Five Tips for the Home Seller

1. Surf the Web.

A NAR survey found a twelve-fold rise in the number of Internet home shoppers during the previous three years. Services like Domania.com's Home Values will help you assess your property's value, using many of the same tools (comps) as a REALTOR®. There are plenty of other real estate sites worth checking out. However, not all real estate sites are created equally, so surf wisely.

2. Determine the "right" time to sell.

Spring and fall are usually the hottest home-shopping periods, but the downside is that a glut of products makes it hard for yours to stand out. While your location can be a factor (i.e., it's easier to sell a Los Angeles home in the winter), some elements of timing remain constant. For instance, the last week of December may never be a good time to show your house.

3. Decide whether you will conduct a "FSBO" (for sale by owner), buy new construction or hire a real estate agent.

It used to be thought that selling your own home could save you thousands in commissions (about 5% to 7% of the sale price). Nowadays, brokerages selling MLS homes and new construction are offering cash-back incentives and rebates that have blunted the appeal of the "go it alone" route. According to the National Association of Realtors, more than half of the people who do sell their home themselves say they would not do it again.

4. If you hire a real estate agent, do so thoughtfully.

Interview several candidates and check references. The National Association of Realtors (NAR) suggests that you ask prospective agents to create a comparative market analysis, a marketing profile, and a suggested list price for your home. You might also want to compare REALTORS®.

5. Consider MLS Listings.

MLS Data (multiple listing service) is collected by real estate agents around the country. While MLS data looks comprehensive, keep in mind that not all MLS are the same. In fact, neighboring real estate franchises have occasionally been known to feature conflicting information.