Category: FSBO

The Facts About For Sale by Owner Homes

  • By Householders Guide
  • 9th May, 2011
For Sale By Owner

Although the market place has steadily decreased in for sale by owner homes, there is still a small spectrum of hope for those who wish to avoid using an agent to sell their homes.

Whilst the figures show that homes sold by their owner do generally go for a lower price, there are still many advantages to marketing your own home and selling privately. They may not all seem obvious at first, but given a little research, you will start to see the benefits of selling your own home become more apparent.

The first thing that you would need to do in any situation is to get your property appraised. This will give you an accurate market value of your home. Simply looking at similar homes in your area could give you a basic idea, but in the end, you might find that subtle differences from one house to the next can greatly affect value. The state of fittings and fixtures for example, could greatly affect the overall price that your property is valued at.

Most of the for sale by owner homes that fail and end up using an agent do so through lack of research into the market and bad execution of selling tactics. You must remember that if you use an agent, you are paying them to do the marketing and selling of your home for you. So if you choose not to hire an agent, then you will have to do all of this for yourself.

Effective planning will only get you so far. It is the execution of your plans that will truly decide whether you will fail or succeed. Although it may seem like a simple process, selling your home is by far one of the most complicated things to do. A car for example is pretty easy to sell. You can simply look at other models in a similar specifications bracket, set your price, and advertise online or in trade section of your local newspaper. Whilst the trade section is a useful tool for private home sellers, you will need to make any advertising you do that extra bit special.

If it is possible, get some advice form a friend or member of the family that has sold a home privately before. This will help you avoid the nasty pitfalls that a seller of any kind must face. Any advice you do get, make sure to write it down! There is nothing worse than finding yourself in a situation and feeling there is something you should be doing right now.

So even though for sale by owner homes are not as common as they used to be, it could still be a worthwhile venture for you. Homes sold by agents typically do sell for more money, but you will have to weigh this increased sales price against the cost of hiring the agent in the first place. Again, research and planning will be your two best friends when it comes to selling your home on the private market place.

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