Pricing a house for sale by owner isn't as cut and dry as when you list your home with a Realtor. There are several methods used to establish home market value when it comes to what you should price your house at. On this and following pages about setting a house value, we will cover the various ways and explain the pros and cons of each method.
From past experience, there is only one best way of pricing a house for sale by owner to achieve the desired results, so we will save that method for last.
If you were just going to list with a Realtor, getting 2 or 3 Realtor's in to give you a CMA is usually just fine. This site however, is all about how to sell a house for sale by owner, so the rules are a bit different.
When it comes to selecting an asking price of a house, you not only need the right price, but you also have to build trust and credibility with any potential buyers.
May I suggest you read each section about pricing a house for sale by owner, as I explain each method. You will then have a better understanding of the whole thought process of home appraisals. You will then know why #4 is the best way and why.
It is also important to look at the other methods of pricing your house for sale, as some can be used in conjunction with #4 and also are valuable for other reasons.
You may be thinking, "I know all about pricing a house for sale by owner without going through all this stuff. I'll just skip this section." Please don't.
Based on the commission you are going to save selling without a Realtor, your time spent here learning these tips on pricing a house for sale by owner is worth at least $1000.00+ per hour. ;-)
Here they are. We have seen each of these tried out there by FSBO's (for sale by owners).
After you have read each method from #1 to #4, you can then decide your actual asking amount.
For more information about pricing your home, you can select any of the photo links below.
Once you have established your property value, you will have to decide what your asking price will be.
Your final decision will depend greatly on your motivation to sell. Once you have looked at the 4 pricing options, you should be able to make a quick and sound decision.
The following are a list of the 4 pricing options.
The 4 Decisions
You can learn about selecting your final asking price by selecting the photo "Establishing the Final Asking Price" above.
Once you have Studied the various ways of appraisals and decided the asking price, you will be ready to move on.
For More Information
About Pricing a House For Sale
Make a selection from one of these photo links