1. Always prepare your home for viewing. There are some home buyers who
suddenly drop by unexpectedly in for-sale homes. This can happen to you and so
you should find it very important to keep your home clean and organized every
single day. Always aim to give your potential buyers a good impression on your
home.

2. Have a marketing plan. If you want your property to gain exposure, you should
come up with a plan on how to market it. Maybe advertising it on local newspapers
is a nice move. It is also a good idea to give out flyers or post ads on the Internet.
All these are effective FSBO strategies. Just don’t forget to include the price of your
home, your contact details, and location on your ads.

3. Research is the key. Before offering your home to home buyers, you first have to
know what the current real estate trend is within your area. Conduct some research
on the average prices of homes. This way, you will exactly have an idea as to how
much the ideal cost of your property is.

4. Practice patience. Expect not all home buyers are nice. There are those that
might insult you, some are easy to please, and others can be very demanding.
Always maintain your composure when dealing with people with boorish
personalities. If you hear unpleasant comments, just ignore them and hope for
positive results.

5. Act professional. Even though you choose FSBO rather than using the talent of
a realtor, it is recommended that you also act just like realtors do. You should be
able to deal and negotiate with potential buyers in a professional manner. Make an
impression that you are well familiar and comfortable with what you’re doing, and
most importantly, do not get intimidated by them. Otherwise, you will not be able to
sell your home at the price that it deserves.

FSBO is not that hard to do, unless you behold the above-mentioned tips. Another
important thing that you also have to keep in mind is that you must equip yourself with
enough knowledge about the different processes of real estate transactions and, of course,
FSBO.

Setting the right price for your property and making sure that it is in great condition will
help you sell it quicker and easier. Do not attempt to increase the price excessively as
home buyers will not even bother to negotiate with you. Also, do not think that buyers do
not care much about the condition of your home because this is actually a very important
factor that they’re looking into.

Home buyers today are much wiser as they compare several properties first before
they make a final decision. When making a shortlist of homes that they find to be good
candidates, they look closely on the location, condition, amenities, peace and order, and
price. Never expect to be in their shortlist if you have set a very high price for your home,
nor will you be able to attract potential buyers in your home’s condition is unsatisfactory.

Comparative Market Analysis and Appraisal Differentiated

The Comparative Market Analysis or CMA is the process of comparing prices as well as
conditions of homes that are similar to those that are currently being sold by other home
sellers, those that have been contracted, those that were not sold, and those that were
sold. This process is conducted by a real estate agent so as to determine the current value
of real estate properties within a particular area.

Appraisal, on the other hand, is the process of comparing the area of the property and
also its condition to another similar property, but not necessarily on the same locality.
The purpose of appraisal is just to validate the home buyer’s asking price. This process is
essential if the demand for homes is low while the supply is extremely high.

The key to selling a home is being able to set the right price for it and being able to keep it
in an excellent condition. This is the equation for home buyers, and this is what you should
always keep in mind.

When you get real estate agents to sell your home, you will be required to pay 6%
commission. 3% will go to the agent who is responsible in listing your home in the MLS
while the other half will go to the agent who is tasked to find a buyer and sell your home.
In this instance, you will be paying 2 agents.

On the other hand, if you prefer availing of a flat fee listing service, you will only be paying
a single agent. You will only have to pay the agent who will have your property listed in the
MLS. Given this, you’ll get to save a big amount of money.

If you want to have much bigger savings, you may opt for FSBO or For Sale by Owner. This
option will save you from paying a commission to a real estate agent, and this can really
mean an enormous cut on your expenses.

Actual Savings

For you to better understand how much you can really save from the different options, let
me give you concrete examples. For instance, you are selling your home for $300,000. If
you choose to sell your property in a traditional way, you will have to pay $18,000 all in all.
$9,000 shall be given to the listing agent and another $9,000 is for the selling agent.

As for the flat fee listing service, the commission that you’ll be paying will only be 3% that
amounts to $9,000. This time, only a listing agent shall be paid. This means that you will
be saving $9,000, which is a significant amount of money.

Lastly, when you choose FSBO, you will be saving a whopping $18,000 since you will not be
paying any real estate agents.

Getting a real estate agent is not the only choice you’ve got if you want to sell your home.
If you do not want to pay big commissions of agents, you may opt for the flat fee listing
service or FSBO.