Often home owners who decide to sell using the ‘for sale by owner’ method finally get around to completing jobs around the house they had been intending to do for years.

Fixing the paving, painting the front fence and repairing the side gate are typical examples of ‘little’ jobs that fit into the “I must get to that one day” category.

When preparing your home for sale, these ‘little’ jobs are important in achieving an expedient sale at the highest possible selling price. This is because buyers typically notice the little jobs too; an ill-fitting gate is easily and cheaply repaired, yet can loom large in the buyer’s mind as a more major problem that hints at other areas of the property being neglected.

Beware you don’t Over-Capitalise
Of course, you need to be cautious about “over-capitalising” when preparing to sell. Replacing a bathroom and renovating a kitchen are expensive and, depending on the property and its location, may prove counterproductive in the effort to achieve the best price.

For example, if you were to take a quality home say worth $900,000 in a suburb where the median house price was of that same value, then investing in a new kitchen and bathroom that cost, say, $80,000 may not be the best idea, as it is probably more difficult to sell that property at $980,000. This is partly because it is already above the suburb’s median house price.

Conversely, an original cottage in a well-established affluent suburb is more likely to benefit from renovations when preparing to sell due to the higher demand for ‘finished’ properties in those sought-after areas.

How to Present Your Home – as a For Sale By Owner
Obviously, each property and circumstance creates a variety of options for sellers when preparing to sell, and any opinions of price etc from traditional real estate agents on the matter are, as always, subjective.

In general terms however, presenting a clean and tidy home is always going to help in selling at the best price.

Paint out bright colours on internal walls, de-clutter by storing away trinkets and excess family photos, clear the fridge of magnets and kids’ school art and place items neatly in storage cupboards.

Small things do make a difference. Paint and gardens are two areas of focus that can make a disproportionate difference to the selling price (relative to their cost and the effort involved).

These tasks can usually be completed by the seller themselves which helps keep costs down and can make an amazing difference to the presentation of the home and therefore the price of the property.

Hope the above all helps those wanting to sell by the now quite fashionable method of ‘for sale by owner’.

Hope the above helps.

Often home owners who decide to sell using the ‘for sale by owner’ method finally get around to completing jobs around the house they had been intending to do for years.

Fixing the paving, painting the front fence and repairing the side gate are typical examples of ‘little’ jobs that fit into the “I must get to that one day” category.

When preparing your home for sale, these ‘little’ jobs are important in achieving an expedient sale at the highest possible selling price. This is because buyers typically notice the little jobs too; an ill-fitting gate is easily and cheaply repaired, yet can loom large in the buyer’s mind as a more major problem that hints at other areas of the property being neglected.

Beware you don’t Over-Capitalise
Of course, you need to be cautious about “over-capitalising” when preparing to sell. Replacing a bathroom and renovating a kitchen are expensive and, depending on the property and its location, may prove counterproductive in the effort to achieve the best price.

For example, if you were to take a quality home say worth $900,000 in a suburb where the median house price was of that same value, then investing in a new kitchen and bathroom that cost, say, $80,000 may not be the best idea, as it is probably more difficult to sell that property at $980,000. This is partly because it is already above the suburb’s median house price.

Conversely, an original cottage in a well-established affluent suburb is more likely to benefit from renovations when preparing to sell due to the higher demand for ‘finished’ properties in those sought-after areas.

How to Present Your Home – as a For Sale By Owner
Obviously, each property and circumstance creates a variety of options for sellers when preparing to sell, and any opinions of price etc from traditional real estate agents on the matter are, as always, subjective.

In general terms however, presenting a clean and tidy home is always going to help in selling at the best price.

Paint out bright colours on internal walls, de-clutter by storing away trinkets and excess family photos, clear the fridge of magnets and kids’ school art and place items neatly in storage cupboards.

Small things do make a difference. Paint and gardens are two areas of focus that can make a disproportionate difference to the selling price (relative to their cost and the effort involved).

These tasks can usually be completed by the seller themselves which helps keep costs down and can make an amazing difference to the presentation of the home and therefore the price of the property.

Hope the above all helps those wanting to sell by the now quite fashionable method of ‘for sale by owner’.

Hope the above helps.

If you now feel that you would like to pursue the task of selling your property yourself just click on the following button:

In a strong property market, real estate seems to sell so easily but in a poor property market the whole process can be frustrating and expensive.

There is nothing worse than having a property just sitting there not selling while the marketing costs rise and the offers get lower.
Many are now taking control themselves and deciding to dump the real estate agent, saving the commission and selling their house themselves.

Using a traditional agent means you are using a professional and someone who should be objective.

But for those with an eye for detail and the patience and time to do the job themselves, there can be big savings if you follow the right steps.

Beware of Over-Capitalising
Of course, you need to be cautious about “over-capitalising” when preparing to sell. Replacing a bathroom and renovating a kitchen are expensive and, depending on the property and its location, may prove counterproductive in the effort to achieve the best price.

For example, if you were to take a quality home on a lot worth $800,000 in a suburb where the median house price was of that same value, then investing in a new kitchen and bathroom that cost, say, $100,000 may not be the best idea, as it is probably more difficult to sell that property at $900,000. This is partly because it is already above the suburb’s median house price.

Conversely, an original cottage in a well-established affluent suburb is more likely to benefit from renovations when preparing to sell due to the higher demand for “finished” properties in those sought-after areas.

Getting Your Asking Price Right
The price can’t be too high to discourage potential buyers, nor do you want to sell it for too little. The aim is obviously to maximise the sale price.

The asking price should be a starting point for negotiations, so it is advisable to leave some room for that.

It is generally unwise to accept the first offer but our view is if you get the price you want, then grab it.

Vendors should do their homework and base the asking price on comparable sales (of properties with a similar size, quality and location) obtained from local councils, the property sections of the newspaper and online.

Selling Tips
• The following tips can be of use:
• Fresh flowers in the house.
• Tidy up outside and add some fresh pot plants.
• Clean the windows.
• Turn on garden lights during night inspections.
• Remove pets during inspection times.
• Have lots of natural light with blinds open to maximise the home’s space and light.
• Remove junk and clutter.
• Ambiance still counts for a lot, so the smell of freshly brewed coffee and soft background music contribute to a “homely” feeling.

The Inspections Process
Inspections can make or break a private sale. Getting a potential buyer through the front door is an opportunity too good to miss. Be courteous and helpful with any queries but don’t be intrusive.

Stay in the background as much as possible and only get involved to answer questions or to point out attractive features.

Most visitors want to wander through the property at their own pace and see the areas of most interest. They don’t want to be badgered or feel as though they are imposing.

Ensure inspection hours are convenient and that you note the name, address, email and phone number of visitors so they can be followed up.

Hope the above helps.

If you now feel that you would like to pursue the task of selling your property yourself just click on the following button:

A real estate agent essentially does four things for his or her commission:

1. Lists your house on the real estate portals like Realestate.com.au.
2. Markets your house though fliers, advertisements, but now mostly online.
3. Facilitates showings of your house and possibly hosts open house events.
4. Acts as an intermediary when entering negotiations.

After working with Realtors on several occasions, I decided to try selling a home on my own. Here are the steps to follow if you decide to forego using a real estate agent to sell your home:

How to Be Your Own Real Estate Agent Selling Your Home

1. Price Your Home to Sell
   Before you decide to list the property, make sure you’ve priced the home competitively. Use the Internet to get an idea of selling prices, but more importantly recent sold property’s, for comparable homes in your neighborhood and then price your house accordingly.

It’s easy to get hung up on this step and, especially if you’ve lived in your home for some time, you may feel compelled to overprice the home. Don’t fall into that trap. Remember, the goal of this process is to sell your home so make sure the asking price is realistic.

2. Obtain the Services of a ‘for sale by owner’ Company
   There are a number of these types of companies, though only about 2-3 offer all the help, assistance and service that you will need to be successful. Fees for their service can vary quite a lot so be diligent in ensuring you get the best value for your money. They can be found by searching on Google using ‘key words’ like: “sell my house privately”, etc.
3. Market Your Property
   The company/agency you choose should of course be able to list you on the main real estate portals like, Realestate.com.au etc and in addition to listing the home on these sites offer the option to obtain “for sale” signs etc and creating brochures to market the property. There will be some costs involved in advertising the sale of your home, but they will be a fraction of an agent’s commission and even much less than what an agent will charge as a marketing budget. The real cost for you is the amount of time and energy you’ll need to put into selling your home.
4. Hold an Open House
   You can also hold an open house to advertise the sale of your home. Advertise for the open house by posting signs in your neighborhood and of course on the real estate websites your property is listed on. Have some light refreshments available and set out brochures about the home that visitors can take with them as they leave.
5. Know Your Property’s Selling Points
   When writing your ad copy for websites or brochures, make sure to include basic information about the house, including the price, number of bedrooms, number of bathrooms, lot size, location, and of course the specific details that make the house special to potential buyers.

Take a look at other listings on the above websites. You’ll quickly find out that features like granite counter tops, stainless steel appliances, and oversized windows entice buyers. Determine what’s special about your home and highlight those features in your marketing efforts.

6. Prepare to Show Your House
   You will have to prepare your house for showings and open house events. Deep-clean the house, including scrubbing the kitchen counters and the appliances, steam cleaning the carpets, cleaning the tiles, and stashing your keepsakes in a closet . The final result should be a home that’s squeaky clean and stripped bare of most personal items.
7. Show Your House
   Be attentive to what the buyers say or ask and answer their questions honestly. If you don’t know an answer, don’t try to ‘fake’ it. Keep a record of the buyers details so you can follow them up later if need be.
8. Perform Your Own Negotiations
   Real estate negotiations take the form of a contract that is submitted to the seller. The seller can accept the offer, or revise the contract and submit it to the buyer. The process continues until both parties sign a contract. This should be carried out in liaison with each parties conveyancer/solicitor.

In most states, there is a standard contract for real estate purchases. These contracts can be obtained by contacting a solicitor/conveyancer.

Agents like to close deals quickly so they can get their commission, even if you don’t ultimately receive the price you want for your home. They may even inadvertently relay your negotiating position to the buyer. If you are a distressed seller, that is the last thing you would ever want an enthusiastic buyer to learn. Doing your own negotiating ensures that you do not give away important indications of your financial strengths and weaknesses.

9. Comply with All Laws in Your Area
   It’s critical that you comply with any known laws in your State related to selling homes. Some laws are universal and will apply to the sale of your home no matter where you live. The Fair Housing Act stipulates that sellers cannot discriminate against buyers for reasons including race, religion, and sex. Contracts and agreements found online can help get you started on the selling process, but remember, those forms aren’t specific to your unique situation. It’s best to have a solicitor/conveyancer review all documents and contracts related to the sale of your home.

Final Word

Selling a home is not for everyone. Some people will not have the time or the patience to deal with the process. And it’s possible that if the listing price is too low the potential savings might not be worth the time and effort necessary to sell the house without an agent.
Whatever the case, if you are planning to list your home, at least consider the great savings you could enjoy by selling the house on your own. If you know just a little about real estate or just plain sales, and you can put forth the effort to do a good job you can save a tremendous amount of money by selling your own property.

Like to Respond:
Have you been through the process of selling your own home?

What are your best tips for selling a home without an agent?

Hope the above helps.

The consumer then contacts the participating agents, chooses one from the list and is often surprised to learn the agent will be paying a referral fee to the intermediary. Suddenly, the vendor’s confidence in their agent is undermined when they discover the agent is prepared to give up a portion of their fee to obtain a lead and as a result you’re simply being shown the cheapest and most desperate.

As a suggestion, try selling your property yourself.
You know your property better than anyone or any traditional agent and therefore you are most likely the best ‘agent’ you could find.

Emotional Selling

Hopefully, the vendor loves their home. Memories have been made there; occupants have put love and attention into the house. Pride in one’s space is important, yet it is also important to not be blind to a house’s cosmetic flaws and the fact that what appeals to one will not necessarily appeal to another. A vendor should not allow themselves to be too emotional about the sale; haggling on the part of the seller can lose a sale over what are ultimately insignificant monetary amounts, and emotional involvement can stop vendors seeling the bigger picture.

Failure of Full Disclosure

There are laws governing full disclosure on property. As a vendor, you should have your own inspections carried out prior to listing your property on the market. Building flaws, termite infestations, etc are all significant issues which the vendor must disclose to potential buyers: failure to do so, or an attempt to conceal, can not only result in a failure to sell, but may lead to legal action against the vendor.

Unrealistic Pricing

Sellers need to make themselves aware of the current market and trends prior to listing their home for sale. A home priced too highly will fail to sell. A home priced too low will sell incredibly fast (unless potential buyers wonder what the catch is) and the vendor can cheat themselves out of a significant amount of money for their home. The true value of a home needs to be evaluated without emotional considerations: while it can be hard to learn that one’s home isn’t worth what one had believed, a property is only worth what one is willing to pay.

Being Inflexible or Adversarial

Any vendor should be willing to enter negotiations with a positive attitude. If someone makes an offer that is low, the vendor should never take this personally – the sale of property is purely a business transaction and should be viewed as such. The seller should be prepared with a counteroffer; most serious buyers will come in with a second offer more in line with what they are truly willing to pay. Additionally, be clear at the outset on what is included in the home. For example, the vendor may wish to take the dishwasher with them when they vacate; if the buyer wants the dishwasher left behind and included in the sale, is it really worth losing the sale for that?

Too Long on the Market

A property stalling on the market for a long time can become stigmatised. Overpricing, poor showing, etc can be reasons for this initially, but after awhile, everyone who might wish to view the property has done so. In this circumstance, it is better to remove the listing for a while and re-list it to give it a fresh opportunity to sell at the new asking price and with any cosmetic amendments made.
Next time we will conclude this series with Part 3 on the most common mistakes vendors make when selling their own homes.

How to Avoid the Most Common Mistakes Sellers Make – Part 1

There are some common errors in judgement which can be made by a vendor wishing to sell their home, and which can be detrimental to the ultimate sale of the property. While many real estate agents will place “Not Using an Agent” at the top of the list of these potential errors, this need in no way be the case. As long as the vendor goes into the process with the knowledge required and realistic expectations of how the process of selling will unfold, there is no reason why a property can’t be sold for a premium and in a timely fashion without the added expense of agent commissions. So below is a guideline of things for a vendor to avoid when selling their property, in no particular order:

Limiting Accessibility of Buyers

It is said that the most crucial time for a new property listing is the first two to three weeks; a vendor needs to expect to be, during this time and during the marketing process, at the buyer’s mercy. The home needs to be available for viewing at the convenience of the buyer, not the seller – which will have an impact on the current occupants of the home, but “them’s the brakes”. A home too long on the market can become stigmatised and if a vendor wants to sell, they need to be flexible on allowing access of potential buyers to the property.

Unwillingness to Spend a Little

This should be common sense, unless you are marketing your property as a “fixer” and pricing it to suit. Repair anything that is broken, shabby or unsightly. Present the home as you would wish to have it if you were buying.

Over-capitalising

While not repairing broken fixtures and spiffing the house up to be presentable will lose potential buyers, spending too much on unnecessary improvements will not equate to a relative increase in sale price. While the place may need new carpets, a coat of paint, or a new roof, only undertake other big investments if they are really necessary. Otherwise it may be money leaving your pocket and with no real possibility of recouping it at sale.

Panic Selling

Most vendors wish to sell quickly. It’s not a great idea, however, to appear desperate to buyers – they will not only expect they can get the property at “bargain” prices, they may wonder what is wrong with the property that the owner wishes to offload it so quickly. Knowing the market value of the property and having a realistic expectation of the time it will take to sell in the current market are important considerations which should be anticipated before placing the house up for sale.

Next time we will cover part 2 of this article, and the other common mistakes vendors make when selling their own homes.

Limiting Accessibility of Buyers

It is said that the most crucial time for a new property listing is the first two to three weeks; a vendor needs to expect to be, during this time and during the marketing process, at the buyer’s mercy. The home needs to be available for viewing at the convenience of the buyer, not the seller – which will have an impact on the current occupants of the home, but “them’s the brakes”. A home too long on the market can become stigmatised and if a vendor wants to sell, they need to be flexible on allowing access of potential buyers to the property.

Unwillingness to Spend a Little

This should be common sense, unless you are marketing your property as a “fixer” and pricing it to suit. Repair anything that is broken, shabby or unsightly. Present the home as you would wish to have it if you were buying.

Over-capitalising

While not repairing broken fixtures and spiffing the house up to be presentable will lose potential buyers, spending too much on unnecessary improvements will not equate to a relative increase in sale price. While the place may need new carpets, a coat of paint, or a new roof, only undertake other big investments if they are really necessary. Otherwise it may be money leaving your pocket and with no real possibility of recouping it at sale.

Panic Selling

Most vendors wish to sell quickly. It’s not a great idea, however, to appear desperate to buyers – they will not only expect they can get the property at “bargain” prices, they may wonder what is wrong with the property that the owner wishes to offload it so quickly. Knowing the market value of the property and having a realistic expectation of the time it will take to sell in the current market are important considerations which should be anticipated before placing the house up for sale.

Next time we will cover part 2 of this article, and the other common mistakes vendors make when selling their own homes.