If you're planning to sell your home, you typically have one of two options: you can hire a real estate agent, or you can sell your home yourself. The latter, known as "For Sale By Owner" (FSBO), allows sellers to do all of the work themselves while bypassing the commission fees of a real estate agent, which typically range from 5% to 7% of the home's sale price. To learn more about FSBO tips, continue reading.
FSBO Tips for Selling your Home
Improve the Curb Appeal
Don't underestimate the importance of an attractive landscape when selling your home. Experts say that a good landscape can add up to 20% to a home's value. If your home is currently worth $300,000, professional landscaping may increase its selling value to $360,000. So, while hiring a professional landscaper costs money, you have to think of it as an investment.
The Price is Right
One of the hurdles faced by homeowners looking to sell their own is setting the right price. If you price it too high, it will make competing homes for sale in your area look more attractive to prospective buyers. Most professional real estate agents agree that overpricing is the single most common mistake made by FSBO sellers. On the other hand, however, underpricing your home can be equally as a bad. You obviously want to get top dollar for your home, so you must find a balance when setting a sale price.
In addition to landscaping services, you should also consider hiring a professional "stager" to prepare your home for presentation. The International Association of Home Staging Professionals (IAHSP) has a directory of professional home stagers, which you can hire for a 2-hour consultation for about $200 to $400 -- a small price to pay considering the expertise they bring to the table. Staging your home makes it more appealing to prospective buyers, allowing you to sell it more quickly and for a higher price.
FSBO is a Lot of Work. Is it Worth the Hassle?
Of course, selling your home isn't an easy task, which is why many sellers prefer to hire a professional real estate agent. You must be set aside time out of your schedule to show your home to prospective buyers, respond to and negotiate offers, and handle the stacks of the paperwork that are required when selling a home. All of these tasks can be time-consuming to say the least, and many sellers don't have a lot of free time when they are preparing to move.
This article was brought to you by Premier Island Properties - A full service real estate firm serving Hilton Head Island and Bluffton, South Carolina. For more real estate news, information, and interesting facts about the Lowcountry, please visit our website.
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