| With so much in the news about a "real estate | | | | what they sold for. Some good agents will try to |
| bubble", home buyers are getting more cautious | | | | pressure you for a face to face. Some will even |
| about whether or not they are getting a good deal. | | | | come with the paper work to sign you up for a listing |
| As a "FSBO', you are up against all those full-time | | | | now. If you want to avoid this pressure, just state |
| professional agents who have more resources to sell | | | | to the agent to send it by mail and that you will |
| homes. One of your first tasks should be to make | | | | consider them for a listing after giving it a go on your |
| sure that you price your home right. After all, your | | | | own. I would give more weight to the agent |
| home isn't the only one on the market. | | | | comparables over the free real estate evaluation |
| More lenders are looking harder at home valuations | | | | websites on the net. |
| these days because of all the defaults and increase in | | | | 3. With comparables in hand, you now have the |
| foreclosure activity. Gone are the days of loose | | | | proof you need when dealing with a potential buyer. |
| appraisals. Many buyers who have bought at the top | | | | Of course, most buyers when dealing with fsbo's |
| now face the harsh reality of whether or not their | | | | expect some type of deal and will try to negotiate. |
| home is worth what they paid. That is just the | | | | 4. You could part with some money and get a paid |
| nature of the real estate cycle. | | | | appraisal which will give you a more accurate |
| My tips for pricing your "fsbo" correctly: | | | | estimate of value. This probably would be the best |
| 1. Go to a few of the more popular real estate | | | | proof you could have when a buyer asks you how |
| evaluation websites to get a quick peek. While these | | | | you determined your price. |
| sites sometimes are as much as 10% off in either | | | | As lenders tighten up, you can expect to see prices |
| direction, they will give a list of comparables that | | | | soften as the market goes from super heated to |
| have been selling in the area. This can usually be done | | | | cool. Most of the previous activity in the market has |
| in under a few minutes. These websites are at Zillow | | | | been due to loose lending and high appraisals. Your |
| and RealEstateABC. They are no substitute for the | | | | job as a "fsbo" is to get it sold to the most qualified |
| real deal by a live and breathing agent. | | | | buyer for the highest and best price. |
| 2. Call a few local agents and explain that you are | | | | Don't forget to enlist the help of a professional if you |
| selling "by owner". Explain that you would like for | | | | haven't had success within your time frame for |
| them to do a free market analysis, including statistics | | | | selling. Many agents are willing to cut a deal on the |
| on comparable homes, what they were listed for and | | | | commission without a reduction in services. |