Fair Housing Notice: Federal, State and Local Fair Housing Laws protect individuals from housing discrimination. It is unlawful to discriminate based on certain protected characteristics, which include, but are not limited to: race, creed, color, national origin, sexual orientation, gender identity or expression, military status, sex, age, disability, marital status, lawful source of income or familial status. Click here to read more. Click here to view the New York Standardized Operating Procedures.

Sandra McCarty

LICENSE: 10401298086


(516) 300-2427
(718) 341-9800 (Office)

My Blog

6 Steps To Selling Your House On Your Own - For Sale By Owners (FSBO)

Posted On: August 26th, 2019 3:35PM

Here are 6 steps to help guide you through the for sale by Owners (FSBO) process:

1. Think like a Salesman - Start detaching yourself emotionally from the property. A real estate pro looks at a house as structure, property and location without any thought to the specific changes you might have made like a backyard deck.

2. Research -- What are similar homes going for in the neighborhood? Do some online research about what homes have sold for in the past couple of years and most important, when they’ve sold. You may find that your neighborhood has a flurry of sales activity in spring or summer, which could affect your decision of when to hang up the “For Sale” sign. 

3. Get Help -- Depending on where you are, you’ll want to talk to a title company or real estate attorney about handling the closing. Ask to see the paperwork involved to familiarize yourself with it. The attorney or title company is really a good partner for you since they handle the complicated disclosures during the closing so you don’t have to.

 

4. Pricing – See what similar homes in your neighborhood sold for in the last 3 months.

5. Marketing Your Property
i) Yard Sign - Start with a professionally printed sign in the yard, designed to catch the eye of neighborhood hunters.
ii) Word of Mouth -- Phone or e-mail everyone you know and tell them your house is for sale. Include friends, relatives, even people you’ve exchanged business cards with at trade shows. 
iii) Advertise -- You can create a nice, free ad with pictures on Craigslist or publicize your home on web sites that cater to FSBOs like https://www.zillow.com/for-sale-by-owner/  and https://www.forsalebyowner.com. Post ads with pictures on public bulletin boards at grocery stores, gyms and workplaces.

6. Making the Sale - When you use a Realtor or agent, your job is simply to say yes or no to a buyer's offer, whom you often never meet. When you’re selling your house yourself, you’re doing everything, handling the open house, taking calls from buyers and brokers and negotiating. Here are some ideas to get a good buyer on the hook:

i) Be a Pro -- Keep paperwork like the sales agreements in a neat folder, be on time for appointments and look presentable when showing the house. Buyers aren’t expecting you to be a Realtor, but they’re going to want some confidence that you know what you’re doing.

ii) Look for Pre-Quals -- As you probably know, loans are tougher to get nowadays and a pre-qualified buyer is golden in the market. They know just how much of a mortgage they can acquire and they’re serious about buying, they’re not there to snoop around your closets and pantry. Let local mortgage brokers know about your place and ask for referrals from their pre-qualified clients.

iii) The Negotiation -- Here’s where it’s best to let emotions about the property go. At this point, you’re selling a house, not your “home.” If you get an offer that you feel is way too low, don’t get bent out of shape and slam the phone down. Take a deep breath and counter.

Add Comment