For Sale By Owner tips needed

[Ashley Millar]

Give me your tips! I plan to sell a home this summer after the tenant moves out and I update the kitchen. My question is what do I need to know about listing the home for sale by owner? The home should sell quickly and I feel this will be a great learning opportunity to help gain experience in an area of real estate I'm unfamiliar with and it keep more money in my pocket.

[Mindy Jensen]

Hi @Ashley Millar. Disclosure: I'm an agent, but not in your state.

I have sold FSBO twice - once in an area where this was very prevalent, and the other where this was not the norm. Both homes were difficult to sell properties (a pool and a lake) and they sat on the market for a very long time.

Most buyers will be represented by an agent, so offering a commission to their agent, will get you more showings. 

If they are represented by an agent, do NOT be at the home when they are viewing it. Most buyers are uncomfortable when the seller is there, and they don't feel they can freely discuss the property if you are there. If you have valuables you want to protect, put them in storage before the showing or take them with you.

If your area is hot hot hot, then you will most likely have success at selling. If your market is cooler, you will most likely take longer to sell. 

To be honest, if you are unfamiliar with selling houses, your interests would be best protected by using an experienced agent. If you are determined to go it alone, please retain the services of an attorney.