For Sale by Owner: Selling Your Own House

You've taken a big step. You've decided to sell your house. This can be a stressful time for anyone. Your house is most likely your biggest asset, so you want to make sure that you make the most of it.

I am a Realtor. Let's get that out up front! However, the focus of this article is not to try to get you to list your house with me, or any other Realtor for that matter. I will say that according to the National Association of Realtors, most houses which are sold by owner sell for an average of 16% lower than those which are sold through Realtors. But in strong markets, sellers often can sell their own homes for great prices. Here are some tips on how to be successful.

Pricing Your House

The first thing that you will want to do when selling For Sale by Owner (or FSBO for short) is to determine correct pricing for your house. A great way to do that is to take a look at local newspapers, or at their websites.

Check the local classifieds and look for houses that are for sale in your local neighborhood. On Long Island, a great source for this is Newsday or The New York Times. Make sure to match the size and condition of your house. Look through the ads. Are there similar houses, with the same number of bedrooms and baths which are for sale? You will also want to check the property size and make sure that is comparable as well.

Keep in mind that these are asking prices, not sold prices. An owner can put any price they want to on their house, but that doesn't mean it is the same as fair market value. Try to be as objective as you can. The more realistic you are with your price, the more buyers who will be interested in buying your house.

Marketing Your House