TopTips for Selling Your Own Home

Despite what many are calling a soft real estate market many people are find that selling their own home is easier than ever. If you are thinking about going it alone here are some tips for selling your home and keeping the commission!

1. Use a Multiple Listing Service. There are several companies that offer a flat fee listing service. Prices range from $200 to $1500. Technically you are using a real estate agent but you will not pay a commission. Statistics show that 43% of all homes sold are through a multiple listing service. (more than any other single method of sale.)

2. Post signs. Buyers report finding 8% of all homes bought through front yard and end of street signage. The more visible your sign is, the more people will see it. Include information such as number of bedrooms and price and be sure that your phone number is legible. If buyers can't reach you they can't buy from you.

3. Call your friends and neighbors. If your neighbors like your neighborhood, chances are they know people who would also like it. Weather it is an ailing parent, an adult child moving back to the neighborhood or a friend who is looking for a new home, there is a chance your friends and neighbors can help you sell your home.

4. Take out a newspaper ad. 55% of people report using newspaper ads to look for homes. Newspaper ads are portable, and they make it easy for buyers to drive around looking at homes. Sunday is the most important day to place an ad as it is the day most people have time to view homes.

5. Hold an open house. Although 29% of For Sale by Owner sellers have marketed their house through open houses, fewer than 1% of homes are sold through them. Still an open house may attract people who can help you sell your home. Be sure to have plenty of flyers ready for those who visit and offer a finders fee for anyone who brings a buyer for and added marketing edge.

6. Use the Internet- Did you read the story about the young man who challenged himself to turn a paperclip into a house through barter using craigslist.com? If he can do that imagine what you can get for your home. Craigslist and many other online trade sites offer free ads. Placing one with photos puts your house in front of buyers all over the world instantly.

7. Use bulletin boards- Make colored flyers and place them on every community bulletin board in your area. Tear off tags along the bottom of the page with your phone number, the house price, and neighborhood identification will keep people from stealing your flyer.

8. Make sure your house is ready. When you show your house make every appointment count by having your house 100% ready to show. It may be your one chance to impress the right buyer; a clean well-staged house has more value to a buyer than a house with clutter. To get your best price do your best work before you show your house.

There are a few caveats. According to the 2006 National Association of Realtors Profile, the typical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales. Paperwork can be confusing and complicated and the required time expenditure for selling your own home may mean it is easier and cheaper to hire a real estate professional.