I know a lot of people are now thinking of being a for sale by owner or selling privately without a real estate agent,
but the fact remains that somewhere between 80% to 90% of all properties are still sold by real estate agents.

I know I am biased being a real estate agent, but I am happy to explore to pros and cons of both approaches.
I believe in the real estate industry and the people who work in it but lets consider the idea of selling without a real estate agent.

Tip no 1. - For sale by owner - 2/3 weeks maximum .

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If you want to try to sell privately, go ahead and give it a go, but importantly do it with a plan and if you don't sell quickly be prepared to change your promotion quickly.

The maximum you should advertise real estate privately I believe is 2-3 weeks, no more; if you haven't sold it in the first 2 weeks chances are strong you won't sell it your self so at this point you are a lot better off employing a real estate agent.

Leaving it go on for any longer than that first 2 or 3 weeks and you have the possibility that the property will lose some of its appeal.

Tip no 2. - For sale by owner - best buyers come early.

The window of opportunity for selling real estate really does start to lessen over time and so does your negotiating position. As a seller your negotiating position weakens if your property has been on the market for too long.

One of the questions buyers love to ask is "how long has it been on the market" and if that is an extended period they have set up for the follow up question which is "why hasn't it sold".

As a seller either you or your representative real estate agent then has to explain why no one else thought it was good enough value to buy your property.

The number of buyers for your home always gets lower as time goes on, the serious buyers make themselves aware of the new properties that are coming on to the market.

Be careful with the buyers you reject when your home is first placed for sale as they may be the buyers prepared to pay the best price.

The longer your sale goes on there will be less new buyers to look at your property, this will effect your end sale price.

Consider carefully the early offers you receive, the fact is in many instances these may be the best offers you will get.

If the early price enables you to achieve your goals, you should consider selling sooner rather than later.

How many times do you hear of sellers having their homes for sale for a long time and getting a higher price? Almost never. The highest price comes when your home is fresh, not when it's stale.

Tip no 5. - For sale by owner - don't play real estate agent for too long.

With a maximum of three weeks as your limit you will have long enough to make sure if your next door neighbor is not interested or if somebody else who is living close by had any interest.

During this 3 weeks make your social network aware of your desire to sell, you never know some body who you have a connection with may be interested.

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