Understand "Fair Market Value"and price it right!
Location is key, but it's the right price that brings buyers to the door! To determine fair market value, make a point to know 2 important pieces of information and price accordingly: (1) what similar homes have recently sold for (within the last 3 months) and (2) what similar properties are currently on the market for. Price within $5,000 of the averages, or slightly below. DO NOT OVERPRICE!
Comparison-shop!
Buyers comparison shop...you should do the same. They determine value based on features and benefits of your home and compare it with the features and benefits of other homes that are currently on the market. Today's buyers won't overpay for anything, whether it's a coat or a car or a house...period!
Understand buyer mentality
Buyers who seek out FSBO properties do so because they are looking for a deal! Often, they are much more knowledgeable and aware of market activity than sellers, because they are out shopping. And because they know that FSBOs are not paying the Broker commission, they will discount their offer price by at least the amount of $ you are saving.
Stay on top of market changes
Prices do not stay static. They go up and down, subject to any recent activity surrounding a subject property during the time it's on the market. Changes (new listings, new pendings, new sales) will affect your price. You can list today, but your neighbor can undercut your price tomorrow or sell for higher next week. Keep your eyes on the market and adjust accordingly.
More Tips:
Expose, expose, expose!
The more buyers that know about your home, the faster it will sell and the higher the price you will get. Post the listings to as many of the top real estate sites as possible. Some free sites: craigslist.org, backpage.com, postlets.com.
Prospect like the Pros!
Simply posting ads and putting a sign out front aren't enough. You will need to spend the time actively seeking out buyers. Hardworking Realtors actually pick up the phone and call around the neighborhood and alert other Realtors who have recently sold or currently have homes listed for sale in the area to see if they know people who might be interested. Let your neighbors, friends, sphere of influence know you are selling!
Dress for success
Make sure your home is show-ready at all times. De-clutter, remove personal items, clean and use home design magazines as inspiration for staging. Fresh paint, clean carpets and new light bulbs go along way. When showing, open windows and turn on all the lights.
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