Fizbomap Blog

Idaho For Sale by Owner tips, news and updates

Important Considerations In Selling Your Home

Posted by Matt Newbill in Fizbomap, For Sale by Owner, Tips on December 26th, 2006

The following are important considerations in selling your home as a sale by owner:

  1. Expect to spend at least $750 or more to sell your home on your own unless you know of some professionals that will assist you for free.
  2. Be prepared to be on the market for 17 weeks or more.
  3. Don’t let the details kill your sale. Put together an effective team so the sale of your home isn’t slowed down or fails because you got bogged down in the details and paperwork.
  4. Calculate your best Price Points so you know what your home is worth and how to measure the payoff of major repairs.
  5. Exploit Non Conventional Market Timing to get the most amount of money for your home. Put your home on the market as prices begin to rise so you can the get the most for your home and sell in the least amount of time.
  6. Make sure that the outside of your home is so appealing that as buyers drive by they will say, “Wouldn’t it be great to live there?!”
  7. Concentrate on the Value factors of Comfort, the SEE factor of Sleep - Eat - Entertain and Function. You want people to enter your home and let them wonder how great it would be to live there!
  8. Use Marketing tactics to position your home in such a way that Buyers will take action, see your home and ultimately make an offer.
  9. Create urgency and follow the rule of Full Price: if a buyer feels the asking price is fair, and is faced with a sufficient sense of urgency, he/she will pay the full asking price.
  10. Use “Sweeteners” to provide buyers with reasons to accept your Asking price rather than fight it.
  11. Never discuss price with a buyer until the buyer has made a written offer.
  12. Remember, in Real Estate, verbal offers are not binding.Everything agreed upon has to be in writing and part of the contract.

It costs money to sell your home on your own. You should take this into account when making the decision to sell your home on your own. These costs usually run about $750.00 minimum. However, the longer it takes for you to sell your home the more money you will spend.

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