You CAN Sell Your Own Home - Follow These 10 Steps
The 2004 National Association of Realtors study reports that 14% (1 in 7) of all nationwide real estate transactions are For Sale By Owner (FSBO). FSBOs are much more competitive and sell faster when priced correctly.
| Agent-Listed | FSBO | |||
Asking Price |
$421,000 | Market Value |
$400,000 | |
-5%=Sales Price |
$400,000 | -2.5%=Sales Price |
$390,000 | |
Paid by Buyer |
$400,000 | Buyer Saves |
$10,000 | |
Commissions |
$24,000 | Commissions |
0 | |
Net to Seller |
$376,000 | Net to Seller |
$390,000 |
Looking at the numbers to the right, you'll see that the same house, sold FSBO, has an asking price of MORE THAN $30,000 (7%) less than if it was listed with an agent - while the seller and buyer still make more money. This lower, accurate price can take haggling out of the deal and sells your home faster.
Both the seller and buyer save the $24,000 in commissions that would otherwise go to real estate agents.
Use our links & information in the steps below to help find your home value, get paperwork together, and deal with time, safety and screening of buyers.
No one knows more about your home than you do.
How to Sell Your Home in 10 steps - INTRO
- Price your home properly
- Gather paperwork and partners
- Clean & Stage your home
- Advertise your home
- Setup showings by appointmen & open houses
- Receive written offer & earnest money
- Arrange with title company
- Home Inspection & amendments
- Move final items out; buyer walk-through
- Close & take your check to the bank!
Selling your home is a process - it will take time and commitment from you - you will be acting as the real estate agent for your home sale - but it can be done, and it is absolutely worth it.
At the bottom of some pages in this section will be "Frequently Asked Questions" - providing information and some responses to questions sellers often have about this process.
