How can you sell a house FSBO?
If you decide to sell your house without the help of a realtor (FSBO–for sale by owner), it is crucial to first and foremost do your research on how the real estate industry works. This includes, but is not limited to, the following areas:
- Studying the economy and how real estate cycles work
- Knowing how to correctly price homes at a local level
- Have a solid understanding of how the mortgage process works
- Know why most buyers will work with real estate agents
- Understand how to list your home
- Research smart strategies for marketing your property
- Find out how to properly and effectively negotiate the sale of your home
- Know what to look for in legal paperwork
In addition to understanding the ins-and-outs of the home selling process, FSBO sellers should also acquire the basic skills a real estate agent would use on a daily basis. This includes some of the things listed above such as being responsive, communicating effectively, negotiating, and knowing what to look for in legal documents.