The 3P rule in an FSBO Miami

The 3 P are:

• Pricing
• Preparation
• Promotion

If you price your home right, prepare it correctly for the sale and do some effective signage and advertising, the transaction is almost done.

Pricing

The main advantage that comes in an fsbo miami is that you save the commission of the intermediary persons - like the realtor, for example. Real estate commissions vary from state to state; the average for a miami beach realtor is 4-7% of the house value.

It is a known fact that an increased/good percentage of houses are sold without using professional real estate services.

But savings won’t make you rich. You need to know just how much you can afford to spend in order to get a good, rewarding price for your house. And that’s where you should ask for a consultation from a miami realtor (or even two miami realtors). These people can tell you the correct price of your house because they are in the business day by day and know the market like no one else.

Educate yourself. Read some good real estate related books. Study the miami real estate market and seek advice from miami real estate agents that you trust. Find out for what price similar houses have been sold for, and have those examples ready to show to the potential buyers.

Memorize your minimum price - below this you won’t close the deal. Your goal is to sell for the best price possible above the minimum.

Preparation

Once you are decided to sell, prepare for some visitors. There is a general preparation stage and an every-day preparation.

First, repair all amenities that are easy to fix. Everything that is not working can lower the price in an unexpected way. Clean the most visible things and pay attention to your neighborhood. If buyers fall in love with the house before they even enter it, they’ll forgive a lot of problems. Maybe put flowers in common-areas, and buyers will have a better first impression of the neighborhood. Clean the windows, buy a new mailbox, for example.

If more costly parts of the house need work - like the roof - get an estimate for repairs. The buyer could ask you a higher allowance, than the repairing cost.

Now, for the day-by-day care: keep the main alley clean, the furniture shining and don’t forget to water the flowers you placed in common areas, or else, in the third day, they won’t make a good impression anymore.

Promotion

Once your house is prepared, develop a marketing plan for your house. There are many ways to do that. Push on the most effective one. You should advertise your property on the Internet or get it listed in MLS (Multiple Listing Services), place ads in the local newspaper, write and print fliers, put up signs.

Also, develop a sign-in form to collect the addresses of your prospects. You’ll ideally want both phone numbers and e-mail addresses to follow up with prospective buyers. Don’t forget about the follow-up sheet. Getting feedback on your home from prospects who attended your open house will give you a better understanding of how to make your home more appealing to buyers.

Next: Who is in charge with all paperwork?

Once your home is priced right and ready for the market you should hire a real estate attorney to help you and review all paperwork: contracts, escrow and title insurance. The attorney will help you qualify the potential buyer of your home. Try to determine a buyer’s financial status before signing the contract.

There are dozens of things you can do to sell your own house faster for the best price.

Keep your goal in mind and good luck. You’ll prove the best fsbo miami ever seen.