Today’s market has stripped many sellers of their capital; Years of hopeful financial security for retirement have vanished. All of us assumed that the market would continue to grow and that we could expect our home values ​​to double every 10 years on average. It is not surprising that more and more sellers are trying to sell without the help of a real estate agent.

First of all some data, any internet research will validate that approximately 14% of all SOLD homes are For Sale By Owner. That means almost 80% of all homes SOLD are through realtors and through the MLS. If you’re trying to avoid that fee, you’d better roll up your sleeves and get to work.

1. Decide how much your house is worth. Most sellers don’t have a clue. Remember, if you set the market price of your home at a high value, you risk discouraging buyers. The longer you stay on the market, the more likely you are to become cautious and believe that something is wrong with your home. Pricing is the #1 most important job. If you put a high price on it, it will stick. If you price it too low, chances are you’ll get multiple offers. Experienced real estate agents know the changes in the market and understand how to speculate on the best price to sell in the shortest possible time. Ask a real estate agent to do a CMA (comparative market analysis).

2. Roll up your sleeves and wipe, wipe, wipe. Make everything shine, especially kitchens and bathrooms. You want your home to look warm and welcoming. Brighten rooms with bright lights, fresh paint, and declutter. Delete all family photos and moments. keep it simple Keep in mind that you are trying to sell a house. Organize your home so that your buyers can imagine their lives in your home.

3. Marketing your home is challenging. Make sure you get a log with directional arrows. Lots of talk about the internet, just check out Zillow.com and other For Sale By Owner sites. Craigslist.com is an excellent option. If you must use print media, make sure they put it online. Newspapers charge for classified ads, but they usually post the ads online for free. Remember that only 14% of homes are sold by owners, the rest are SOLD by Realtors through the MLS. Creative Realtors now offers a flat fee MLS service for a nominal upfront fee. The typical fee is around $399. Just remember, if a buyer’s agent provides a buyer for your home, then you would only pay a commission.

4. Next, get your paperwork and legal professionals in order. Interview attorneys and closing/title officers and select the one who seems most willing to help with all the stressful details. You will need purchase offers, disclosures, etc.

5. Finally, if you receive an offer, make sure your buyer has been pre-approved. Mortgage lenders will provide you with a written pre-approval letter. Many discouraged For Sale by Owner sellers left the closing table only to find their buyer couldn’t afford the home. They leave empty-handed and have to start the whole sales process.