When you sell your home for sale by owner, you have to complete all of the tasks that a real estate agent would normally do, including determining an asking price, writing a creative description of the property and negotiating with buying agents and interested buyers.
If you’ve never sold a home before, this process may seem very daunting. However, there are many steps you can take to make the process as straightforward as possible. There are also many relevant resources you can consult, some of which are free of charge or cost very little money, to get the advice you need to do the FSBO process right.
Here’s how to sell your house without a realtor:
Get an inspection and appraisal: An inspection and appraisal may be a small investment upfront, but both steps can help you better determine how much your home is worth, the kind of money you can earn on the sale and set a more realistic price that brings in more prospective buyers sooner so it’s not on the market longer than it needs to be.
Determine a realistic asking price: View listings for homes and properties with the same number of rooms and bathroom, similar amount of square footage inside and acreage outside and kinds of amenities or features. All of this information should give you a good idea of how much you can ask for your home to make a quick sale.
Create an accurate and detailed description of your home: Use your wordsmith skills to explain the features and amenities of the home and property. Emphasize what makes it a great place to live. Consider using other area listings as inspiration for phrasing and what local buyers are looking for in a home. You can also add in any terms of the sale, such as any financial documentation you require before showing someone the house or accepting an offer.
Prepare your home for showings: If your belongings are still there, make sure everything is organized and tidy so prospective buyers can focus on how nice the house is rather than any clutter they may see. Consider also having your home professionally cleaned, and regularly clean to keep it in good condition in case you have an urgent showing.
Take advantage of your home’s location: Homes on or near busy streets are more likely to get attention than those that aren’t. If your home is in a well-trafficked neighborhood, consider putting up signs to advertise the home is for sale and/or any open houses that you hold.
Have your home photographed professionally: You will most likely put up a listing on at least on real estate listing website. Shine the best light on your home with professional photos that you can post alongside a well-crafted description. Professional photos look more clean, better lit and welcoming, which are more likely to attract prospective buyers.
Sell your own home online: Pay to post your listing on real estate listing websites like Zillow, Redfin, Trulia and others. Add your contact information, and field questions and requests to see the property right from the site or app.
Reach out to your network: More than 50% of all FSBO homes are sold within two weeks, and a majority of those sales are between a seller and a buyer who know each other. Contact your friends and family to see if anyone is interested in buying your house from you. Then, have them reach out to their contacts to spread the word.
Use social media: Post on social media that you’re selling your house. Include links to the real estate listing site, or add the listing right to your page. This is a great way to attract buyers from your network.
Set standards for offers: Determine your minimum offer price, proof of finances and other features of an offer beforehand. That way you can streamline the process and not waste time looking at offers or considering buyers that don’t meet your standards.
Consider finding a real estate attorney: A real estate attorney can give you advice on taking offers, the legal process of selling your home, the documents you need and help you close the sale. While a real estate attorney is an investment, you won’t be paying as much for their advice and services as you would when working with an agent.