Selling a home the FSBO way is like many other projects you might undertake in life. You have to have a plan, you have to know what you’re getting into, and you have to have the right mindset.
FSBO Mindset
Your mindset should be the following:
- Have a positive attitude
- don’t expect it to be easy, and
- commit to learning everything you need to know about selling a home.
The positive attitude is necessary because you will inevitably have some setbacks and things will not move as fast as you expect. If you have a marketing plan, it can take time for it to take effect and you can’t quit or give up early.
Your expectations should be realistic about how much effort it will take, how long it will take, and how much money it will cost. Be sure to reach out to others for help when you feel overwhelmed. No matter what problem you are facing, there are people available to help you.
Your FSBO Plan
As you create your plan, you will be able to read about it and also talk to people whose knowledge and experience you respect. Your plan should have several parts:
- a plan to prepare the property (repairs, cleaning, tidying up)
- a plan to market the property, which means getting information about your home out to as many potential buyers as possible, including the Internet, advertising, and other media.
- a plan to deal with paperwork (such as offers and sales contracts) as well as government legal requirements. Here you can trust a real estate attorney who can guide you to others if necessary.
The FSBO Process
If you have sold any other property in the past, you should know what the process is and what you are getting into. If you have questions, ask your attorney or someone in your county government who handles real estate transactions. You probably have a friend or relative who is a real estate agent that you could talk to.
The process of selling a house on your own is not overwhelming. You can do it. In fact, if you get someone to help you with key things, like an Internet marketing strategy, you’re better off doing it yourself.