“For Sale by Owner” (FBSO) Mastery
What Are Some Tips for Selling Your Home “For Sale by Owner”?
These days, real estate agent commissions can get expensive — up to 6% of your home’s sale price in some areas. In Tulsa, where the average home sells for around $137,000, a 6% realtor commission can snatch over $8,000 out of the average homeowner’s pocket. Considering the potentially hefty cost of selling a house, you might be tempted to hang out a For Sale by Owner sign and list your property without the assistance of a realtor. But is that a good idea?
Selling a home FSBO by yourself is hard work. It requires substantial time, market knowledge, and even some upfront investment. But if you do it right, you can save yourself thousands of dollars on the sale of your home. If you’re determined to take the For Sale by Owner route, We Buy Houses Tulsa experts share several helpful selling tips below.
Price It Right
Listing your house as “For Sale By Owner” at the appropriate price might sound simple, but arriving at that price isn’t always easy. Pricing a home in the range at which it will sell requires market knowledge, appropriate timing, research, and, finally, a sprinkle of intuition. If you’re not well-versed in the real estate market, though, determining the right price can be difficult.
The first two to three weeks your house is on the market are crucial because that’s when prospective buyers will be most interested in the property. If you need to sell your house fast, listing it at an inappropriate price could leave you waiting on an interested buyer for months.
Prepare Your House to Sell
One of the most important things you can do to successfully sell your house on your own is to prepare the property. Proper preparation is the key to attracting prospective buyers, displaying the true value of your home, and selling your house for the price you want. Here are just a few of the many things you should consider doing to prepare your property to sell.
Declutter the Place
Prospective buyers must be able to imagine their own possessions inside the house so they can feel what it might be like to live there. As such, it’s best to declutter and organize your home before you begin scheduling showings. Remove nicknacks, excessive wall hangings, and any other highly personal items that can interfere with prospective buyers’ ability to envision their lives inside the home.
Clean It Up
No one wants to see a dirty house, so make sure you clean the place from top to bottom before you ever schedule a showing. When you clean, make sure you clean everything. If you’re short on time, hire professional cleaners to tackle the job for you.
Invest in Home Improvements
Even minor home improvements, such as fresh paint, new drawer pulls, and updated lighting, can go a long way toward making your home interior feel more cohesive, inviting, and appealing.
You don’t have to go crazy with making improvements — even an investment of a few hundred dollars can help. That said, if your house is in serious need of repairs or renovations, it can be very difficult to sell it For Sale by Owner. You’ll likely need to undertake major repairs or renovations before you list the property if you ever hope to sell it.
Stage Each Room
Before you schedule showings or an open house, take the time to dress your home to impress. Stage each room for maximum visual appeal by ensuring all decorative elements contribute to a cohesive design and inviting feel. A few simple things you can do to stage your house include:
- Rearranging furniture to create an open, inviting space
- Hanging new wall art that complements your furniture
- Incorporating new pillows, throws, and rugs
- Adding a few live plants to your interior decor
- Allowing plenty of natural light inside each room
Market Effectively
Last but certainly not least, to successfully sell your home For Sale by Owner, you’ll need to market it effectively. This means you should list your property in multiple locations, as well as create informational marketing materials to distribute to prospective buyers. Marketing tactics to consider include:
- Listing your property on real estate sites, including Zillow, Trulia, and Redfin
- Taking high-quality photos for your listing and brochures
- Creating information brochures to hand out at showings or open houses
- Creating and hanging flyers to advertise your for-sale house
- Posting a for sale sign in your front yard
When you sell your house For Sale by Owner, you won’t be able to list it on the MLS unless you have a real estate license. And since the MLS is one of the best places to market to prospective buyers, you could miss out on a lot of interest in the property.
That’s where a cash sale can work wonders. If you’re not keen on paying expensive realtor commissions, marketing your house, or putting in the substantial time and effort required to prepare the property, a cash sale might be your best bet.
Need to Sell Your House Fast?
If you need to sell your Tulsa house fast, our team at We Buy Houses Tulsa is ready to make that happen. We buy houses in any condition, for cash, and we can close on the sale in a matter of days or weeks, not months. Curious what your house might be worth? Contact us today to get the process started!