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Real Property: Selling A Home Yourself

Step 3. Decide how to market your home.

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In addition to the alternatives that may be available in your area, consider:

  • The internet which is a place where buyers look for homes. For example: 
    • offsite link a website that compiles searchable for sale by owner listings with photos and supplies yard signs.
  • A listing on the MLS (Multiple Listing Service). The MLS provides major exposure to potential purchasers. According to Money Magazine, MLS displays more than 90% of homes for sale. It's the place agents turn to when they start the search process for a new client. You can list on the MLS via such sites as offsite link or offsite link
  • A "For Sale" sign in your yard.
  • Fliers you can post in your neighborhood.
  • Your local newspapers.

When listing the home:

  • Include special features - and describe them so people understand the neat features.
  • Let people know the home is being marketed without a broker. An easy way to do this is to include "FSBO" in your ads.

Consider how people will see your home.

  • Hold an open home on Sundays. Have fliers available with a description of the property and photos so you can give one to each person who comes. Consider offering to walk around with people, but let them wander on their own if that's their preference.
  • Think about how the home will be shown the rest of the time. If you use a broker, they generally place a tamper-proof lockbox on the front doorknob with a key inside for brokers to have access with their clients. How will you handle this?

Decide whether to offer a commission to brokers who bring clients to see your home. If so, think about offering 3% - which is what a broker for a purchaser usually makes (The "standard" commission is 6%, which is split 3% to your broker and 3% to the purchaser's broker). Include in your ads wording such as "Sale by owner. Brokers welcome at 3%."

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