than see yours), and adding pleasant smells (e.g. candles, flowers). Ask a friend or neighbor to go through a mock walk through like a buyer would, as it’s good to get another perspective on the overall aesthetics of the property.

Inland Empire Escrow  provides escrow services for a diverse variety of real estate transactions.  With offices in Chino CA and San Bernardino CA, we quickly and professionally service all the surrounding cities such as Chino Hills, Ontario, Rancho Cucamonga, Upland, Riverside, Redlands, Colton, Grand Terrace, Yucaipa, and more.  To hear more about our escrow services for residential, mobile home, short sale, REO, bulk/business sale, 1031 Exchange, or agricultural escrow, contact us today at (800) 917-9387.