For Sale By Owner

October 28, 2008 at 10:00 pm 3 comments

Thinking of putting your home on the market yourself and listing it as “For Sale By Owner?” As the real estate market slows there are some things you will want to ponder before you decide to sell it alone.

One of the most important things in selling real estate is determining the value of your property. There are many factors that affect the value of your home and it is important to consider these key factors when deciding on a listing price: Property size, condition of the home and any alterations, upgrades you¹ve made, including landscaping, neighborhood environment, comparable sales and the school district. All of these play a vital role in determining the price of your home.

If you aren¹t listing your property with an agent then you will need some assistance in understanding what part these factors play. The whole idea behind selling your home yourself is to increase your profit, so don¹t underestimate your asset and list it for the wrong price. Too high a price and your home could sit on the market for months. Too low a price, and you¹ve given your money away.

There are many home valuation tools that can help guide you to an appropriate listing price. Unfortunately, many of the online home valuation sites provide only generalized report estimating the value of your home by zip code or square footage with comparison to recently sold homes in your area. These valuations can be very deceiving because they are not based directly on your home and they do not consider all the important factors. It is important that you get an individual valuation of your property, which will include all of the key factors: Size, Condition, Location, etc.

Once you have researched the value of your home you may feel you are ready to list it as “For Sale By Owner,” it is important to first consider the potential pitfalls to selling your home without the experience of a real estate professional.

Selling your home on your own is a very time consuming and laborious task, particularly if you have a full-time job you also have to attend too. FSBO sellers need to be wary of bargain hunters that do not want to pay top dollar and easily convince you to accept a lower offer. If you are not an experienced negotiator, you may find yourself accepting less than you bargained for. Sellers will also need to study up on the legal issues that affect real estate transactions. As the market continues to slow in some states, homes are staying on the market longer. Owners attempting to sell their own homes need to be prepared for the fact that their home may be on the market for months or longer. In most areas the days of the fast market when homes were listed on the market for only hours or days are becoming much less common.

Working with an agent can help guide you through the difficult maze of real estate. After all your ultimate goal is to get top dollar for your home so why not use the expertise of a real estate agent to help you do that, and some real estate brokers are even open to negotiating commissions.

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Entry filed under: Home Values, Sell Your House, What's My House Worth. Tags: , , , , .

Home Valuation Calculator Owner Selling House

3 Comments Add your own

  • 1. Safe Real Estate Info » Blog Archive » For Sale By Owner  |  October 28, 2008 at 10:56 pm

    […] jonathanbentz wrote an interesting post today onFor Sale By OwnerHere’s a quick excerptThinking of putting your home on the market yourself and listing it as For Sale By Owner? As the real estate market slows there are some things you will want to ponder before you decide to sell it alone. One of the most important things … […]

  • […] jonathanbentz wrote an interesting post today onFor Sale By OwnerHere’s a quick excerptWorking with an agent can help guide you through the difficult maze of real estate. After all your ultimate goal is to get top dollar for your home so why not use the expertise of a real estate agent to help you do that, and some real … […]

  • 3. mn03  |  October 31, 2008 at 12:08 am

    I found a good website which provides great for sale by owner tips and information. Buy My Place allows you to buy or sell your own home online, without spending a fortune on real estate agent fees.

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