Handouts for Converting FSBOs: Tips on How to Price Your Home

REALTORS: This handout is meant to help you convert FSBOs. You may personalize and customize this handout as needed.

• Consider comparables. What have other homes in your neighborhood sold for recently? How do they compare to yours in terms of size, upkeep, and amenities?
• Consider competition. How many other houses are for sale in your area? Are you competing against new homes?
• Consider your contingencies. Do you have special concerns that would affect the price youll receive? For example, do you want to be able to move in four months?
  
• Get an appraisal. For a few hundred dollars, a qualified appraiser can give you an estimate of your homes value. Be sure to ask for a market-value appraisal. To locate appraisers in your area, contact The Appraisal Institute (www.AppraisalInstitute.org) or ask a REALTOR for some recommendations.
  
• Ask a lender. Since most buyers will need a mortgage, its important that a homes sale price be in line with a lenders estimate of its value.
  
• Be accurate. Studies show that homes priced higher than 3 percent over the correct price take longer to sell.
  
• Know what youll accept. Its critical to know what price youll accept before beginning a negotiation with a buyer.