Don't put your house up for sale by owner before you read these 7 secrets
Make no mistake, these general rules could be applied any home listing, not just FSBO's. I occasionally get asked this question; Nick, do you have any tips for us when listing our house FSBO(for sale by owner)? Ask another agent and all you might get is a smirk as they turn away, but here are a 7 helpful secrets for you go-it-aloners out there.
Secret #1 – Price it right! Use all available market data and price it into the markets’ “sweet spot”. Be very wary of the “let’s try it for a while” pricing method. Sure, you may get an accepted contract, but what’s going to happen when the buyers bank has it appraised?
Secret #2 – When it comes to photos, more IS NOT better! Take quality photos. Take your time, go room to room, remove/move clutter. Turn on all of the lights, open shades and make sure to take photos when the sun is out. Limit the flash function on your camera to prevent glare.
Secret #3 – This piggy-backs on secret #2. Get rid of ALL CFL’s(compact fluorescent bulbs). The light emitted from a CFL isn’t as high quality as a regular old incandescent. Sure, you’re budget conscience. I am too, but spend the extra $10 on your electric bill this month. Replace all interior and exterior cfl's. You’re home will show in a much better light. No pun intended.
Secret #4 – Be conscious of smells. Good, bad and the other. Pets, food, etc. Do your best to limit or mediate unpleasant scents. Our sense of smell is a memory trigger and it will leave a lasting impression. Some buyers can’t get past certain scents, no matter how small. Get your carpets cleaned, empty the trash regularly, eliminate pets smells, etc.
Secret #5 – Get ready for people to waste your time. You will be inundated with “time wasters”. How do you solve this? Require a bank pre-approval prior to allowing a showing. Buyers will complain about that, but it will save you a lot of time.
Secret #6 – Detach yourself. Think of your home as a commodity. Prospective buyers are going to say things you will find offensive. They may not like your decorating, etc. So what! There’s a saying in real estate; “ A buyer will nitpick what they are interested in”. They will vocalize. Let them.
Secret #7 – Watch what you say. Buyers and buyer agents will ask you all kinds of questions. Their motivation? To figure you out. They’re looking for your weaknesses to better strengthen their bargaining position. Calculate your responses with care. Always disclose property related details, but be careful when talking about your personal information; Family, job, where/why you're moving, what price you're willing to take, etc. Some people may say this is a no-brainer, but you'd be suprised how easy it is to determine someone's motivations.
Looking for more advice? Contact me directly.