For Sale By Owner - Prepare For Success
By Rick Hendershot, Fri Dec 9th

So you want to sell your home without a real estate agent. Likehundreds of thousands of other homeowners, you've chosen thisoption because you don't want to pay those large commissions toan agent. Many people who have tried it in the past will tellyou that selling your home on your own can be very challenging.But the best way to be successful is to be prepared. Do yourresearch and get your hands on as much expert information as youcan.

1. Prepare Yourself to Become a Seller

Read all you can about selling your own home. If you are listingwith an online service such as allstatesfsbo.com, be sure to getas much selling information from the site as possible. They willoften have articles and reports on how to prepare your home, howto set a reasonable price, how to hold an open house, whathappens at closing and much more.

2. Prepare Yourself With All Necessary Legal Documentation

When selling your home, there are many important legal contractsand documents you must assemble, complete and understand. Hereis a partial checklist of forms that you may require forprospective



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 - PropertySurvey - Sellers Statement /Plot Plan of Representation

Consult available online sources for further information aboutthe legal forms necessary to complete your transaction.

3. Prepare Your Home for Sale

First impression is crucial. Make sure your home makes apositive statement by carefully inspecting all details andviewing it through the objective eyes of a buyer. Don't glossover needed repairs and fix-ups, as your prospective buyerswon't. Your job is to ensure that your home stands out favorablyfrom the competition. You may also want to get a professionalhome inspection done and take care of any problems it reveals.This is the best way to avoid surprises and alleviate anyconcerns your prospective buyers might have.

4. List Your Home with a Credible FSBO Web site

The first place most prospective home buyers look for realestate listings is the internet. Find a credible FSBO web sitethat will give you a detailed listing for a reasonable price.Some services such as allstatesfsbo.com will even list your homefor free. Be sure the site you list with offers the followingservices and features:

- Detailed listings that allow you to upload photos - Listingsthat are searchable by price, location, features - Lots ofCurrent Listings - Seller Resources to help you sell your home -Buyer Tools to help FSBO buyers - Mortgage Information

5. Market Your Home Effectively

Beyond your online listing and the sign you put on your lawn,you should find effective ways to spread the word about yourhome. Local buyers can be reached through the newspaper, butthis is only a small part of the market you are after. Be sureyou include the many buyers who could already be working with aRealtor. To locate them, target as many top agents as possiblein your market to see if your home might be a match for some oftheir buyers.

Your online listing will reach many out-of-town buyers. It isimportant to be very service minded and make it easy forpre-qualified buyers to view your home. Ensure that there isalways someone available to answer the phone, pick up messagespromptly, and be ready to give qualified prospects a tour ofyour home as soon as possible.

6. Do Not Price it Too High

The number one reason that most FSBOs are not successful is thatthe owners set the price too high. Home prices are determined byfluctuations in the marketplace not by your emotional attachmentor by what you feel your home is worth. This is actually one ofthe useful services that a real estate agent can provide --helping you to be objective about the price. Since you arechoosing to be your own agent, it is important to be just asobjective about the pricing of your home.

The importance of pricing your home correctly cannot beoverstated. Consider that in any given real estate market thereis a relatively small number of prospective buyers who might beinterested in your home. They have been looking around atalternatives, and they usually know what kind of pricing toexpect. If you lose their interest within the first few weeks,you are not likely to get it back later. The only thing likelyto bring them back is the possibility of a lower price. Andsince they know your home has not had any takers, they willprobably assume they can squeeze you for an even lower price.

In order to establish a realistic price for your home,objectively compare the price, features and condition of allsimilar homes in both your neighborhood and other similar oneswhich have sold in recent months. Be sure to compare the termsof each potential sale too because these are often a decidingfactor in real estate transactions.

If you are not prepared, or have not properly done yourhomework, you may have a difficult time attracting and gettingoffers from qualified buyers. This makes many homeowners give upin frustration. However, it is possible to successfully sellyour own home. Thousands of home owners do it every week. Andyou can too.

About the author:For more information about FSBO and FREE LISTINGS go tohttp://www.allstatesfsbo.com ===> Rick Hendershot is a writerand publisher of Linknet Promo Articles athttp://www.linknet-promotions.com/promo-articles.php

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