Home owners who decide to sell want to make as much profit on the sale as possible. The most logical way to minimize expenses while maximizing profits is to cut out the middle man since the commission to your real estate broker will cost you approximately 5% to 7% of your selling price - with 6% being a logical average.
Consequently, if the selling price of your Las Vegas home is $300,000, and if you pay a commission of 5%, you will be paying $15,000; for a commission of 6%, your payment would be $18,000 and if you pay your agent 7%, his (or her) commission would be a whopping $21,000 out of the profit of your home sale. Because of these large real estate commissions, many home sellers choose a "do it yourself" approach.
Las Vegas for sale by owner offers several options. Firstly, the overall costs are considerably less than typical real estate broker fees. Secondly, the seller has the option of using an FSBO online advertising service. These services are on-line classifieds and can include one or more photos of the home that can be clicked on for enlargement. The FSBO service will scan or upload these photos for a flat fee that is all inclusive. Additionally, the seller has choices on the advertising fees. According to the seller's budget, he can place ads for one or more months.
The first thing you need to do is set a price for your home by researching the asking price of similar homes in your neighborhood which are currently on the market. You must find out how long these homes have been listed and the actual selling price for similar homes in the area. This type of service is known as "market analysis" or "comparable sales reports" which is an inexpensive way to get this type of information.
Another consideration is hiring a real estate appraiser to get an idea of the value of your home. This helps you to realistically set your for sale by owner asking price without the factors of emotion and wishful thinking entering into your decision.
Next, you must get your home ready to be shown so that potential buyers have a positive impression of your property. "Curb appeal" is very important because when buyers pull up to your home and get out of their car, they have an immediate reaction which is not likely to change.
- Are your shrubs trimmed? Is your lawn mowed?
- Are paint chips touched up?
- Is all clutter removed from your entrance and driveway?
The interior of your home should be in a state of readiness to be shown to interested buyers with a calm and relaxed atmosphere. The house should be well lit with no dark rooms or hallways. Fresh flowers placed strategically are a nice, warm touch and create a pleasant environment. If the weather permits, open the windows to create a feeling of light airiness.
It is best to take buyers on a guided tour of your home and point out the many good qualities - what has been updated or recently replaced. You will have the opportunity at that time to point out the advantages of the location, the neighborhood and convenience to shopping and highways, You want to help your prospect envision living in the home and hopefully, you can make this happen.