FSBO

Study Your Property And Make a List of its Selling Points

Before you even tell any of your friends and family members that you’re selling your home, take the time to come up with a plan of attack. First of all, you can’t sell unless you know your inventory. What would make a buyer choose your home instead of someone else’s?

Write down all the basic information about your house such as lot size, construction size, number of bedrooms and bathrooms, location, and specific details about your house that would entice a buyer.

To get an idea of how experts advertise their properties, go on Realtors’ websites in your area, Zillow.com, and Realtor.com. Pay close attention to which aspects of their properties they highlight.

When you understand your property’s selling points and highlight them in your marketing process, you significantly increase your chances of success.

2. Check All Relevant Real Estate Laws in Florida

Before you’re stressed out in the in the middle of negotiations, marketing efforts and the general chaos of selling a home, take the time to research any applicable real estate laws in Florida. While you can find contract and agreement templates online, those are usually general and may need tweaking to apply to your specific transaction.

It’s always best to have a real estate attorney to help you review documents and contracts, and to assist you with any specific clauses related to your real estate transaction.  

3. Price Your Property to Sell

The biggest mistake anyone selling a home can make is not pricing their property to sell. It’s a lot more common than you think because we are all biased about the value of our own homes. Even real estate professionals are not immune to it when they sell their own homes. That’s why you have to rely on hard, cold data when pricing your home.

When a real estate agent prices a home, first he or she goes on the location’s Multiple Listing Service (MLS) in order to find comparable properties that have sold recently, in order to get an idea what the market can bear. Aspects to compare include location, square feet, number of bedrooms and bathrooms, age of the property, time on the market, and above all, the amount it sold for. Real estate agents also compare properties that are listed right now, so they get an idea of who they’re competing against.

In your case, you may not have access to said database, but you can still go online and find comparable properties yourself on real estate agencies’ websites, Zillow.com, Realtor.com and even Craigslist.