The True Costs of An FSBO Listing for Omaha Investors
Many people try to sell a house fast in Omaha by selling on their own, for sale by owner (FSBO). While not having to search for the best real estate agent in Council Bluffs, Iowa and choosing to sell without an agent can save you money, trying to market and sell our house on your own can be a lengthy and extremely costly process. In our latest post, learn more about the costs of an FSBO listing in Omaha or Council Bluffs before you try to do it all on your own.
Preparation
Before putting your house up for sale on your own for potential buyers to see, you’ll want to make sure it is being presented in the best light. You will want your house to look immaculate. The goal is to have a potential buyer walk in the house and be able to imagine his or her family enjoying Thanksgiving dinner in the dining room. Or having everyone sitting around the Christmas tree on Christmas morning. In order to get your home in the best shape possible, you’ll likely have to roll up your sleeves and get dirty or bring in the help of a few professionals.
Cleaning
The house should be cleaned from top to bottom. Floors, cabinets, mirrors, walls, and everything in between. In many cases, your definition of clean may not be the potential buyers level of clean. You may want to consider hiring a cleaning company, enlisting the help of a professional when it comes to the carpets, floors, power washing your patio, basically giving your entire house a deep clean will pay off not only in getting top dollar but will also help your house sell faster.
Staging
Many people will choose to stage the home in order to appeal to the most buyers possible. It is a fact that staging a home can bring an additional 3 to 5% to your selling price. You can choose to add a few pieces yourself or hire a pro to come in and set things up. Some people will focus on only a few areas instead of trying to stage the whole house. Living room, kitchen and master bedroom are the most important rooms.
Storage
If you are going to stage your home with new or borrowed items, you’ll need a place for your stuff. You will also need to clear and declutter your house. Taking down all pictures and personal items that can distract your potential buyer from imagining themselves in the house, not your family. You might want to consider renting a storage until to store all of your unnecessary items while your house is on the market. You want every closet, cupboard, garage area to be clutter free.
Repairs
Before listing the property, you’ll want to make all the necessary repairs that need to been done. Seeing even one or two things broken can leave a bad impression with your potential buyers. They might wonder what else is wrong with the house. You can count on the repair items showing up on an inspection costing you more money and time for repair once the inspection has been done in order to satisfy the buyer and their lender.
Marketing
There are all kinds of things that go into successfully marketing your Omaha home for sale. You’ll need to take a look at the many marketing avenues that are available to you, then choose which methods will be the most cost effective for you. Marketing can be very expensive and you will want to the best return on investment possible on the money you will be spending. You don’t want to find that you spend so much on marketing, that you completely negate your savings of avoiding a commission when selling your house fast in Omaha.
Signage
To get the attention of people interested in purchasing a house in Omaha or Council Bluffs driving by and to let potential buyers know they have found the right house, you’ll need to add some signage out front. You’ll want to choose something eye-catching, yet not obnoxious.
Printed Materials
You’ll want to use printed materials during open houses, for people who come to see the home at open houses or scheduled showings and to be left out front by your sign so people passing by can quickly access the property’s information. You can also choose to leave some flyers with local businesses or to put up on school or community billboards. Make sure the flyers point out the basics of the house along with any upgrades or unique qualities of your house. This kind of advertising still works!
Photography
We’ve all seen those listing where the photos were taken with a cell phone, maybe out of a car window. These aren’t going to cut it if you want your home to stand out. It is highly advised the use of a professional photographer can help you sell your house faster! This is one area you do not want to try to save money,
Open House Supplies
Throwing an open house in Omaha is like throwing a party for your house. You’ll want to have some snacks and some beverages available for your guests. You’ll also have to deal with the clean-up after, although your average open house is a bit tamer than those parties you remember from college. Make sure to market the open house you are having on your social media sites, neighbors and friends. You never know where your interested buyer will be coming from.
Online Advertisements & Premium Listings
There are a number of sites out there you will want to list your home to sell it fast in Omaha. Many of the sites require a fee to place your ad. Some are free, however, your listing will drop to the bottom of the list as others are added. To keep your property at the top of the list, you’ll need to pay money for those premium listings. In many instances it is necessary.
Your Time
Your time has incredible value. When selling your home on your own, you’ll be spending a good amount of time advertising the property, answering questions about the property and neighborhood, showing the house when people want to see it, and managing the escrow process once a buyer has been found. It is recommended that the for sale by owners knows something about buying and selling real estate and should have the available resource of a good real estate attorney.
Holding Costs
In addition to the costs of your time mentioned above, you’ll have even more costs that are dependant on how long your house sits on the market. In some instances that could months. Utility costs, homeowners insurance, tax liability, a mortgage, landscaping, lawn maintenance, snow removal and other regular maintenance will all add up faster than you may think. If the property takes several months to sell, you could be looking at thousands of dollars in costs related to the property you are trying to sell.
The Risks
When selling your property on your own, there are some risks to be aware of. Not having things done legally, not selling for what the home is worth, and not having any guarantees can be huge risks when you take matters into your own hands. As mentioned before if need to use a good, highly recommended real estate attorney to make sure things are all legal. When looking to see how to price your home you really need to take all the emotion out of the decision. Look in the same neighbor for sales 30 to 60 days old. Like square feet, number of bedrooms, number of bathrooms, is the garage attached, not attached. Same style of houses like a ranch, 2 stories, story and a half. Many times pricing your home slightly below market value will create a lot of interest and many times will bring more than you originally wanted because you generated buzz and a sense of urgency to put in a higher price be some of the buyers. A bidding war between buyers is always good for the seller.
Your Options
Aside from selling on your own, you could choose to hire a local real estate agent in Council Bluffs or Omaha to help. They will help you price, market and do all of the paperwork. Using an agent will cost thousands of dollars in commissions, broker fees, closing costs and holding costs. However, just like an FSBO listing, there are no guarantees with an agent and your house could still sit on the market for months. Your other option is to avoid all the costs altogether, and sell your property to [compnay]! We always pay fair cash prices, while handling all of the details! We will buy the house for cash, as is, no contingencies. Learn more about how we can help or give us a call at 402-939-6556!
