Chicago, IL (PRWEB) April 24, 2006 –-
“Our goal is to empower “For Sale By Owner” (FSBO) home sellers by giving them the tools they need when they want to sell their houses, condos and townhouses,” says Martha Bradford, a top selling real estate agent and co-author with her husband Bob, an attorney, of one of the newest and certainly most complete guides to the entire home selling process, FSBOComplete.
For Sale By Owner Success: 8 Simple Steps to Serious Savings
By Martha & Bob Bradford
STEP I. Your Home.
View your home as a prospective buyer would. Starting at the outside, are there any areas that need work? Now, keeping your ‘buyer’s’ eye, open the front door and go inside. What do buyers notice first? What turns them on? What turns them off?
STEP 2. How Much Is Your Home Worth?
Martha’s method of valuing homes is a two-stage process: Finding comparable homes and setting an asking price based on those comparables.
Use “for sale by owner” listing sites and realtor.com on the Internet to locate comparable houses, in comparable locations, noting the location, asking price, and description of each house. Also try several of the home appraisal sites on the web. Local Newspaper ads, are also a good source of information about comparable houses. Calling a realtor can also help. Most realtors will run a CMA for you since they know most FSBO sellers eventually will use an agent and they hope to be that agent.
Setting Your Asking Price:
After you determine the average listing price of comparable properties, adjust for location, competition, market timing, and condition.
STEP 3. Assembling Your Home Team.
Selling your home by yourself does not mean selling your place alone. Consider adding the following professionals to your team: Lawyer, mortgage broker, handyman, financial consultant, and cheerleaders who can keep you going when the going gets tough.
STEP 4. Before Your First Showing.
Create a Listing Sheet that includes: A well-written description of the house; contact information; PIN#; real estate taxes; assessment; lot size; room sizes; basement information; number of bedrooms; number of baths; fireplaces; garage size; and school information.
Create Brochures and Special Feature Sheets. Martha & Bob believe it’s always a good idea to have a handout for prospective buyers.
Create and use a Visitor’s Guest Register.
STEP 5. To Market, To Market.
Buyers start out as prospects, and most prospects come from one of the following: Signs; word-of-mouth; Internet; and newspaper ads. Where did you find your home?
STEP 6. Contract ABC’s.
Real estate is governed by state and local law. Get a copy of a sales contract used in your area, (from a title or escrow company, bank, etc.), read and understand it before your first offer.
STEP 7. Negotiate Your Offers Like A Pro.
In order to be successful you need to do the things that successful negotiators do, which means being prepared to answer potential buyers’ questions. If you were a buyer what would you want to know about: The house itself? Why it's worth what you are asking for it? Information about the neighborhood? Having these answers ready will help put you at ease and lead to much smoother negotiations.
STEP 8. It’s Under Contract! Now What?
You have accepted a contract. You are almost home, to your new home, that is, but there are still issues that might need to be addressed before you deposit the check. These issues may include: Inspection, Financing and Attorney Approval.
Documents You Will Need at the Closing:
Internal revenue form W9;
Condominium or HOA documents, if applicable; and
Of course, as with many of today's self-help best sellers, there's a FSBOComplete Web site (http://www.forsalebyownercomplete.com) where visitors can learn about additional resources, get real estate tips directly from Martha and Bob, and download a FREE copy of their Get Started Guide which includes the 8 Steps to Success System.
Steven Shanin, publisher
Complete Books Publishing, Inc.
53 West Jackson Boulevard, suite 920
Chicago, Illinois 60604