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4 Lessons I Learned Trying to Sell My House FSBO
Give me three cheers and a round of applause, please. I recently managed to sell my house in St. Louis, Missouri, and the reason for all that buoyant mood is I did it my way!
The path that I took is by real estate parlance called FSBO or for sale by owner that many property brokers or agents are understandably aghast about. Going by this route to sell my house by FSBO, spared me of having been charged an agent’s commission. That would have amounted to about 5 to 7 percent on the $130,000 deal I myself was able to close for my three-bedroom, 1,080-square foot residence.
So, here are some of the things that I lerned as I went FSBO to sell my house. Hopefully, there are some nuggets of wisdom you can find from my selling experience.
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Lesson 1: Commit and focus
My firm commitment to sell my house on my own is what I believe to be the solid foundation of the successful sale of my property. What fueled my drive to sell my house via FSBO was the thought of how much I can save going by this method independent of an agent or realtor.
Rightfully or otherwise, I felt that to sell my house using a real estate broker charging a commission takes an undue share in an asset that took me years to acquire. This thought drove me to stay focused on my goal even if at the back of mind I know that the going could be tough and that I may be in for a long haul to sell my house by FSBO.
Lesson 2: Establish a Unique Selling Proposition
Committed as I was to sell my house on my own, it became second nature for me to highlight and build upon the strengths of my property in relation to comparable residences in my area in St. Louis.
My firm commitment to sell my house through FSBO likewise has been a strong motivation for me to dig deeper on its selling points and how these could be highlighted and differentiated from other similar houses available in the market.
Lesson 3: Set the Best Foot Forward, Always
Knowing how my house fare against other properties in the market guided me to sell my house through meticulous and well-prepared presentations to prospective home buyers. No stones were left UN-turned as I prepared my home for that all-important showing.
My prior efforts to know the strengths that sell my house also allowed me to identify and address its weaknesses. I spared no effort in seeing to it that all necessary repairs are done, top to bottom. In the end, I have a home so spic and span, that I was almost tempted not to sell!
Lesson 4: Ensure that the Price Is Right
Pricing came as the critical factor that enabled me to sell my house minus a fee-charging middle man. My pricing strategy considered the fact that prospective buyers are just like me, on the lookout for the best deal possible.
I also took pains to research on the prevailing home prices in my St. Louis neighborhood in order to come up with a very competitive price that would sell my house even as no agent represents me in dealing with potential buyers.
Wrapping up this lesson-sharing, I can say that there are indeed many feasible ways to sell houses even without resorting to the traditional method of engaging the services of a real estate broker. Hopefully, my experience on how I was able to sell my house on my own would inspire other practical ideas that would facilitate a successful home sale in the market.
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