In today’s Australian real estate market, selling real estate privately forms only a small percentage. Most homes are sold with the help of real estate agents.  The advent of Internet changed this altogether giving the home owners ample opportunity of selling their homes privately. The sales commissions of real estate agents are increasingly soaring to new highs making it unaffordable for many home sellers. Especially those with no equity in the property or with financial problems cannot afford to pay the agent commission find this option exciting. With some research, knowledge and negotiating skills, anyone can try selling real estate privately.  You should do a lot of homework such as researching the current local market conditions, compare prices of recently sold properties in the same area and know the exact legal procedures and calculate the cost involved in selling real estate privately.

It would be a good idea to ensure that the following steps are followed:

1. You can go to various real estate sites to find out the listed properties from your area and note down the asking prices homes similar to yours. Also make a comparison chart of the prices of recently sold properties. Having found the probable price you can then add your own costs or deduct the outstanding amounts that are to be paid towards mortgage, insurance and other charges and utility bills. You can have the house valued by an independent licensed professional.
2. It is advisable to have a solicitor or conveyancer to prepare the contract as they are experienced in dealing with the legal aspects of real estate sales. They will also offer guidance through the process of selling your real estate privately.
3. Consider the early offers if they nearly meet your goals and be prepared for negotiations. If the property stays longer in the market the number of buyers and the price will eventually do down.  Having the property on the market for too long weakens your negotiating position. The properties that are fresh fetch highest price. Usually you can know if there is any buyer from the same neighbourhood is interested in the house within three weeks.
4. Keep sign boards and distribute flyers in the neighbourhood for getting more exposure to your house on sale.  
5. Prepare an information document listing the features as well as the benefits of your property on sale.  In this document you can give details that usually go unnoticed during inspection. These information include land and home dimensions, polished floor boards , under floor heating if any, the distance to local shops, schools and hospitals.  
6. Prepare the home for inspection by improving its appearance by repainting, doing all repairs, cleaning the exteriors and interiors of the entire property besides mowing the lawns and tending to the garden.  These steps are necessary as they can make a good impression on the buyers’ mind and can also increase the value of the house significantly.
7. Get the paperwork done by a legal professional who is experienced in preparing the documentation for selling real estate privately.  
8. Keep the most recent pest and building reports ready.

Homeowners can rely on the internet and websites dedicated to FSBO for help through the process.  The process of selling real estate privately may involve a lot of work but it is really worth the effort.