Archive for March, 2009

Selling Your Home? Here are Some FSBO Tips

Friday, March 27th, 2009

When a buyer is considering to buy a house, the condition is of course one of the top priorities. This is evident in how your FSBO home looks like, so it is highly important for you to make sure that you don’t shoo away prospective buyers with the appearance of your FSBO home.
Here are five tips to increase the value of your FSBO home.

  1. Clean the windows and gutters. Dusty windows and overflowing gutters are plain unsightly. This gives buyers a bad impression on your FSBO property.
  2. Pressure-wash your siding if it is made of vinyl. You can contact home improvement stores to rent a pressure washer. This is so that the appearance of your FSBO home would be more appealing to customers.
  3. Do not neglect the landscape. The outside of your FSBO house is just as important as its inside in terms of first impressions. Do not shoo away prospective buyers by neglecting the appearance of your lawn or garden. Water your lawn regularly and make sure that the grass is always trimmed. Clear your driveway and walkway of any weeds that may make it unsightly. Lastly, lay down some sod to patches in your lawn. Although this can be a little more expensive, it can well be worth every penny you pay as it helps you increase the curb appeal of your FSBO home.
  4. Consider planting flowers in your garden. The appearance of your FSBO home can really be improved by flowers. It can attract buyers and can put a premium on your property. Consider getting brightly colored flowers in earthen vases or other kinds that would complement your home.
  5. Never neglect the little things. Probable the most essential factors in adding curb appeal to your FSBO home is very much affordable. Pain your mailbox, add a brass knocker or an attractive décor to your front door, or install new lighting fixtures in your lawn or garden to add some attitude to your home.

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Profits of Selling FSBO

Friday, March 6th, 2009

Homeowners who choose to sell their homes as FSBO usually wants control over the marketing of their home. Selling FSBO homes is not for homeowners that do not want complications for it is a very daunting process. There are a lot of requirements and legal forms needed that vary from state to state. So why are there still a growing number of properties for sale by owner?

There are a lot of benefits, here are some:

  • Many companies are now offering what are called FSBO KITS. These functional gear provide FSBO realtors with necessary legal forms, preparation and filing guidance for homes for sale by owner.
  • There are simple or basic FSBO kits that contain necessary forms and some needed instructions on how to fill them up and file them. But there are complete FSBO kits that include all needed forms, filling out and filing instructions, for sale by owner home preparations, tips on FSBO advertising and even listing service contacts.
  • There is now an INCREASING DEMAND AND SUPPORT for FSBOs. Besides the growing number of buyers actually looking for FSBOs, the emergence of an FSBO support industry motivates more to sell homes for sale by owner. Though the services are with fees it may be worth it. Then, daily papers and even magazines are now offering advertising packages for FSBO realtors.
  • As mentioned earlier, FSBO sellers want CONTROL OVER THE SELLING PROCESS. The FSBO sellers choose to be more personal and more hands-on when marketing their home. They want to encourage buyers from their insider’s point of view rather than a real estate agent’s outsider view.
  • And the most common reason for selling a property by owner is that it SAVES REAL ESTATE COMMISSION AND OTHER FEES. It is more fulfilling for FSBO sellers to know where their money is actually going: into their own accounts not to an agent’s commission. Though FSBO sellers may not be definite on how much they save for not hiring a realtor, if they know the process and have done it correctly they will surely save something.

With just some research and proper utilization of an FSBO kit, selling one’s own home by owner may be fulfilling.

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How to Market FSBO Homes with No Delay, for Top Dollar

Thursday, March 5th, 2009

The most common reasons why people choose to move into a different place: a job promotion in a different area, a job opportunity in a bigger city, or just discontentment in the current living condition. What comes with the change of relocation is the need to sell a home by FSBO.

So what should an FSBO realtor consider so that a for sale home by owner will be sold off at a great price? ANSWER: the owner must know the right price range for the FSBO home.

But how does a homeowner determine the correct sales price range of his home?

First, know how much time is needed to sell the FSBO property. For properties for sale by owner that is to be sold at a real estate’s quick turnaround time, the FSBO realtor must price the home lower than the current price range according to the comparable market analysis or CMA. Buyers tend to be attracted to lower priced homes, this means faster selling.

Then, know the home’s current condition. Can the FSBO home compete with the homes for sale in the area? Is it in better condition or with new upgrades? Better looking houses for sale by owner can still sell for great values. But some can sell well if the FSBO is marketed as a fixer upper or a for sale home that needs some repairs. Buyers consider fixer uppers as good deals. To be sure of the repairs needed the homeowner can hire a certified or insured property inspector.

Lastly, consider sales price negotiation. Prospected homebuyers usually ask for 1 to 6 percent off from the actual listing price. So to offset this, the home owner must list their FSBO property a little higher than what is recommended. Another smart strategy is listing homes for sale by owner with a $999 tack may make a buyer feel that they are actually dealing below a thousand dollars.

Always remember to consider the market conditions for it dictates the FSBO home value. If the market is doing good, FSBO homes can be sold even in higher prices. But if the market is not too well, put the best price for the FSBO first as it will save time and money.

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A Realtor and FSBO Face Off

Monday, March 2nd, 2009

Using the average realtor that sells 3 homes a year, we can do a face off against an FSBO seller. Here are the arguments of comparison:

Can Realtors really put a more accurated home value than an FSBO seller?

Realtors

Realtors have available resources. A part of their work is to know recent home sales and know available homes in the market. With this knowledge, they can accurately predict how much and how fast a home could sell.

Seller of a Home For Sale By Owner

FSBO sellers used to base their home’s value by gut feeling. They used to be inaccurate by basing on the current price of homes in the market. But with the availability of $16.95 resources online, FSBO sellers even out the competition. With the same information a realtor have they can sell as accurately as the realtors.

Who wins? No one for it is a TIE

Do Realtors negotiate than an FSBO seller?

Realtors

Their plus in this category is experience. Negotiations take into account pricing, repairs, time and other small details usually overlooked by inexperienced FSBO sellers. Realtors have an unbiased point of view of the property so they can see which repairs are to be shouldered, which are to be settled with money and which should be skipped.

FSBO Seller

Let us admit, it is hard to compete with experience. But if FSBO sellers weight their options carefully, they can get a great deal too.

Who wins? The Realtors.

Can Realtors sell a home at a higher price?

Realtors

The National Association of Realtors says that realtors can sell homes 16% more than for sale by owner sellers. This may be due to their accurate pricing which they got from their data resources.

Sellers of FSBO

As mentioned, accurate pricing is the key to better valuing of a home for sale. Aren’t the resources available to the FSBO sellers too?

Who wins? No one. It is a TIE again

Can Realtors sell properties faster?

Realtors

With their accurate pricing, greater marketing and house marketing, they may appear to take this lead. Their main marketing avenue, MLS, feeds listings to the top real estate in the world, realtor.com. MLS is only accessible to realtors.

FSBO sellers

There are for sale by owner websites too. These sites syndicate listings to different real estate ad sites. Then with around $299 to $499, a realtor can list an FSBO on the local MLS and realtor.com on a flat-fee deal. The seller must just be prepared to pay the buyer’s agent with 2-3 percent commission.

Who wins? A TIE if the FSBO does not utilize MLS. FSBO seller if with flat-fee MLS.

Conclusion

With the availability of necessary resources through the World Wide Web, FSBO sellers can compete with realtors in terms of selling their own home quickly at a reasonable price. Realtors are for those who can spare dollars to sell their home without stressing themselves. But for those who can not afford a realtor, the internet can help them learn the necessities of real estate and earn much from their old home.

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