You’re getting ready to sell your home, and you want to make the most out of your real estate investment. But how do you make sure not to make any missteps that have caused other For Sale By Owner (FSBO) listings to fail? This post outlines 5 big FSBO mistakes that can cost you big at closing and teaches you how to avoid them.
- Mistake #1: Overpricing Your Home
You’re proud of the house that you have, and the memories and improvements you’ve made over the years. Of course, to you, that adds value to the property. But to others, it’s just a house.
That’s why it’s critical that you don’t set the initial listing price too high. It’s tempting to list at what you feel like your home is worth, but you need to use comparable data from similar homes in your neighborhood when setting the price. You can price it to sell without losing out on your investment.
- Mistake #2: Missing Out on Marketing Opportunities
People need to know that your house is for sale in order to buy it, but if you don’t post it where poeple can find it, you’ll have a hard time generating interest. In order to reach as many perspective buyers as possible, start out by listing your home on the MLS, adding your listing to popular real estate sites, promoting your home to your network and
- Mistake #3: Forgetting to Take Down the Picture Frames
When you get ready to list your home, you have to turn it back into a generic house. Neglecting to take down personal artifacts and photographs makes it difficult for buyers to imagine their own lives in your space.
- Mistake #4: Taking Low Quality Photographs
Take photos of each room in your home when there is plenty of daylight, and try to use the best camera you have available. The more photographs you take, the more buyers you will attract.
- Mistake #5: Avoiding Social Media
Use social media to your advantage. Advertise your property on Facebook, tweet about the fact that you just listed your home. Social media is a powerful and useful tool when it comes to selling your house on your own.
Avoid these mistakes, and you’ll be putting a “Sold” sign in front of your house in no time.