Selling Your Own House in Shreveport or Bossier City

Devereux Appraisal Co. LLC

When you're selling your home you want to save money any way you can. One way to do this is to avoid paying a real estate agent commission and sell your home yourself. For Sale by Owner (FSBO) is a popular method for sellers to save money and for buyers to get a good deal. A real estate agent will charge between 5 to 7% commission as opposed to a listing agent who charges only 3% or less. This adds up to a substantial savings. For example if your home is listed at $300,000 you could pay a real estate agent up to $21,000 in commission. If you use FSBO listing agents you can cut this down to $9,000 or less - a savings of over $10,000. Selling your home yourself can be a stressful time and it can be overwhelming. Before you jump on the FSBO bandwagon, there are some insider tips you should know to make the process easier and less stressful on you.

Keep Your Emotions Out of It

You may have lived in your home for quite some time and raised your family there. Or it may have been your first home after you got married and you just started out in it. No matter how long you have lived in your home, when you decide to sell this decision comes with many emotions attached to it. As you are showing your home buyers may make unflattering remarks about it and point out imperfections in an attempt to get you to lower the price. In order for you to stay objective when you are showing your home you have to think of it as "just a house". Realize that the potential buyers aren't attached to your home and they don't feel the same way you do about it. Removing your emotions from the selling process is the only way you will be able to keep a level head and make the necessary decisions you will need to make to get a fair price.

Know Your Area

Yes you think your house is the best one on the block, but face it - it may not be. Look around at homes in your neighborhood and town to see what they are listed for. Get on the internet and do comparisons and be realistic. If you price your home too high it will sit on the market too long and if you price it too low you're cheating yourself. The local paper is another good resource for you to use in your research. Drive around and check out your competition. You can even go to open houses to see how your home compares to what is already on the market.

Get the Word Out

There are several ways to get the word out about you home. You can use flyers, take out an ad in the local newspaper, use your Facebook page and set up a website where potential buyers can take a virtual tour of your home. Virtual tours are great tools and buyers can look at your home without ever leaving theirs. This gives them a chance to see if they want to come in and take a physical tour. Post pictures of your home on your Facebook page to spark interest and include a short blurb about it. Encourage people to message you if they are interested in setting up a time to come and view your home.

Be Smart and Be Safe

Think about it, you're opening up your home to complete strangers. You need to ensure the safety of your family and yourself. Always get their full name and phone number before you agree to show your house. Make a follow up phone call to confirm the time and date and have someone with you when you show it. Be careful about drop-in showings. Get their name and phone number and tell them you will call them to set up an appointment. If they are serious buyers they should be agreeable to this, if not this may be a warning flag.

Follow these tips and you will relieve some of the stress of FSBO home sales. Selling your home yourself can save you money and you may get a better deal than if you used a real estate agent. Do your homework and research the process and you too can take advantage of the FSBO process.

First Step in any For Sale By Owner situation:

Get a full real estate appraisal. They are inexpensive, excellent documentation, and can help you nail down a sales price. It's so common for those selling their own home to UNDER-value their home, that you'll see some FSBOs move within weeks, but have a feeling they undersold. At the same time, a lot of FSBOs sit on the market for months, because they are over-priced and, if the owner had a professional appraisal of the market value, they'd probably accept the difference. Rule #1: Get the appraisal. Rule #2: Get the appraisal. Rule #3: See Rule #1.

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Devereux Appraisal Co. LLC: www.shreveportbossierappraiser.com

Justin D. Smith, SRA