For sale by the owner is a kind of sale in which the owner handles the process all by themselves. The process does not involve any real estate professional during the sales process, however, some states require a real estate attorney to make sure that everything goes legally. When planning to sell houses for sale by owner, you must plan everything to make it successful. The adequate planning and presentation of your property can mean the difference between a quick sale and a slow one.
Here are the top 4 ways to a quick home sale:
Now when you have decided to sell your house privately, there are a few things that you should do before advertising and house showing.
- Preparing for the private sale
Before you go ahead with the property selling process, make sure you have time to figure out what the proper asking price should be. The feasible way is to drive around your neighbourhood and check what others are asking for their property. Also, consider checking on the websites what the median price for your kind of property is going for. Once you have the general value, think like the salesperson and decide exactly how valuable your house is.
- Home staging
Property staging as a part of the process can give a competitive edge over other properties on the market. Statistically, home staging has resulted in higher selling prices because of the quick home sale. The objective behind home staging is preparing properties for the marketplace to sell them for top price and as quickly as possible. This would be impossible to achieve without giving thorough attention to condition issues and enhanced presentation. The focus remains on showcasing the best features of the property, making it appear as bright and spacious as possible and thus creating buyer appeal and wow impact.
- Promoting your property
This is where your real effort is required. Here, you need to make use of every available advertising resource available. How are potential buyers going to know about your property for sale? How can you help invest in your land? While creating a strong marketing plan, think from the buyers’ point of view. Compared to involving an agent, you as a property owner will be in a better position to advertise your property to the clients. This is because you can add a personal touch and highlight the special features of your property.
In addition to using online resources like uploading property descriptions and attractive pictures, you can use yard signs, flyers and marketing strategies to get buyers’ attention.
Why list your houses for sale by owner?
- Multiple accesses
By listing your property online, you can make it viewed at multiple sites. For instance, listing it on one of Australia’s leading platforms-MTA, allows you to list it on other popular sites as well. In fact, portals provide the facility to share or publish your property with your friends and relatives through social media. This aspect will help you advertise your property for sale to the maximum number of investors in the property.
- Great exposure
Online property listing helps you advertise your property 24/7 to buyers. You can attract buyers by posting unlimited pictures of your property to let them have a good glance at the area and capacity you have. You can add a textual description of your property, covering maximum information and helping them know the exact and correct details about your property. The listing not only provides the best exposure to property in the specific area you live in but also influences buyers nationwide.
- Big profits
One of the great advantages, when you list your property for sale by owners, is that you will earn the real profit, not the real estate agent. The agents usually charge up to 6 -8% commission of the total price, which can severely cut into your bottom line. In case, you are well-versed in the real estate business, you would know how great a saving this could be for you.
Moreover, not going through the traditional real estate listing through the agent gives you complete control of your property. As a property owner, you set the price and negotiate the closing.
- Public acceptance of the process
A few years ago, the preferred choice for homeowners was hiring a real estate agent to sell their properties. However, since more and more owners are opting FSBO Process, the entire support industry seems to assist the property owners who have decided to follow the “ for sale by owner” path. Online portals, offer advertising packages and a complete guide to homeowners, for an affordable fee.
- Controlling the home sales process
The real benefit of promoting your property on the market via owner as opposed to hiring a real estate agent is the controlling factor. From start to finish, you will get complete control of the whole transaction.
You are free to advertise how you see fit and use the methods you want. You also are free to maintain all profits from the sale, and that is generally enough to reassure the seller that the FSBO process is the best approach to take.
What’s more in the For Sale by Owner Process?
Just because you are selling your home on your own, it does not mean that you have to do each step of the process on your own. There is a lot more to the real estate world than just real estate investors and agents. For a flat fee, a home appraisal service can help evaluate your property for the best selling price, while the listing agent can help you list your home. And, hiring an attorney for the process can guide you through the details of any offer right up until closing. You can still have professional assistance in every stage of the process, where you do not feel comfortable. Happy Selling!