I
know some of the following may seem
obvious but you would be surprised by how
many people do not take these simple
steps before they attempt to sell their
house.
Before
you place your home for sale take some
time to evaluate what kind of repairs can
be done to enhance curb appeal and first
impressions. Take care of any leaks,
water spots, peeling paint, cut the
grass, wash the carpets and take away any
clutter. Generally speaking the less
things that need to be done in the eyes
of a purchaser the better.
If
any items are really outdated (like the
70's drapes or green shag carpet) often
times replacing these items before hand
is best. People seem to jam as much
furniture into a room as possible. Try to
make the living area as bright and open
as possible. So clean out your closets,
open the drapes, move out some furniture
and clean up the garage.
The
"smart FSBO"
gets a home inspection done first
by a reputable company and makes it
available to buyers.
The
effect is two fold. It shows that you are
not hiding anything, latent defects etc.,
and this will avoid the "shopping
list" effect. Many times a
private seller will enter negotiations
with a buyer and THEY
will get the inspection done. If the
inspection turns up any required repairs
the buyers will often try and price every
single item and ask you to deduct that
amount from your selling price. So deal
from a position of strength, get the
inspection done first and take care of
any repairs beforehand. The
inspection must done by a licensed,
independent professional, not some guy
with a ladder and a flashlight.
When
embarking on selling your home yourself,
you should get an independent appraisal
to determine and confirm the value of
your home. Appraisals are based on
comparable sales but are not pumped up by
a real estate firm. You can then show a
buyer this information and again you will
be dealing from a position of strength
and not some pie in the sky figure.
If
there is any questions as to the
dimensions of your property make sure you
have a survey available. Questions and
any representations made about your
property must be accurate and surely can
be deal killers. So arm yourself with all
this information and you will be way
ahead of most FSBO's.
When
advertising your home for sale in the
newspaper a well placed ad with the
basics is enough. No need to overkill
plus most newspapers are expensive. Be
available for showings and hold some open
houses. Get some brochures printed up,
give to prospective buyers and put them
up anywhere you can in your neighborhood.
Try
to "piggyback"
your open houses when realtors are doing
the same in your neighborhood.
This
way the FSBO reaps the rewards of
the realtors advertising dollars
- they hate that! Make sure not to let
too many people into your home at once,
things have a way of disappearing and
always have 2 adults present. Again,
price in the end is what sells a home so
price it right the first time and don't
try and earn the commission. Nothing is
sadder than a FSBO who is out to lunch
with their price, spends lots of time and
money, then surrenders it to a real
estate agent wondering what happened.
I
think that open houses when selling your
home yourself is more effective than when
a real estate agent does it. Did you know
that homes are rarely sold directly from
open houses? Usually the agent does this
to appease you and to find clients to
sell them other homes. That's why many
new brokers will hold open houses on
experienced brokers listings, to find
clients.
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