Trying to Sell FSBO? Successfull Seller Secret Revealed   by Deane Alban

I believe everyone with a house for sale would sell "for sale by owner" if they thought they could do it successfully. Think how hard most people try to save money. They clip coupons and look for sales. They drive by gas stations looking for the best price on gas. They comparison shop to get the best rates on their investments, mortgage, long distance coverage, and insurance, just to name a few. Clearly, no one wants to spend an extra $10,000, $20,000 or more on a real estate commission if they don't have to. Statistics clearly show that most people don't think agents earn their money. So why don't more people try selling FSBO?

There are people that don't believe FSBO is a possibility for them. These people wisely at least realize that "they know what they don't know". They realize there are gaps in their knowledge, they think it will be too hard, and they are afraid of messing up something so important. They may have heard someone's "FSBO horror story". Or they use a real estate agent because "that's what everyone does".

Then there are the people that try and fail to sell their own house. Sadly, there are a lot of unsuccessful FSBO sellers. The vast majority of them put up a "for sale" sign, maybe flat fee list on MLS, and try to wing it from there. Most people "don't know what they don't know" until it's too late and they've created a mess.

And then there are the successful FSBO sellers. A successful sale doesn't just happen. Success in anything rarely "just happens". The one thing successful FSBO sellers have in common is they realized they needed to get educated on the entire selling process. They understand what it takes to succeed and they do it.

And what does a successful FSBO sale mean? It's not just about getting your asking price. It might be a little different for each person, but when I am selling a house, to me it means I:

- Get the price I want

- Sell fast

- Am not hassled or stressed during the sales process

- Find buyers who love the house, can get financing, and are easy to work with

- Get the move-in date I want

- Have a smooth escrow process and closing

Now let's look at what successful FSBO sellers know and do in common to increase their chances for success.

- They know what it takes to get their house looking and functioning its best to attract buyers. Then they take action promptly and do what needs to be done. They don't market the house or show the house to anyone until it's ready.

- They understand the value of their house making an excellent first impression.

- They have figured out how to decide on the best asking price for their house.

- They understand basic real estate vocabulary.

- They know the best places to market their house to find buyers. They have a complete FSBO marketing plan in place and follow it. They expect to spend a little money in the process.

- They have an eye-catching"for sale" sign and have created a great looking color information flyer for their house and keep their brochure box full.

- They handle all inquiries about their house professionally and promptly. And they know how to not waste time with unqualified buyers or tire kickers.

- They understand how and why to only work with preapproved buyers. They understand how working with a mortgage broker can help them find qualified buyers.

- They know how to talk to buyers and negotiate. They know how to find win-win solutions for all seven terms that must be agreed upon before a contract can be written. It's not just about price.

- They are flexible and able to think creatively. The understand how options such as owner financing or lease option could work for them and their buyers.

- They have found a real estate attorney to work with, that specializes in residential home sales. They have a sales contract and all the required disclosures for their state.

- Once they have a signed contract, they know what to expect and understand the roles of all the important players during escrow - the buyer, their lender, the title company or real estate attorney, the appraiser, and home inspectors. They understand that the selling process is not always smooth. They know to stay calm and how to work through any issues that arise to keep the deal from falling through.

- They are aware of what needs to be done prior to closing and do it. They know what to expect at closing so there are no last minute crises.

And uneducated FSBO sellers gives the rest of the us selling FSBO a bad reputation. Many real estate agents understandably don't even want to show houses that are being sold "for sale by owner" because they think they will have to do twice as much work. In many cases they are right. It is an unfair burden for the buyer's agent to have to hold the seller's hand and educate them through the selling process.

So if you want to sell "for sale by owner" successfully, take the time to learn what you need to know. Don't be an uneducated FSBO seller!