Selling a House by Owner

There is no question that selling a house by owner can save you thousands of dollars. Therefore, it comes as no surprise that many people are trying their luck at selling their own home without a real estate agent. It makes perfect sense...Homes prices have dropped so much in last few years that homes sellers simply cannot reduce their price anymore than they already have and still be able to pay their real estate agent the typical 6% commission.

The simple solution would appear to be to get rid of the middle man...the real estate agent. In doing so you save yourself thousands of dollars that you would have to pay in real estate commissions and can therefore reduce the price of your home so that it actually sells.

However, if you are selling a house by owner then you need to start acting like a real estate agent. There is a reason why real estate agents make their commission...because selling a home is work! Real estate agents, at least good ones, work their butt off to make a sale. So if you're selling a house by owner then you must do the same thing.

Here a few tips on selling your home:

1. One of the first things you must do is educate yourself on various home selling strategies. Remember, knowledge is power. If you have friends or colleagues that are successful real estate agents then talk to them. Ask them what strategies have worked for them and what has not. Also, get familiar with real estate advertising. Make it a daily habit of reading real estate ads. Get a feel of how the ads are worded. Look for the keywords and phrases that caught your attention.

2. Set realistic goals. Don't overprice your home. Play detective and go look at the other homes for sale in your neighborhood. What are those homes currently priced at? How do they compare to your own home? In today's market the home that sells is going to be the best home at the best price. Also, make sure to research what homes have already sold in your area. What did those homes sell for and how do those homes compare to yours?

3. Be prepared to do open houses every weekend. Real estate agents work weekends and you are now your own real estate agent so get used to working weekends.

4. Keep it clean! You may even want to hire a maid. Since you will need to show your house on a moments notice it will need to be clean all the time. The last thing you want to do in today's real estate market is turn someone away or put them off until another day. Have your home in ready to show condition everyday.

5. Use the internet. These days many people search for homes using the internet so make sure you are using sites like Craigslist to help sell your home.

6. Get listed in your local MLS. One of the biggest disadvantages of selling a house by owner is that licensed real estate agents are the only ones who can list your home on your local MLS, or Multiple Listing Service. This is still the number one way homes are sold in the United States. It is estimated that 90% of all home sales are a direct result from being listed in MLS. Therefore, if you are selling a house by owner you will want to use a flat fee MLS service where you pay a one-time flat fee to have your house listed in MLS. These flat fee services vary in price and in what they offer so make sure to do your research as not all flat fee MLS services are created equal. Some only list your home while others provide lockboxes, "for sale" signs, contract forms, and may even do open houses.

As you can see selling a house by owner is not easy. It is work...that's why real estate agents make a commission. Also, while selling a house by owner will save you thousands of dollars, some of that money will be needed for advertising, cleaning and maintenance, and of course listing you home with a flat fee service. In the end though, if you are willing to put in the time you will still save yourself thousands of dollars which will enable you to lower your asking price which will get you more traffic and ultimately increase your chances of making a sale.

Even if you're selling a house by owner you must get your home listed in your local MLS if you expect it to sell. If you want to list your home in the Mid-Florida Regional MLS for a one-time flat fee then make sure to contact Tanya Waxler from uKeepCommission Real Estate. Tanya offers the best flat fee serivce and pricing anywhere and includes a lockbox, "for sale" signs, and all contract forms. For more information visit http://www.uKeepCommission.com or call 941-465-9207.