When you sell your house as a For Sale By Owner you need to know what your up against. You need to be better than the competition. It can be with price, condition, concessions or just by being the best. Know that the buyers seeing your home will be seeing others for sale in the neighborhood.
Attend open houses in the area is one way to get to know the competition. Browsing the real estate internet portals like Zillow, Trulia Homes.com is another way. It’s a good idea to schedule viewings and go see the homes in real time.
Call the number on the sign or hire a buyers agent to show you around your neighborhood. Keep in mind that many Realtors will want to know if you’re pre-approved with a mortgage lender. If you’re buying another home after you sell yours than yes, you should have a re-approval letter. If not call around until you find one one that’s willing to show you listings without a pre-approval. They don’t need to know your not in the market to buy.
Use The Information You Find From The Competition.
Once you are well aware of the competition make sure your home outshines all the others in your area. Whatever you have to do to make your home better do it.
Often buyers are looking in a particular neighborhood or part of town. That means they will schedule several showings in the same area and compare what they see. By knowing what the competition, the other homes for sale around you, are doing you have the opportunity to make your listing the best!
We here at DIY Real Estate write and talk a lot about the WOW factor and first impressions. When a potential buyer pulls up to your home you want it to be the best looking house in the area (first impression). That will get them inside where you have the chance to show them that they can own the best house in the neighborhood.
Seriously, take the time and effort to make it so and you will sell your home fast and for top dollar, maybe even more. And all on your own without paying a real estate agent thousands of dollars just to “list” your house.
Make Sure Your For Sale By Owner is Ready to Sell
Some common complaints I hear from buyers when showing houses;
- Not clean
- Needs paint
- Dirty or damaged flooring
- Pet smells
This is not an exhaustive list but some of the most common. It gives you an idea of how you can be better. Being better is what gets your house sold. Leaving an impression is what gets your house remembered. Make sure your house is ready to sell before you put it up for sale.
Other Ways to make Your Listing Stand Out
Offering concessions is a way to make your offer more attractive than the others in your area. “Giving away” extra appliances can garner attention. Many buyers need help with closing costs and will ask anyway. Consider offering to pay a portion up front.
Do you have a really nice outside space? If your backyard is set up for outdoor activities or relaxation with games, grill area, cool furniture, a pool or whatever else, think about leaving that stuff for the buyer.
The point is to make your house stand out. make people want to make their own. You’ll sell it faster and you’ll get more money.
You can easily sell your home yourself and keep thousands of dollars in your pocket.