How to List a House For Sale by Owner (FSBO)

A Step-By-Step Guide

An owner often decides to sell the property through the FSBO route to save agent fees and to be in more control over the selling process. Though this route should be cautiously approached, it is surely doable once careful planning and preparation are considered to market your property and attract the right buyers. Here is a step-by-step guide on how to sell your house without an agent. 

Prepare Your Home for Sale The first and foremost thing is preparation—your home should be at its best before it hits the listing. This may involve:

• Cleaning and decluttering: A clean and uncluttered home will be more attractive to any buyer.

• Repairs and maintenance: Take care of obvious repairs such as leaky faucets, broken fixtures, or peeling paint.

• Staging: If possible, stage your home with minimal, stylish furniture and décor to show off the full potential.

• Curb appeal: Make the outside attractive. This may mean mowing the lawn, painting the front door, or even planting flowers.

Price Competitively Priced correctly, your home should sell in no time. In determining an ideal listing price:

• Research local real estate markets: Also called "comps," research homes in your area that have recently sold and are substantially similar to yours.

• Consider hiring an appraiser: The appraisal can provide you with a professional assessment of the value of your home.

• Use online pricing tools: Sites like Zillow or Realtor.com have some great pricing calculators that will help you make an informed decision.

Professional Photos High-quality photos can make quite the difference in generating interest in your listing. If possible, hire a professional photographer or take them yourself with a good camera and proper lighting. Make sure all the rooms are well-lit, clean, and accenting the best features of your home.

Create a Compelling Listing Description Your listing description should accentuate the positives. Remember to keep it professional with a friendly tone, but focus on that little something special about your property. It should include the following:

• Number of bedrooms and bathrooms

• Total square feet of both the living space and the parcel size. Do some research with your County Assessor (online).

• Highlight unique features to include items like a kitchen remodel, large backyard, views, and energy-efficient appliances.

• Proximity to local amenities—schools, parks, shops, etc.

Multiple Platform Listings

• Multiple Listing Service (MLS): Though FSBO homes generally do not appear on the MLS, there are several websites offering a flat fee to get your property listed on one.

• Sites offering real estate: Such sites as Zillow.com, Trulia.com, and FSBO.com charge nothing or keep costs low to sellers for listings.

• Social media: You should share your listing on Facebook, Instagram, and all other social platforms to increase views.

• Yard signs: Sometimes a simple "For Sale" sign has great potential. Many buyers find their houses via a drive-by.

Hold Open Houses and Showings Be prepared to schedule and host open houses and private showings. Here's how to handle them effectively:

• Be flexible in showing, allowing for your schedule to accommodate prospective buyers.

• Prepare handouts on your home, including your asking price and some of the key features.

• Keep the house clean and fresh-smelling right before every showing.

Negotiate Offers If an offer arrives, it is time to negotiate. Even without an agent, you can handle this process with ease:

• Review each offer carefully. Besides the price, consider the contingencies, closing dates, and financing.

• Counteroffer: If the original offer is lower than what you expect, don't be afraid to counter with a reasonable price.

• Work with a real estate attorney: A lawyer can review contracts and ensure everything is on the up and up legally.

Close the Deal Once you have accepted an offer, it's time to move toward closing. The buyer will most likely want to schedule a home inspection and appraisal. Be prepared to:

• Address inspection findings by requesting repairs or concessions.

• Paperwork: This will involve the required legal documentation that is taken care of either by your real estate attorney or by a title company.

• Close the sale: When all the conditions are met, the final documents get signed, and the keys get transferred to the new owner.

Final Thoughts Selling your home yourself is quite possible once you have prepared yourself for the process and put together the resources you need. These steps, and maintaining organization, will get you through most processes to hopefully save you thousands of dollars in agent commissions.