This is the last in this series of issues that all sellers thinking of brokering their homes themselves should review, and CAREFULLY consider. If you are dead-set on forging ahead on your own, good luck!  And don't hesitate to ask me for help and advice, as I will be happy to support your efforts with suggestions.

Read Part 1,  Part 2,  Part 3  and Part 4 here.

 Price Setting - this is probably the MOST CRITICAL task at hand, even for those working with a broker. There is so much competition, and unless you are in a seller's market (and few are), pricing is going to determine IF you sell, and WHEN. Setting the market price is not easy, even for professionals with lots of knowledge and experience. The KEY POINT to remember, if you remember nothing else, is that the market sets the price, not you the seller, nor any agent. No matter what you think it is worth, the market, and a willing and able buyer who wants YOUR house, will determine what it sells for. So, how ARE you going to set your price? Do you know what other homes have sold for in your area? Do you know where your competitors are priced? Keep in mind that buyers who look at homes for sale by UNREPRESENTED SELLERS are looking for a deal. Since you are not paying a commission to a listing agent, they will look for this additional discount when they make an offer, at a minimum...and it will typically be a low-ball offer to begin with.

 Friendly, neighborly advice - I can't tell you how many times I have heard that a seller's friends, family or neighbors gave them advice on pricing and how to sell the home themselves. Are these people experts on pricing and selling? Can they really be objective and tell you what the truth is about your home and it's salability? Do they know any more about the actual market conditions than you do? Or do they just read the papers and watch TV like you do? Keep in mind these people, while good intentioned, have no vested interest in your home selling - only YOU do (and an agent who is listing your home if you go that route). Just because your neighbor, who has the same house, got $X for his home 6 months ago does NOT mean you will now, with the changes that the market has seen. Be careful about the friendly, neighborly advice you get! And what you listen to. Your friends and neighbors aren't selling...YOU ARE!

 Competition - this is another critical issue. Do you KNOW who your competition is? And why they are your competition? Not just on your street but in the larger neighborhood and community? Do you know the details of other properties on the market that will be compared to your home (amenities, age, size, bedrooms, interior and exterior condition, pricing, seller concessions)? How can you insure that YOUR home is not the one that makes the competition a better value? Part of this is pricing, but there are other factors as well. What can you do to be sure YOUR home comes across as the best buy, not your neighbor's?

The value of a REALTOR is that YOU do not have these issues to worry about, at least not directly. For more information on how a REALTOR can add value to your transaction, visit my website.