The first week of having your FSBO home on the real estate market, is usually the most critical: you will receive the most interest, because the home is new to market. Capitalize on the excitement by checking off these critical must-dos for your home’s first week on the market and see how quickly you can change that “for sale” sign to read “SOLD”!
On average, a new home spends anywhere from 3-4 months on the real estate market before it is officially sold. Those days spent on the market (referred to as DOM or “days on market”) can drastically affect your asking price –especially if they stretch past those initial 90. There are a number of things you can do to ensure that you sell your home as soon as you can, and receive the price best.
Double-Check Your Listing
Maybe you submitted your home’s FSBO listing in a rushed-panic. Maybe it was a description you poured over for hours. Whatever the case may be, double-check your description to ensure that your home is listed with accurate information. We seen standard sales accidentally listed as foreclosed, and four-bedrooms listed as two. These small misprints can drastically affect the amount of interest your home generates, and ultimately, the price you receive for it.
Stage Before Showing
Hiring a professional home stager to show off your home’s best features is something you should do early on in your home-selling process. Though it can be hard to justify spending the extra money to spruce up your home at first, home staging costs can be well worth the spend! Staging your home is a small cost for FSBO sellers to give you a greater return on your home in the end. Home staging allows your home to be seen in its best light, enabling it to sell faster and for a better price. Bringing in a professional who can see your home objectively is the best way to go. A professional home stager will also be well-versed in small rearranging techniques and adjustments that really allow your home to shine at any budget. Check out these 5 keys to picking the perfect home stager.
Once you’ve decided to sell you home, it’s important to detach yourself emotionally from your house. This can be difficult, when choosing the For Sale By Owner route — it’s your home after all. Shift your focus to the end goal, finding a buyer who will take care of and love your house just as much as you did. Put your efforts into making your home look its best so that you can receive top asking price for it. Remove personal items and clutter from your home. When you show it, you want your prospective buyers to be able to imagine themselves living there (this is hard to do when your home is filled with your own family photos). Remember to not take low-ball offers as a personal insult; most buyers are simply looking to get the best deal they can.
Start Spreadin’ The News
This is an important point, especially when selling your home For Sale By Owner. Tell everyone you know that your house is on the market. Word-of-mouth is often the best way to reach potential buyers, and everyone knows someone who may be looking for a new home to call their own. Tell your family, friends, co-workers, etc. Don’t simply rely on the listing you’ve published. Take it upon yourself to do some marketing. Use your social media accounts to promote your home! Post drool-worthy photos of your house on Facebook and Instagram and tweet about upcoming open houses. Reach out to local newspapers and real estate blogs. Virtual platforms are just as good as real-life-word-of-mouth. Use all the tools in your wheelhouse to set yourself up for success!
Start Checking Off Your List
You’ve done all the work in getting your home market-ready, now it’s time to show it off to prospective buyers! Lean back and let the offers roll in!