Okay, this post is going to ruffle some feathers, but I think it’s worth it to share these insights.

As a realtor in the Lake Norman area, I don’t usually advise people to sell their homes on their own, i.e., “For Sale by Owner” (FSBO).

But if you are absolutely, positively convinced that you do not want to hire a professional real estate agent to list your house, there are certain things I would highly recommend doing to get top dollar.

Full transparency: this is my personal to-do list that I use to promote my listings here in Lake Norman. There’s so much to share that it wouldn’t fit in a Facebook post, and there’s even more where this came from.

In other words, if you have any questions after reading, please feel free to reach out. I’m always happy to discuss these tips. Plus, I’m hoping it will build some goodwill for the future. Who knows? Maybe five or ten years down the road, you’ll decide to work with me! And if not, that’s cool, too. I hope this advice is valuable to you either way.

So, to begin, I suggest doing a lot of research on homes for sale in your neighborhood. You want to know the perfect price for your home because this determines the number of offers you’ll receive.

Ideally, you’ll ignite a multiple-offer situation where buyers are competing against each other and bidding up the price. But this won’t happen if your home is already too expensive! Paradoxically, you’ll likely get a higher final sale by listing at a reasonable price and then waiting for potential buyers to maximize it in a bidding war.

This whole process starts with your research on similar homes in your area. What are they selling for these days??? It’s your job to find out.

Keep in mind that I often spend hours researching comparable sales from the last 12 months, both online and in person. This is because common metrics like “price per square foot” can be misleading. They assume that the two homes being compared are identical (same flooring, same countertops, same roof age, same lot size, etc.). But there are so many variables that make homes unique, and they’re all relevant!

A good real estate agent does hours of research on this because it is that important. It also comes in handy if you need to negotiate with buyers. If you know the market inside and out and can reference WHY you selected X price, your counter-offers will have much more substance and will likely be accepted.

People don’t like to feel like they’re being “out-negotiated,” but if you appeal to the actual data, it removes the emotional friction from the conversation. And again, it all starts with research!

The initial list price makes a big difference in how the public perceives your house. If you’re selling FSBO, you owe it to yourself to spend as much time as a realtor would on research. It could cost you tens of thousands of dollars if you don’t.

After you’ve done your market research, it’s time to formulate your advertising and promotional plan. It’s not enough to just stick a sign in your yard, cross your fingers, and hope that the phone rings.

Even in a hot seller’s market, you still need to present your home in such a way that it commands a premium price. You’ll probably get phone calls and interest no matter what, but excellent marketing is the difference between selling at an amazing price versus a pretty good one.

This is why I spend several thousand dollars every month on my marketing plan. Most of it goes into social media advertising campaigns on Facebook, Instagram, and YouTube. This is where many people do their research, so it makes sense to invest your marketing dollars in these platforms.

But it’s not enough to just upload a video to YouTube or post some photos on Facebook. If you’re serious about selling, you must invest money into paid, targeted advertising campaigns. This is the difference between a social media post getting a few hundred views and tens of thousands.

I would caution against “saving money” by skimping on the marketing plan. It will not save you money, but it could cost you tens of thousands of dollars by not selling your home for the highest price possible.

Moreover, I beg of you, do not take your own listing photos!!! Hire a professional photographer who specializes in real estate photography. They’ll often use a variety of lenses and good lighting to make your home look as spacious and luxurious as possible.

The professionalism of your photos will affect the interest your home receives. Don’t skip this step!

When you’re selling your home, which is likely your biggest financial asset, it makes no sense to skimp on marketing. Remember, you want to generate as much attention as possible so that multiple buyers want your home, bid against each other, and push the price up higher and higher.

Honestly, I don’t even think of the thousands of dollars I spend on marketing every month as a “cost.” It’s more of an investment. And if it helps my clients sell their homes for top dollar, it’s a great investment!

Of course, there are plenty of other ways to promote a positive FSBO experience. You can hire a licensed home inspector before listing, invest a few hundred dollars in professional cleaning (especially if your home smells like pets, food, or mildew), and keep your phone on you at all times. You don’t want to miss a call from a potential buyer.

You should also consider hiring an attorney and/or a real estate agent to guide you through the legal paperwork involved in selling a home. Doing it yourself is a big no-no (and an even bigger headache).

And finally, you must be a strong negotiator. This is one of the main reasons why it often makes sense to hire a real estate agent. Studies show that because they’re professional negotiators, realtors typically sell homes for a much higher price than owners. For that reason alone, it probably makes sense to hire an agent instead of doing all of this by yourself.

But if you’re still determined to sell your home without a realtor, one book I recommend on advanced negotiation tactics is Never Split the Difference by Christopher Voss. He used to work for the FBI, so his lessons on the psychology of negotiation are very powerful.

Wishing you all the best as you prepare to sell your Lake Norman home! And remember, if you have any questions, feel free to reach out. I’m happy to help.