Real Estate Marketing

The Basics of Selling Your Own Home

December 29, 2010

If you don’t have a real estate license, and you still want to sell your own home, that is an option. But don’t get in to it blindly. You are going to have to know some things about it, or you are just going to get taken. Basics like how to price your home, where to advertise it, and how to do the paper work when a buyer comes along.

In Justin Skinner’s article An Outline For Selling Your Own Home, you’ll get some of these basics. But I want to show you something critical that this article brings out:

Have forms ready. You don’t want a buyer to say, “I love the house. I’ll get an offer form somewhere tomorrow and then I’ll be back.” He might see another home he likes before then. Have copies of an “offer to purchase,” or “purchase agreement” form ready. In real estate it is only legally binding if it is in writing. When you are selling your own home, you need to have ready the same tools that a real estate agent would have.

You definitely want to make sure that you have proper forms ready to go when a potential buyer comes by to look. There is no better time to get a signature than when a buyer’s interest is peaking, and if they love the home, then that is the time to get the deal signed, and get the option/down payment money in hand. Once they have a contract and have paid some money, it is far less likely that they will back out of the deal…

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1 Comment

  • Reply Betsy April 22, 2011 at 9:43 am

    Excellent tips.

    Here is an interesting article that highlight real people who actually sold their own homes known as “FSBOs”.

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