If your thinking of selling your home without representation (commonly know in the industry as FSBO) it is not as complicated or hard as it seems or sounds.  Some of my colleague, real estate brokers and I’m sure many real estate agents will cringe when they read this article. 

Let’s face a few facts about the process of selling a home on your own.  It does not take a rocket scientist to sell a home (I’ve been doing it for over 20 years).  What it does take is some good solid research (without personal attachment) a proportionally small amount of money and a fair amount of time.

• 1st and above everything else is price a point many FSBO’s set them self’s up to fail on.  If a property is not priced correctly (priced to high), it will not sell and there are many safeguards thought-out the system to prevent a home from selling at highly exaggerated prices. For correctly pricing real estate see “Market Value”. 
• 2nd is exposing the property to as many potential buyers as possible.  Typically a yard sign is only responsible for somewhere between 15-25% of all residential home sales.  While in itself that is a respectable percentage it still leaves upward of 75% of potential buyers unaccounted for. Newspaper ads produce a messily 10% or less and not unsurprisingly the internet comes in above 50%.  In fact the National Association of Realtors® has shown in many surveys that over 70% of all homebuyers start there home buying process on the internet. 
• 3rd is availability to potential buyers.  The real estate industry recognizes this and that is why they make your home available to potential buyers when the buyer is available to see it (seems like 24/7).  You will need to consider making yourself available by cell phone and the property available whenever a potential buyer is available (that’s sales).   Taking into a more refined consideration is the fact: As the market changes so will the above requirements. When the market is hot like it was a couple of years back everything is easier and more under the sellers control. When the market is slow or depressed the accurate application of all actions is most critical.  The property must be exposed to the world and available for showing 24/7 (so to speak) and priced at the bottom of or below “market value” if you expect it to sell. 

Note of caution:  Real Estate Fees are a value added or service preformed fee.  In essence an expense for a service provided.  The Market Value of your home is not derived from nor does it have any correlation to real estate fees.  If you are using a real estate broker, the fees you pay are for the services provided.  To discount your sales price because you do not have a Realtor® is an economic Faux pas, or more accurately put…a blunder with total disregard for the real value of the property.

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