by: Diane Vespucci ~ Re/Max Realty
Its spring and the FSBO owner signs are springing up like daisies. When you Google ‘How to Sell your Home’, WikiHow tells you that these are the steps you need to take:
1).Thoroughly clean your home.
2).Have it appraised and inspected.
3). Make any necessary repairs and get your home into move-in condition.
4). Market and show your home effectively.
5).Give yourself time to lower the asking price.
Naturally, you’ll clean your home, and you should repair anything broken. Beyond that, you may want professional advice. When I sold my first home, I put in all wood floors thinking it would help the home sell. It was a seller’s market and the property sold but when I visited the buyer a few months later, I was stunned to find he had installed brown carpet over the beautiful $7000 wood floors. Talk about hindsight! It was an expensive lesson. Not everyone likes your taste, and some renovations will not pay you back or help sell the property. In fact they may cost you so if you want to sell FSBO, consider how a good Realtor can help. Clean your house – if you live there, and then call a Realtor. If you don’t live there, show us what it really looks like, but call a good Realtor. We’ll walk the property with you, listen to you point out the best and worst features, the things you think you should do (repaint, change flooring, remodel) and then we’ll tell you if that will help your bottom line. A home in perfect, move in condition is always attractive, but again, your taste is not someone else’s and people may not want to pay the additional dollars for granite countertops – or even for wood floors. A Realtor will prepare a CMA, or market analysis. The sales information is available to the public, but it’s a job finding it. You don’t want to leave money on the table, but just as bad is overpricing your property. It will sit. People will not make offers. Next is listing, marketing and showing your property. Are you up to strangers tromping through your home; calling at all hours? Can you divorce yourself from the comments about your property? Will you be safe? Can you protect yourself legally?
On top of it all, most people who sell their home FSBO cost themselves money, somewhere in the range of 18%. Using a Realtor may increase the amount of money you make from the sale of your property. That last bit of WikiHow advice – Give yourself time to lower the asking price? That’s wasting time. A property, priced correctly the first time, usually sells. There are four reasons a home doesn’t sell. 1. Price. 2. Price. 3. No photos on the Internet and 4, -you guessed it – price. Pricing a home correctly is an art and even the professionals don’t always get it right due to fluctuating markets, and we have experience. How do you think you’ll fare?