Ready to jump into the housing market and want to try to sell your home as “For Sale By Owner”? Well, you’re in luck – Ben Buys Indy Houses is ready to offer you 10 tips to succeed as a FSBO. Read on to learn more!
10 Tips to Succeed as a FSBO
1. Research Your Local Market
Before you put your home on the market, you’ll need to do some research on the local market. This includes your neighborhood, town and surrounding area. Visit open houses of homes for sale nearby to see what kind of competition there is. The more information you have upfront, the easier it will be to price and sell your home.
2. Be Honest About Your Home’s Flaws
This can be tough to do! For one thing, when you have lived with certain flaws or quirks for a while, you may not notice them as much. Also, this can require a certain level of objectivity. Admitting the updates, renovations and repairs your home needs is vital to knowing what needs to be done before the home will sell, as well as help you better price the home to sell.
3. Declutter and Depersonalize Your Home
This is a huge thing – if you have lots of personal photos, knickknacks, clutter and belongings out, you’ll want to put them away before showing the house. An abundance of personal things can make it harder for potential buyers to see the space as something that could be theirs. Consider renting a small storage unit for extra boxes and belongings.
4. Hire an Appraiser
If you’re working with a real estate agent, they’re able to help you assess how much your home is worth. Some FSBO sellers are confident in their ability to accurately price their home. But, if not, it’s always a good idea to consider hiring a professional appraiser to give you a fully objective look at how much your home is worth. Here’s a great list of questions to ask an appraiser prior to them coming into your home.
5. Have Great Photos
Real estate photography is a unique art, just like portrait photos. If you have a high-quality camera and want to try taking your own photos, here are some great tips from professionals. A lot of FSBO sellers find that it’s worthwhile to invest in having a professional real estate photographer come in and stage and photograph your home – they know the tricks of lighting, spaces and which details to include.
6. Market Your Home
This is really where the grunt work of FSBO hits. Most of the work that a real estate agent does is marketing – listing your home on the MLS, getting it onto other real estate sites, posting it in newspapers and real estate magazines and more. In order to successfully market your home, you have to take on that burden yourself. Print high-quality flyers, pay the fee to list it on the MLS and take advantage of FSBO websites to list your home.
7. Be Available for Showings
Clearing out your schedule for showings is also crucial to FSBO success. One of the trickiest parts is just making sure that you are open to a variety of timeslots for viewings. Host open houses and work with potential buyers to find times that fit both of your schedules. This can be inconvenient and frustrating, but it’s very important.
8. Be Security Smart
When you work with a real estate agent, you have someone who serves as the front line of defense. They vet potential buyers and check identities before bringing them into your home. When you post your home as FSBO, it can serve as an open invitation for people to wander through your house. Before any showing, do some research on the person. If possible, do your showings during the day – if they have to be at night, turn on all lights inside and outside of the house and leave curtains open. Store valuables, electronics, calendars and information that shows any schedules (school activities, work information, etc.) before showing.
9. Distance your Emotions
Be ready to hear some sharp critiques of your home and strong opinions. This can be tough, especially if the comments are against things you have a sentimental attachment to, but it’s important. Don’t take comments about your house or requests for repairs as personal attacks. This is a business transaction, don’t forget that.
10. Consider Hiring a Lawyer
Finally, when it comes time to draw up the contract and close the sale, consider hiring a lawyer to help you make sure everything is correct. Real estate law is a complex thing, and it’s best to err on the side of caution.
We hope these 10 tips will help you to FSBO success! Want more information on what it would be like to sell to a cash buyer? Contact Ben Buys Indy Houses today! We’d love to hear from you and make you an offer on your Indianapolis home.