**Archive. Originally posted October 30, 2007.

So, you think you wanna sell your own home? It’s no picnic, I’ll tell you that. But if you have the time and patience, you can save thousands on broker’s fees. It is true that many a FSBO ends up a broker’s listing because people step into it blindly. Just make sure you do the research and have the personality to handle it.

1. Pricing. Obviously, if you want it to move, you’ll have to price the home competitively. Many FSBO people get realtors to come over and give them market value. I’m not a big fan of that. Personally, I think it’s rude to waste someone’s time if you have no intention of giving them business. You can research comps online at websites such as Property Shark, Trulia and Zillow. Make sure you get the sales price as well as the market price and do visit open houses any chance you get. It’s not a bad idea to hire an appraiser to give you a closer value than you can get yourself.

2. Preparation. We wrote an article on staging the very first day we launched. It’s pretty basic…just clear away clutter, clean. Paint if you need to. Freshen the place up. I would suggest taking some of that money you’re saving on the agent and getting a cleaning service in for a major spring cleaning. Maybe even a professional home stager if you suck at that. Another suggestion: hire an inspector yourself so you can fix any problems that might arise. Make sure everything is to code. What seems like a small repair to you can be a deal breaker for someone else.

3. Photos. Did DIY photography on my second day of blogging. I don’t know if I’m hypersensitive because I’m a photographer, but I will not look at photos that are out of focus or underexposed. That’s my pet peeve. I will not tolerate it! Whether it’s a broker or fsbo, I don’t care…they lose me if the photos aren’t good. So learn to do it well yourself or hire a pro.

4. Marketing. Yeah, you can throw it up on Craigs for free and it might sell. But you’ll probably have to work alittle harder than that. A couple of other free options: try getting the home mentioned on blogs and in newspapers. I don’t know if print ads work anymore, but The NY Times online real estate section only costs $125 for 2 weeks.

5. More marketing. Do a website! People want to see information, not just a few photos on Craigs. The more info, the better. What’s the neighborhood like? Square footage? Taxes? Online floorplans are wonderful things. ForSaleByOwner is a low cost, popular site. Postlets looks even nicer. Reclaimed Home does all inclusive plans (pro photos, text and floorplans), but we’re really charging for the services more than the actual site.

6. Show and tell. So, if you’ve priced it well and marketed it properly, people should be flocking to your house. Try to be as accommodating as possible with appointments, but open houses are a great invention. Just get everyone over there all at once and get it over with so you can have some YOU time. Make sure you have a sign in sheet and offer forms. Have some refreshments and print brochures.

7. What about buyer’s brokers? I say “Go for it!”. You can give them 2-3% commission and it may be the difference between selling your house next month or next year. Don’t be penny wise, pound foolish. Don’t cut off your nose to spite your face. A bird in the hand is worth two in the bush. You get my point.

8. Bringing in an offer. Now comes the hard part. The negotiating. Yuck! Hopefully, you’ve left some wiggle room in your price because everyone wants a bargain! First thing first, no matter what, put your feelings aside. Yeah, you grew up in that house and you love the brown wall paneling with the avocado shag carpet, but you know what? Not everyone does. And that’s ok. Let it go. You can’t get insulted. Either accept the offer, counter offer or tell them you cannot take that price at this time. I like the idea of countering the offer rather than just telling someone to take a hike. It will let them know where you stand. You can come down by $100 if that’s all you want to do, but at least you haven’t shut the door in their face. Oh, and PS…ask to see pre approval from a bank or mortgage broker before accepting an offer.

9. More access to the house. You’ll need to let the buyers in again for inspection and bank appraisal, as well as walk through before closing. Consider yourself lucky if they don’t want to come in to measure and look around several times before closing.

10. Have a great lawyer. Usually the agents are the liaison between the sellers and buyers. They are also helpful in guiding you through each step. Make sure your attorney is on top of things and willing to do the extra negotiating that is usually done by the agent. He/she will should let you know about property disclosure forms and other items needed for closing. You should choose your attorney before putting your house on the market.