Have you ever wondered how to be your own real estate agent selling your home? Below is a step by step guide by Jason Steele.

1. How To Price Your Home to Sell

Before you list the property on the Multiple Listing Service (MLS) or anywhere else, make sure you’ve priced the home competitively. Use the Internet to get an idea of selling prices for comparable  homes in your neighborhood, and then price your house accordingly.

It’s easy to get hung up on this step and, especially if you’ve lived in your home for some time, you may feel compelled to overprice the home. Don’t fall into that trap. Remember, the goal of this process is to sell your home, so make sure the asking price is realistic.

2. How To Market Your Property

In addition to listing the home on the MLS, advertise by putting up “for sale” signs, creating brochures, putting ads on Craigslist, and building a web site to market the property. FSBO.com offers home-selling packages for homeowners that begin at $69.95. The marketing packages include items like brochures and yard signs. There will be some costs involved in advertising the sale of your home, but they will be a fraction of an agent’s commission. The real cost is the amount of time and energy you will need to put into selling your home.

3. How To Hold an Open House

You can also hold an open house to advertise the sale of your home. Advertise for the open house by posting signs in your neighborhood. Have some light refreshments available and set out brochures about the home that visitors can take with them as they leave.

4. How To Know Your Property’s Selling Points

When writing your ad copy for websites or brochures, make sure to include basic information about the house, including the price, number of bedrooms, number of bathrooms, lot size, location, and of course the specific details that make the house special to potential buyers.

Take a look at other listings on Craigslist, Realtors’ websites, and Yahoo! Real Estate to get a sense of what sort of details sellers and agents are including in their listings. You’ll quickly find out that features like granite countertops, stainless steel appliances, and oversized windows entice buyers. Determine what’s special about your home and highlight those features in your marketing efforts.

5. How To Prepare to Show Your House

You will have to prepare your house for showings and open house events. Deep-clean the house, including scrubbing the kitchen counters and the appliances, shampooing the carpets, cleaning the linoleum, and stashing your keepsakes in a closet. The final result should be a home that’s squeaky clean and stripped bare of most personal items.

6. How To Show Your House

You will have to place a key in a lock box and answer calls from other agents or  buyers. If you are at home during the day, you can show the house yourself. Otherwise, you will have to verify the identity of the agent before giving out your lock box combination.

Another option is to find an a la carte real estate agent who will perform this function for a fee without asking you for a commission on the sale price of the house. After an agent shows your house, be sure to call to follow up on the showing. Some agents will share the buyer’s feedback with the homeowner, if they feel it won’t compromise their clients’ confidentiality.

7. How To Perform Your Own Negotiations

Real estate negotiations take the form of a contract that is submitted to the seller. The seller can accept the offer, or revise the contract and submit it to the buyer. The process continues until both parties sign a contract.

In most states, there is a standard contract for real estate purchases. If you are not familiar with the contract, you should have it reviewed by an attorney. Or, you can find a real estate agent that will perform this function with you for a flat fee. Having gone through this process before, I was able to consult with family members who were real estate agents and attorneys, and then negotiate with the other party to sell my home.

Written by Jason Steele (Money Crashers)