Tips For Idaho For Sale By Owner Homesellers
Whenever you sell your home sans a real estate agent, the process is known by the real estate industry as a for sale by owner, FSBO. Several reasons exist for a homeowner to sell their home on their own. For one, the homeowner can avoid paying commission to the real estate agent. In some cases, the extra few thousand dollars tacked onto the price can be the difference between a home that sells and a home that sits on the market for months at a time.
Idaho homeowners that choose to sell their homes using the FBSO method should familiarize themselves with the process before putting their home on the market.
Homeowners should also be aware that the process will require knowledge of the market as well as dedication and persistence in selling the home.
The first step necessary to sell real estate in Idaho is determining the value of the home. Knowing the value is necessary to determine the selling price of the home. Many homeowners do not pay enough attention to this step. Instead, they set their home price as a somewhat arbitrary number based on the price at which the home was purchases and an assumption that the home appreciated since its initial purchase. Since your home is not guaranteed to appreciate, this assumption may not be correct. More importantly, appreciation does not dictate the price of a home, the real estate market does.
The best way to price your home is to find out the selling prices of similar homes in your area that have recently been sold. These homes are the best indicator of the market value of your home. If homeowners are purchasing similar homes in your area at a certain price, you can safely assume that your home will sell for a comparable price.
Advertising your home is the next step after you have determined the selling price. Advertising through a FBSO website is a convenient and effective way to market your home. Using a website increases your home's exposure greater than traditional methods such as local newspapers and real estate magazines. That is not to say that you should forgo these traditional methods. Rather, you should employ all the methods at your disposal to improve the odds of selling your home.
You will start receiving inquiries about your Idaho home soon after you have begun your marketing efforts. Once you start receiving inquiries from prospective buyers you should be prepared to allow the buyers to view your home. It is best to prepare your house for viewing before you put it on the market. Since you never know when you are going to get the call for your first showing, it is better to be prepared than to lose a sell because you were not.