"Ten things you must know to sell your home yourself."

#1 Invest Your FSBO Savings into
Marketing Your Home

When you sell your own house you save lots of money on brokerage commissions. Pass the savings on to your buyer by lowering your price, use the extra money to fix up your house so it looks better and has more equity, or put it into newspaper advertising. Those who reinvest their savings back into the marketing of their property have an added advantage.

#2 Plan Ahead and Focus on the Details

To sell your house – especially while you and your family are living there – requires some planning so that you can minimize the inconvenience while maximizing the chances of a successful sale. Details matter, so if your house number is not visible from the curb or if your porch light or doorbell is not functioning, go ahead and fix those problems before buyers arrive.

#3Create a Take-Away Sheet

Some hardworking buyers will browse as many as two dozen listings in a single day, and they may forget which was which. Make sure they remember yours by giving each potential buyer who visits your home a flier that lists the highlights of your home, your contact information, and a photo or series of photos of the house. Pictures are worth a thousand words, and when it comes to FSBO sales, they are also worth thousands of dollars.

#4 Clear Out the Clutter

People buy houses based on their size, and the more you clear out closets, the more square footage your house will display. Crowded rooms, stuffed attics, and messy garages are a turn-off because they shrink the visual space of the home. The bigger your home looks, the more valuable it appears to be.

#5 Illuminate the Features

When showing your home, open the curtains and turn on the lights. Flattering lighting makes a home look its best, and the more you illuminate rooms, the larger and fresher they look. The same goes for outdoor areas such as the entryway or patio. Many buyers browse for homes in the evening after work, so light up your listing and soon the phone will light up with calls from prospective buyers.

#6 Great Scents Make Good Sense

People shopping for homes make emotional choices regarding which house to buy, and how your house smells can make or break the deal. Cat litter boxes need to be emptied before each showing, wet towels shouldn’t be left to mold on the bathroom floor, and if you’ve just painted a room and the scent of fresh paint lingers, don’t worry – fresh paint smells good when you’re shopping for a home.

#7 Control the Pets

Have a friend or family member take the dog for a walk while you show the home, or put the kitten in a carrying case out in the garage for the time being. It only takes a few minutes to show a home, and if you don’t have to worry about accidentally letting the pets escape into the street during that period of time you can concentrate on the business at hand.

#8 Spruce Up the Kitchen and Bathrooms

These two rooms add the most value to your property, so paint them if they need it and give them a deep cleaning. Replace or repair broken fixtures and appliances, because the cost of buying new ones is probably cheaper than the price you’ll pay if you lose a qualified buyer because of a pesky leaky faucet.

#9 Get a Second Opinion

Get someone to critique your home and point out things that they would find troublesome if they were shopping to buy a house. A friend who is a contractor or a co-worker who used to sell real estate may provide valuable insight and point out things that you might have accidentally overlooked.

#10 Relax

Many FSBO sellers get so stressed out about selling their own property that they quickly exhaust themselves. Take a deep breath enjoy the process, knowing that you’re learning valuable new skills while saving yourself significant amounts of real estate dollars.

The key to a successful FSBO listing is to attract qualified buyers and then be prepared to complete the sale. First impressions count, and sometimes opportunity – in the form of a qualified and interested buyer – only knocks (or rings the doorbell) once. Those FSBO sellers who plan ahead and follow an intelligent 10-point strategy can greatly improve their chances of completing a smooth transaction in the least amount of time, at the best possible price.

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By Mark Deaton
Copyright 2007 THSK.