For Sale By Owner
FSBO

Like thousands of other homeowners, you want to sell your home.

Except unlike most of them,
you want to sell is yourself,
without the use of a realtor.

Why? Probably you want to save the commission.

We are not like most realtors® that will try to convince you that selling your home yourself is impractical. In fact, if you are willing to learn the process, and invest the time and money to do it, you can sell your home yourself, and save thousands of dollars in real estate commissions.

This Report Will Show You How,
Step by Step!!

Before we start, I know you may be thinking …

“Wait a minute, why in the world would a realtor® want to show me
how to sell my home myself?”

Here is the reason why:

The facts are that about 90% of all the people that put their home up for sale by themselves eventually end up listing with a realtor®.

If your situation changes and you decide to list with a realtor®, I hope you will allow us to show you our marketing plan and that you will at least consider us for the job.

If you are successful selling you home yourself (and your chances are excellent with the tips in this report), experience has proven that you may remember the help we provided and give our name – America One Real Estate – to others who might need our services. So we actually hope that you do achieve your goal and sell it!

So there you have it, pure and simple.
Now let’s move on to the real task at hand …
getting your home sold!

Studies have shown that home sellers want three main things:

1. To sell their home for the highest possible price,
2. within the time frame they need,
3. with the least amount of hassle and inconvenience

If you are like most sellers, you probably want the same things. Only since you are selling it yourself, you are willing to give up some on number three, because you are going to have to take on the work that a real estate agent would normally do. It can be a very overwhelming task, so the best way is to learn and understand the Six Step Home Selling Process.

Six Step Home Selling Process

Step 1 – Understand Market Conditions and Pricing Your Home

This by far is the most important, yet most often misunderstood step.

Failure to understand the market and properly price your home is the single biggest factor that will cause it to NOT SELL for top dollar and sit unsold for months on end.

To properly analyze your current market conditions, you will need to research homes currently available, under contract, and recently sold in your area. There are several ways to get information on homes that have sold.

The first way is to do the research yourself. The sales prices of home that have sold and closed is in the public records, so you can go to your county records office, or internet, and find the information.

You can also give us a call. We will provide -free of charge- a market analysis of your area including available, under contract and closed homes, average price per square foot and average days on market.

Once you have the market information on homes in your area, take some time and drive around the area, stopping in front of the homes on your list. Make notes about appearance and other details of the homes. If any of the available homes are having an open house, take a look inside.

This driving around is an important step, because it gets you more familiar with the market, and will help you make a more objective decision on pricing your home.

Next, review the data and make honest, unbiased comparisons based on criteria such as:

Now move on to the pending and closed sales. This is the real bottom line. It is the reality of what buyers were willing to pay and what sellers were willing to sell for in a free, open market.

Identify the homes that are similar to yours, ones that are nearly the same size, style, etc. Then look for items that are different like a remodeled kitchen, pool, etc. and make adjustments for price.

It is natural for every homeowner to have a certain “pride of ownership” and to think that their home should be worth more than the one down the street. This is where you must be objective and try to take your emotional attachments to your home out of the situation.

You must be reasonable. If you price your home too high IT WILL NOT SELL! It will sit on the market for months on end, getting the reputation of a “problem property.” People will assume that since the home has not sold, there must be something wrong with it. Even if you then drop the price, the damage is already done and you may need to drop the price even further to entice skeptical buyers.

Improper pricing is the single biggest mistake that seller make. Don’t let this happen to you. Make sure that you set a reasonable price for your home right from the start.

Once you determine the proper price for your home, how quickly you want to sell will determine whether you price at the lower or higher end of the price range. This is where you own time requirements come into play. You own personal situation will have some effect on the price you ask for your home. It is easy to see that if you need to sell your home with 4 days, you would have to price it lower than if you had 4 months to sell it.

Step 2 – Calculating Your Bottom Line

Once you have determined a fair market price for your home, you can calculate your bottom line. This is the amount you will net after paying all the expenses associated with selling a home.

Closing costs vary and also depends on how you sale contract is structured. The following are some items you may need to deduct from your sales price to determine your net proceeds:

For a list of specific charges, you can contract a Title Company, mortgage lender or real estate attorney.

Step 3 – PREPARING YOUR HOME FOR SALE

Properly preparing your home for sale can make the difference between a quick sale at full price, and a home that sits unsold for month…even after several price reductions.

Buyers buy what they see. If what they see is dirty, messy, and worn looking, you don’t stand a chance.

The objective is to make your home appear well maintained, spacious, organized and clean. Many factors such as how light it is, color, sounds, and smell subtly effect the buyers impression of your home.

Start with the overall appearance of the exterior of your home. Good “curb appeal” will make the critical proper first impression. Remember, if a home is unattractive from the outside, buyers won’t bother to see the inside!

This means well groomed, healthy looking lawn, trees, shrubs, and flower beds. Check the driveway and clean any oil stains and move old vehicles, trailers or boats off the premises to a storage facility.

Replace or repair any loose or missing roof shingles or tiles. If needed, replace or repaint the mailbox. Your front door is a focal point of potential buyers. Make sure it is scrubbed clean or completely refinished if necessary.

Fix any broken windows or screens. Completely repainting the exterior of your home may be necessary if it is peeling or blistering, but often simply doing the trim, windows sashes, shutter and garage door is sufficient. Remove all debris and clutter from the backyard. Clean and neatly arrange any lawn furniture, barbeques, etc.

Next move to the inside of your home. Begin with a complete scrubbing of every room, nook and cranny. Be especially diligent in the kitchen and bathrooms. A fresh coat of paint will make the home look bigger and give a “new” smell. It doesn’t cost that much and makes a big difference in buyer perception. If not, do a thorough job of touch-up painting. CLEAN HOUSES SELL!

Have the carpet cleaned. If it worn, replace it. This is a fairly big cost, but it makes a huge difference in how the home shows. You should more than make up for the expense with a faster sale at a higher price.

Clean all windows and curtain/blinds. Clean out the closets to make them look bigger. Install the highest intensity bulbs allowable in all the light fixtures. This will make the rooms appear larger, brighter and more cheerful.

Clean all the heating/cooling system vents and replace the filters. Fix or replace all of the little things you have bee meaning to get to. Make sure that everything is working properly (toilets, appliances, doorbells, etc.)

Consider having a huge garage sale. Not only will you reduce the clutter in your home, but you can use the proceeds to pay for some of touch ups and repairs.

If you smoke, DO NOT SMOKE IN THE HOUSE! A smoky smelling house turns buyers off – even buyers who smoke themselves.

If you have pets, you’ll have pet odors, whether you notice them or not. About 25% of prospective buyers will not consider a home with pets in it – either because they have allergies, or simply think it is dirty. Plus, a dog barking, sniffing and scratching hardly make a potential buyer feel relaxed and comfortable.

Clean, organized, clutter-free homes are always the first to sell. It can be a lot of work, but it will be worth it.

Step 4 – MARKETING AND SHOWING YOUR HOME

Now that your home is ready, its time to find some interested buyers to show it to. The effort required to attract potential purchasers depends on the current market conditions in your area.

If you are in the midst of a sellers market where there is a shortage of homes for sale, simply putting a FOR SALE sign out in the yard can produce a frenzy of activity.

Unfortunately, most markets are nowhere near that good, so you better plan on putting in some long hours. You are competing with all of the other homes for sale, and the competition is often fierce.

The first step in your marketing plan is to put up a FOR SALE sign in the front yard. Invest some money in a nice looking, quality sign that will last longer than the first rain storm.

Next, put together a professional looking brochure/flyer that communicates all of the features and benefits of your home. Include a nice picture of your home and touch on such items as proximity to schools, shopping, major transportation routs, recreational areas, etc. Also cover neighborhood amenities, age, appearance, condition, bedrooms, bathrooms, landscaping, garage, kitchen, family room, laundry, pool/spa, etc.

Don’t forget financial information such as the price, year round expenses, property taxes, what items are included in the sale (such as appliances, drapes, etc.) and of course directions to the house along with your name, address and phone number.

Once you have your brochure/flyer, you need to have a weatherproof information box to put them in next to (or attached) the yard sign. Monitor the box and keep it full.

Also pass out the brochure/flyer to all of your friends and neighbors, pass them out at area businesses and put them up on bulleting boards wherever possible.

Now write a good, enthusiastic sounding advertisement to run in the newspaper. Test different ads and see what the responses are. You can try running a different ad each week or a different one in separate publications. The whole purpose of the ad is to get your phone to ring.

The biggest complaint buyers have with for sale by owners is that no one answers the pone when they call or they get someone that is not prepared to handle the call properly. You need to be home or utilize a cellular phone.

Keep a copy of your brochure next to the phone, it can help you stay organized and not miss any features when callers inquire. If callers don’s want to set an appointment yet, offer to mail them a brochure.

An OPEN HOUSE can help you get your home exposed to the market. Get some directional OPEN HOUSE signs and place them at corners leading to your home from major streets and one in front of your house. Make sure to check local regulations before placing signs.

Once you have attracted interested buyers, its time to show your home. This is where all your time and effort in preparing your home will really pay off.

A few words of caution. People are not always who they seem and you can never be too careful. It is recommended that you ask for identification prior to letting strangers into your home. Stash all small valuables out of sight. Even though you will try to stay with the buyers as they tour your home, you never can watch them completely.

OK, its Show Time!

To get the most out of every showing, there are certain procedures you should follow, both prior to the buyers arrival and after they come in.

Shortly before the appointment, open all of the drapes and blinds and turn on all the lights… even in the daytime. Turn off the TV. Set the thermostat so that it is not too hot or cold. If you have pets in the house, get them out and freshen the air. Make sure all of the beds are made and do a quick pick-up throughout.

When buyers arrive, your home should sell itself. Be friendly and cheerful and try to make them feel comfortable. Hand them your brochure and take them on a tour of the property.

Show the most appealing parts of your home first. Casually point out the features and benefits of your home, but don’t oversell.

If they are not interested, they will probably thank you and head for the door. Don’t take it personally, the layout or something else about the house probably just doesn’t fit their personal needs.

If the buyers are interested, you will know it. They will stay longer and ask lots of questions. If they show serious interest, don’t be afraid to suggest that they buy it!

It’s time to get a signed contract.

Step 5 – NEGOTIATING AND CONTRACT

Being familiar with the market conditions and knowing your personal motivation to sell will guide you in the negotiations.

Get a standard real estate purchase contract and make sure that you are completely familiar with it and how to fill it out. Review it with a real estate attorney if you are not comfortable.

Before or at the time a buyer signs a sales contract, the seller must disclosures certain facts about the property. These disclosures include:

Generally, the buyer will present you with an offer for you to consider. Only written contracts for the purchase of real estate are enforceable, so make sure it is in writing, not merely verbal. The buyer may not have the proper forms, so make sure to have several contracts ready to go.

Make sure to spell out every little detail in the contract. A misunderstanding (honest or otherwise), could end up costing you thousands of dollars and keep you house off the market for some months.

When you are presented with an offer from a buyer, you have three basic options:

1. Accept the offer
2. Reject the offer
3. Make a counter offer

Here are some items you should consider when deciding how to respond to an offer that is presented to you:

Contingencies may seem like minor issues, but they can be a major stumbling block. A contingency means that something else must happen in order for the deal to go through. A purchase may be contingent on the buyer getting approved for financing, selling the home that they already own, getting a favorable inspection report, or any number of other things.

Make the contingencies as specific as possible and spell out exactly what will happen if the contingency is or isn’t met. Spending some extra time to make sure that the contract is “clean” can save you enormous headaches down the road.

Once you have a provided all disclosures and a mutually agreed upon and signed contract by all parties, take it with the buyer’s earnest money to a Title Company or real estate attorney.

Step 6 – CLOSING AND MOVING

Once all the terms and conditions of the contract are agreed upon by you and the buyer, you will really need to stay on top of things on a daily basis. You will probably be dealing with a mortgage company, title company or attorney, appraisers and inspectors among others. Make certain that the buyers credit report and other financial information is OK, and that all deadlines and contingencies are met.

Make sure that everything is in order BEFORE you start loading things into the moving truck. You don’t want to have to put the house back on the market after you have moved out! Plus, once you move out, the buyer has a lot more leverage to get you to alter the contract in their favor.

Don’t forget the little details like transferring the utilities out of your name and change of address for U.S. mail and newspaper.

CONCLUSION

There you have it. If you have taken the time and energy to handle your sale properly, you will be rewarded with a nice proceeds check from the Title Company.

I hope you have found this report to be a valuable source of information to aid in selling your home yourself. If you follow the tips and recommendations outlined here, you will be way ahead of most others attempting to sell their home.

Every home sale is unique, so if you have any questions that we can help you with, please don’t hesitate to call.

Good luck and happy selling!