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4. Market it correctly
The Internet can be a big help in marketing a property. Sites ForSaleByOwner.com and Owners.com, for example, allow a seller to post a listing to gain Internet exposure. Visit ForSaleByOwner.com. Visit Owners.com.
Other online options include community marketplaces such as Craigslist.org and portals such as Yahoo. When placing a newspaper ad, also make sure to ask if it will be posted online for free, Nichole said.

But don’t underestimate the power of a sign, she added. Directional signs can call attention to a home from nearby roadways, and signs in front of the home should have an information tube or box filled with informational flyers. Just make sure you’re clear on area sign laws.

And consider listing on the Multiple Listing Service as well, she added.
“The MLS sells more homes than any other method,” Nichole said. “If a buyer’s agent finds a buyer for your home, you would only pay one commission.”

5. Get support lined up
Decide early on whose services to use for the paperwork, Sambrotto said. That means either finding a title company or a real estate attorney to assist in completing the sale.
When interviewing professionals, a seller might want to ask whether they have worked with for-sale-by-owner clients before, and how many of those clients they’ve had in the past month, Udelson said. “Pick the one that’s most enthusiastic,” he said.

6. Make sure a buyer can afford it
“When it does come time to deal with a buyer, it’s a good idea to have a written preapproval,” Udelson said. Working with a buyer who is preapproved for a mortgage will remove some potential surprises from the closing process.

Nichole said that one of the most common problems that a for sale by owner will run into is getting to closing only to find out that the buyer couldn’t afford the house — “causing them to start the selling process all over again.”

By Amy Hoak, MarketWatch
Source: marketwatch.com