Selling Your Own Home Online

Nearly 80% of those who bought a house last year started their search online. If you’re selling your own home, an online For Sale By Owner (FSBO) site is nearly a must. According to realtors, most people who browse FSBO sites will view at least one house that they first saw online – and about half will purchase a home that they found in an online selling your own home web site. Knowing that, how can you not take advantage of all the new selling techniques available to those who are selling their own homes?

What sort of selling techniques are available to you if you’re selling your own home online? Depending on the site, you can literally have a 24/7 open house – without ever opening your front door. With photographs, multiple listings, virtual tours and floor plans, you can literally allow prospective buyers to tour your house without ever leaving their own homes.

There are several different ways to go about selling your own home through an online FSBO web site. Your best option is to contract with a local real estate agent for a flat fee listing, which will give you the right to post your home on a multiple listing service. With a flat fee listing, you pay a local realtor a flat fee of a few hundred dollars for the single service of listing your home with the Multiple Listing Service. Once your home is listed, you can post it on MLS web sites where it will be seen by hundreds of real estate agents and thousands of prospective buyers.

Another way that you can get your house listed on an MLS site is by contracting with a real estate agent with an Exclusive Sale Contract. You agree to pay that agent 2-3% commission if any realtor sells your house during the time that it is listed through him – but reserve the right to sell the house yourself without paying any commission. Again, your main aim, since you’re selling your own home, is to get the house listed on a multiple listing site.

There are also a number of FSBO sites that will allow you to list your home on their sites for a fee. Shop around for the best deal – they range in price from a single flat fee to a 2% commission when you sell your house.

Tips for Selling Your Own Home Online

– Upload at least one picture of your house that shows it in its best light. If you can, have the photograph taken by a professional photographer.

– Has your home got a gorgeous fireplace? A great view of the city? Make sure that you get a photo of that posted – the best way to sell your own home online is to make it look its best.

– Give buyers the info they want to know. Put information about the school system, the neighborhood, the local stores into your online ad. The more they know, the more likely it is that they’ll be ready to buy when they come looking.

– If your home is priced in the high ranges, consider investing in a virtual home tour so that prospective buyers can get a full tour of your home online and fall in love with it before they see it.

– Use your listing page to print out flyers that include the photographs and descriptions, and post them locally.

The internet gives you new tools for selling your own home. Just take it online, and see how far you can go with a few pictures.

Navigating The Home Selling Process Like Professionals

As you’ve probably already guessed selling your home is something that you can do own your own. Many people rely on the knowledge and skills of real estate agents when buying or selling properties. Although these professionals can provide effective solutions to complete sales, their services are not required.

In fact, more people are doing the buying or selling process without the aid of agents. With the Internet and modern technology, finding information related to the real estate industry is easier than it has ever been. A word of caution would be that even though it is easier to find all the resources you need online to sell your home the process can still be stressful. Of course the amount of money you could save selling your home without an agent makes it really tempting to try to sell your property without an agent.

Property owners can cut costs, up to thousands of dollars, by selling properties without agents. There are numerous resources that offer valuable information about how to sell a home. Most are available for little to no cost, and offer as much insight as agents might.

Homeowners used to rely on real estate agents for information on listings. These professionals were in the know about the market, recently sold properties, pricing information, competition and more. They still are today, but the Internet has made this information more accessible to all.

There are numerous websites that can be used during this process. These sites allow people to easily upload information about properties, which means listings can be marketed to millions of Internet users within minutes. More potential buyers and offers are expected when listings are well-marketed.

More than ever before, potential home buyers are also utilizing the Internet as a tool. There are trustworthy websites designed for property buyers and sellers. Sellers use them as a platform to list properties and reach a large audience. Buyers use them to browse what is available in a specific area. People who use these as a selling platform are encouraged to be thorough in their listings, including high-quality photos and accurate details.

It can be difficult for do it yourself sellers to determine the right price point, especially without professional help. It is important to research the value of nearby properties, including those recently sold. Keep in mind the condition of the home and details about it that might add to its total value. There are plenty of automated tools that produce pricing estimates, but hiring an appraiser might also be helpful. Consider all these things before setting a price. If a property does not sell after some time on the market, reconsider the price to attract more buyers.

Sellers who do not hire real estate agents to list and sell their property should still consider working with professionals. Real estate attorneys or title companies can help close a transaction by signing off on the final paperwork. Another thing to consider is just because you can advertise your home for sale does not mean that you won’t have to work with a real estate agent to get your home sold. Many times your potential buyer will be working with a real estate agent and it would be highly recommended to offer the buyer’s agent a commission to attract the greatest number of potential buyers. This is often the most complicated step in the process of selling and must be done correctly.

Selling Homes For Sale By Owner

Why go through a realtor to sell your home when you can sell it yourself and save thousands of dollars? When you use a realtor to sell your home, you must pay real estate brokerage fees. Instead of paying these fees to someone else you can sell for sale by owner and put these thousands of dollars into your pocket instead of someone else’s.

The major reason that people don’t sell their homes themselves is because they do not have the time and patience it takes to sell the home. Home sellers find themselves racing for the phone every time it rings because they don’t want to miss out on a deal. Selling real estate in Florida can be made easier through use of a for sale by owner, FSBO, website.

How many people do you think will see the for sale by owner ad in your local newspaper? Your ad might reach a hundred possibly a thousand readers, some of which may not be interested in purchasing a home. By posting your home on a FBSO site, your ad reaches thousands of people that ordinarily it wouldn’t reach. The extra exposure increases your chances of selling your home.

Too often for sale by owner homes stay on the market for weeks and even months without a single offer. Perhaps the biggest cause of this is a lack of visibility. If people don’t know your home is for sale, they won’t know to make an offer on it.

Home buyers are increasingly using the internet as their means for purchasing real estate. This creates the perfect opportunity for home buyers to take advantage of the internet for selling their homes. Listing your home on a FSBO site enables you to sell your home quicker than other kinds of real estate listings.

FSBO – What You Should Know About Selling Your Own Home

The key to selling your home yourself is being properly prepared. If you aren’t, your home may remain on the market longer than you expect because you aren’t attracting and getting offers from qualified buyers. And this is where many homeowners become frustrated and start to think about giving up the dream of selling their homes themselves. However, some sellers are very successful at selling their own homes, and you can be one of them.

This report has been especially prepared to assist home sellers like yourself understand the process so you can sell your home quickly and for the price you want. To help you prepare, be aware of the following tips before deciding whether or not this is the right approach for you.

  1. Price your home correctly. Setting the correct asking price is critical. Setting the price too high can be as bad as setting it too low. Home prices are determined by fluctuations in the marketplace, and not by your emotional attachment to your home or what you think your home is worth. To establish a realistic price, compare the price, features, and condition of similar homes in both your neighbourhood and locations where similar homes have sold in the last few months. It is also important to be familiar with the terms of each potential sale. Terms are often as important as price in the current market. Work up a careful budget of your selling costs, and prepare a net proceeds sheet to determine an informed estimate of what you can expect to earn from the sale of your home. Prospective buyers may request a similar analysis of buying costs.
  2. Prepare your home for sale. First impressions are crucial. Ensure that your home makes a positive statement by carefully inspecting all details and viewing it, as objectively as possible, through the eyes of a buyer. Don’t ignore needed repairs and fix-ups: your prospective buyers certainly won’t! Your job is to make sure your home stands out favourably from the competition.
  3. Make sure you have all the necessary legal documentation. There are many important legal contracts and documents which you need to assemble, complete, and understand when selling your home. Below is a partial checklist of forms you will need 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
  4. Market Your Home Effectively. Beyond the sign on your lawn, you need to find effective ways to spread the word that your home is for sale. You can reach local buyers with ads in a newspaper, but you will reach just a small part of the possible market. Be sure to include buyers who may already be working with a realtor. To locate them, notify as many top agents as possible in your market in case their client’s criteria match what your home has to offer. Out-of-town buyers are an important target too, so create a strategy to reach them as well. Above all, be very customer service oriented and make it easy for pre-qualified buyers to view your home. That means making sure that someone is always available to answer the phone, respond promptly to messages, and be ready to give qualified prospects a tour of your home as quickly as possible.
  5. Remain objective when showing your home. Be sure to keep your emotions out of the sale of your home. The best way to do this during a showing is to remain physically in the background. If a prospective buyer says something negative about your home, you’re better off counter-balancing this point of view by calling attention to the positives instead of becoming defensive.
  6. Pre-qualify prospective buyers. Don’t waste time entertaining buyers who cannot afford to buy your home. Research their financial situation with respect to job security, salary, debts, liabilities and credit standing.
  7. Negotiate effectively and knowledgeably. There are a great many details that need to be resolved before a sale is considered final: price, terms, inspections, possession date, and buyer concerns and objections, to name a few. You must fully understand the contract you have drawn up so you can, in turn, explain the details and ramifications to the buyer, and make any necessary amendments to the sale. Have the contract you use thoroughly examined by your real estate attorney. Some real estate brokers may be willing to help you do this. While this is going on, work to maintain the buyer’s interest in your home so it doesn’t wane during negotiations.
  8. Know your buyer. Your objective during negotiations is to control the pace and set the duration. Try to determine what’s motivating potential buyers. Do they need to move quickly? Can they afford to pay the asking price for your home? Answering these questions will give you an advantage in the negotiations: you’ll know what you need to do to get what you want.
  9. Do not move out before you sell. Studies show that selling a vacant home is more difficult than selling one that is occupied. A vacant home looks forlorn, forgotten, and simply unappealing. And it could even cost you money. If you move out before you sell, you’re also letting prospective buyers know that you have a new home and are motivated to sell quickly. That can, of course, give the buyer an advantage at the negotiating table.
  10. Understand why you’re selling, but keep your reasons to yourself. Just as important as understanding your buyer is understanding yourself. Your reasons for selling can affect everything from how you price your home to how much time and money you invest in preparing it for sale. And knowing your motivation helps you determine your priorities: the money you walk away with, how long your property is on the market, or perhaps both. Different goals dictate different strategies. Someone who prefers to sell without a real estate agent to save the commission would indicate that money is a primary considerations (see “How to Assess Your Net Gain” below). Whatever your reasons may be, it is very important to keep them to yourself so you don’t put yourself at a disadvantage during negotiations. If anyone asks why you’re selling, simply tell them that your housing needs have changed.

How to Assess Your Net Gain

To find out whether or not you’ll come out ahead by selling your home yourself, consider that most buyers use real estate agents because it doesn’t cost them anything (the seller pays the agent’s fee). Be cautious: buyers, investors, and speculators who seek out For Sale by Owner properties are usually in search of a bargain. Low-ball offers from these buyers will usually net you a lot less in the long run. Determine for yourself the following:

  1. You need to be as prepared as possible with your marketing, negotiations, evaluations, showings, and all legal matters.
  2. Calculate what it will cost you to effectively market your home and put together all the necessary materials, from the “For Sale” sign to the contracts.
  3. What price will a buyer offer you as a For Sale by Owner, minus the costs identified in number 2 above? Is this net amount higher or lower than the price an experienced agent could net for you minus his/her commission?

Tips For Selling Your Home For Sale By Owner

When you sell your home yourself, you are doing what is known as a for sale by owner, of FSBO. Many people choose to go this route to avoid hefty fees charged by real estate brokers. Avoiding these thousand dollar fees is just a good a reason as any to sell your home FSBO. If you choose to go this route to sell your home, you should keep in mind that the process requires some dedication, persistence, and a little bit of know how.

To sell real estate in Connecticut you must first determine the value of your home. This step is necessary so you can properly price your home. You can find out the value by doing some research on similar homes in your neighborhood that have recently been sold. The homes that are currently on the market are also a good indicator for valuing your home.

Once you determine a price for your home, the next step is to advertise it. One of the best ways you can advertise real estate in Connecticut is through use of a FSBO website. These websites allow you to list your home similar to a newspaper listing. Using a FBSO website increases your ad’s exposure to tens of thousands of people. This is the easiest and most convenient way to advertise your website since more people are using the internet to search for homes.

After listing your home, you will soon begin to receive inquiries. Some of these will be from people who are just trying to find out more information and some will be from serious buyers. In either case, you should be prepared to show your home to prospective buyers. Make sure repairs have been completed and your house is presentable for showing. The last thing you want is for your advertising efforts to go to waste because the house was not presentable.

Selling Your Home – FSBO – Is it Time For a Total Shock and Awe Marketing Campaign For Your Home?

In today’s over-crowded real estate market to pull out all the stops when creating a marketing campaign for your home. You need to use every marketing means available.

You need to overwhelm the market with information about your property. If you don’t your home is likely to get lost in the sea of other properties on the market. You might want professional help for planning out your campaign, or else do a lot of reading to get knowledgeable on real estate marketing.

The first thing you will learn is that there are literally dozens of places to advertise your home-for-sale website. You will also learn that many of them are free to use if you comply with the website terms.

The only cost to advertise on these sites is the time to register at the site and set up your property advertisement. It may be more efficient to hire somebody to do this for you because there is a learning curve in working with all these websites out there for you to advertise on.

The same is true for other places online you can list information about your property for sale. By this I mean social bookmarking sites, social networking sites, blogs, forums and directories. There are more of these than you think, i.e., dozens of each kind that are available to you.

Then there is the non-internet advertising media. There are more of these than you think too. People think there are only two newspapers in Maryland (in Baltimore and Annapolis) but there are actually 36. The same for magazines and free distribution “shopper” type papers for classified ads.

The thing you won’t want to do is blow a lot of your money on one or two expensive ads (like a display ad in the Washington Post, for example). Every dollar you spend has to be analyzed to give you the most “bang for the buck” in terms of exposure, readership, and traffic.

Paying an internet marketing consultant with expertise in real estate marketing will give you access to dozens of free (or very cheap) advertising vehicles, and this will cost less than some expensive ads can cost.

Internet marketing even allows you to set up “word of mouth” advertising campaigns, which can be the most effective. There are dozens of paid advertisement websites online also, including Google, which now gives local real estate search results.

The FSBO Seller’s Top Ten Tips For Selling Their Home For Sale By Owner

If you’re considering selling your home by owner, congratulations! You’re part of a growing trend toward FSBO property sales. If you’re worried that going the FSBO seller route means that you’ll miss out on all of those great agency sales tactics, you’re wrong. You can do the same things that any real estate agent would suggest. To get you started, here’s a list of the top ten things you can do for your home when you’re trying to sell your home by owner.

1. Create multiple means of exposure. Houses sell when they’re exposed to potential buyers. The more exposure you create, the more likely you are to sell. “Multiple means of exposure” means listing it on a FSBO site, providing pictures, tours, and information buyers want to know. Advertise your home in the newspaper. Print flyers that list the details of your home and be available to show home. Some buyers have turned to television ads for sale on real estate channels to attract buyers. The more exposure you provide, the easier it is for potential buyers to find.

2. De-clutter rooms and closets. A home looks nicer and shows better when it isn’t cluttered. Remove magazines, books, furniture, stored items and things you no longer want. You’ll have to pack all of this stuff before you move, so why not get an early start?

3. Fix peeling paint and other minor imperfections. Peeling paint can be a sign of deferred maintenance, bad painting or water damage. All of these things will turn off a buyer. Putting a fresh coat of paint on your walls and ceilings is easy and inexpensive.

4. Consider staging and research some ideas on the internet. Staging involves making your home visually attractive to potential buyers. It may involve re-arranging the furniture, renting new furniture, repainting, re-carpeting or minor redecoration to show off your home’s best qualities. Staging doesn’t have to break the bank, but a home that shows well sells. Whatever you can do to improve the look of your home will help your buyer see its potential.

5. Price the home right. Check recent sales in your neighborhood for an idea of what your home is worth. Do not overprice your home because if your price is substantially higher than other homes in your neighborhood. You will not be able to sell because overpriced homes whether Fsbo or MLS do not sell. Buyers want to feel as though they’re getting value for their money. If your home is the most expensive one in the area, buyers will focus on finding a comparable home that’s priced lower than yours.

6. Always have a yard sign and flyers. When potential buyers visit your neighborhood to see a particular home, they’ll look for other homes that are for sale. If visitors don’t know your home is for sale, you may miss potential sale opportunities.

7. Fsbo sellers need to create an online listing for their home on the internet and may consider using the FSBO marketing services that are available on the web. The key to selling your home is proper exposure and your chances of finding a buyer are greater when you make it highly visible to potential buyers.

8. Answering your phone is paramount as a Fsbo seller. It sounds simple, but many people who are selling their homes Fsbo miss potential buyers who are calling to inquire. Make absolutely certain you or someone else is available to take calls. Don’t assume that an answering machine or voice mail service is sufficient because many potential buyers won’t leave a message when they call.

9. Spend some time on landscaping. Making the outside of a home look appealing and fresh is just as important as making the inside look nice. Remove or trim bushes. In the summer, plant attractive flowers, cover beds with wood chips or mulch and keep things weed free. Mow the lawn frequently. If you don’t know anything about landscaping, check with a local nursery, gardening club or even a nearby university with a botanical program. Students are often willing to take on landscaping projects.

10. Partner with a bank or lender to offer potential financing sources for prospective buyers. Local banks, credit unions and mortgage brokers may be able to offer financing deals that can help a buyer get into your home. Offer all visitors financing information from your local bank or lender when they tour your home. You want to make sure any potential buyer is qualified to buy the home.

These are just a few of the things you can do to help your home stand out. In current market conditions, selling a home is about pricing, location and exposure. If you have all three of these elements in place, there is no reason to think you won’t sell your home as effectively as any real estate agent.

Top 10 FSBO Tips to Selling Your Home by Owner

By using some simple FSBO (For Sale by Owner) tips and techniques, the average homeowner can sell his or her own home without the assistance of a real estate agent. Just as many others have done in the past. You can sell your own home and save thousands, but it takes work and commitment.

Below you will read some simple strategies that can stack the odds in your favor, greatly increasing your chances for success when selling on your own.

FSBO Tip 1. Understanding the real estate market.

Getting an idea of your local market conditions makes good sense. Just like any other product getting a feel of what’s hot and what’s not can help you make decisions that affect the sale of your home. Consider your neighborhood and the features that distinguish it from others. If you’re comfortable, contact a real estate agent to discuss what the current market environment is like.

FSBO Tip 2. Timing is everything.

Timing the decision to sell and gauging the current market conditions could be two of the most critical decisions you make. If you need to sell your home quickly, the less flexibility, you’ll be able to have. Conversely, if you’re not in a big hurry you can sit back and wait for the perfect buyer. Just remember the real estate market is a cyclical environment. If it’s a slow period now and you’re in a position to wait it out then it might be a good idea to wait for the next upswing.

FSBO Tip 3. Assemble a team of professionals to help you.

While it’s nice to think that you can handle things on your own, selling a home takes specialized knowledge. It’s more than just writing up a sales agreement. Depending on what part of the country you’re in you’ll either need to find a real estate attorney or a title / escrow company to help with the legal details. As a rule of thumb, if you’re east of the Mississippi it’s usually a real estate attorney. If you’re west of the Mississippi, it’s a title company. Either way they’ll be an indispensable part of your home selling process. Another important partner to consider is a reputable mortgage banker/lender. They can assist in helping you prequalify buyer prospects. We’ll talk more about qualifying prospects as you read on.

FSBO Tip 4.How to determine the fair market price of your home.

This always seems to be a real tricky one. For many home sellers this typically reveals itself as a major point of contention. When trying to decide on a price guessing or basing your asking price on hearsay or nontraditional methods immediately reduces your negotiating advantage. Basing your price on what the house down the street sold for or what media outlets perceives as increased market value is not the way to get a legitimate price either. There are only two legitimate and well-recognized ways of determining a fair market value. One way is to contact a real estate agent or broker to provide you with a CMA otherwise known as a comparative market analysis. The best and most accurate way of determining price comes from a full-blown appraisal done by a professional real estate appraiser.

FSBO Tip 5. You’re selling a house not a home.

While it’s important to become emotionally detached, you don’t have to become a robot. After all this is your home, be objective but don’t be cold. Keep in mind that people are going to perceive your home differently than you do. Either way remain positive and ultimately the right person will walk through the door and buy your home.

FSBO Tip 6. Preparing your home for sale.

Today’s real estate market rewards those homeowners that place a high-value on neatnessas well as cleanliness. It not only adds value but alsogenerally promotes a quicker and more profitable sale. Once again the depersonalizing of your home helps your prospect with such an emotional decision. Decluttering the inside of a home is also key to your preparation. If necessary, rent out a small storage space and store some household items there. Just as a side note, having a garage sale is also a great way of getting rid of items that clutter up the house. Not only do you get rid of the items but also you make a little money in the process.

FSBO Tip 7. Start spreading the news.

It should be understood if you’re going to sell your home and you’re going to do it yourself, the easiest way to get the word out is to put a sign in your yard. This will immediately get the attention of anybody that happens to ride by. Naturally, this is the essence of selling on your own. Coming up with a highlight sheet to outline the key features of your home is a must. With the readily available use of word processing programs putting together a simple highlight sheet is easy.

FSBO Tip 8. Knowing a few, negotiating skills will get you a long way.

It’s not necessary to become the next great diplomat. You will want to keep in mind that it’s necessary to keep your emotions and personal feelings regarding the negotiating price of your property in check. When discussing the selling price it’s important that your calculations and numbers are correct. This allows you to have greater flexibility and leverage and you can negotiate from a position of strength.

FSBO Tip 9. Qualifying buyers and stopping the lookie loos.

So what’s a lookie loo? A lookie loo is a person that comes to your house and looks in everything. They,look in cabinets,closets and drawers check everything out but never make you a serious offer. You need qualified buyers looking at your home or it’s going to get very discouraging. One of the best ways of getting qualified prospects is to have them referred by your mortgage broker/lender. You can also take the direct approach. If you’re arranging a showing over the phone, go ahead and ask them if they are pre-qualified. Don’t be too shy when it comes to your prospects. If you’re holding an open house and someone expresses interest in your home go-ahead and ask. Most of the time if they’re pre- qualified they love to tell you. So don’t worry about asking, it’s the right thing to do.

FSBO Tip 10. If all else fails go to where the realtors hang out.

If after a while, you’re not getting the results that you were hoping for you can always go to the MLS option. This doesn’t mean that you have to list with a real estate agent or broker. As a private party, you can list your home with your local multiple listing service. Usually this cost a fee but by doing this you automatically expose your house to thousands of potential prospects all over the country. The upside is that you should be able to sell your home in short order. The obvious downside will be that you will have to pay co-op to an agent. Only in unique situations would the cost of co-opting be virtually impossible, due to low equity or some other extenuating circumstance.

These FSBO tips should give you a solid foundation to successfully selling your own home. There’s many specific ideas and recommendations that are beyond the scope of this article when it comes to pricing, preparing and staging your home, and all of the items previously outlined. You should definitely research and prepare yourself for the selling of your own home process. In the long run,it will make things easier and could either save you or even make you thousands of dollars.

FSBO Selling & Low-Ball Offers

There are some particular things that happen when selling a home by yourself. You will have to be able to deal with them in a professional manner in order to receive the best price for your home and not be taken advantage of. One of the first things that you will have to deal with is the abundance of calls that you will likely receive from local realtors wanting your business. They will tell you that they can sell your home quickly and for more money, but of course, there is a commission attached to this so it’s in their best interest to get your business. However, if you have planned properly for your sale and have done the necessary market research and are confidant that you can sell your home yourself and save the commission fees then stick to your guns!

Another thing that you may have to deal with is low-ball offers from buyers who think they can get a reduced price simply because you aren’t being represented by an agent. As agents are usually experienced at negotiating, people expect to pay more and have more trouble with getting a lower price. If you have priced your home properly then there should be no need to cut your price down, buyers should realize the value of your home and be willing to meet your price. Be ready for people making low offers in an attempt to find out what your bottom line is. If you receive an offer that is too low for your liking, make a counter-offer that is acceptable to you. Whatever you do, don’t be desperate to move the property. In all likelihood the buyer’s agent will identify this quickly and you will end up losing money in the end.

Don’t sell yourself short in this process, and never settle for an offer that is less than you know the home to be worth. FSBO selling is tricky and there are people out there who will prey on uneducated FSBO sellers. Make sure that you are not one of them.