First, get an appraisal. Second attend every open house. Third, pay attention to details - declutter, go neutral with paint . make sure the shrubs and grass are near perfect. No nicks in the paint - and CLEAN. Also highly advise getting an inspection, make fixes - then showcase that to perspective buyers. Do this even if you plan to have a realtor. That's all of the home seller's responsibility.
Although prices have increased, they still are less than 10 years ago. Do not expect to cover recent upgrades and improvements. We just sold our home - FSBO. Got same price as appraisal of 10 years ago - but have invested $25K in last few years. So that's our net loss. We still sold for 20% more than the more recent like sales. Why - we upgraded with anticipated buyer preferences, properly staged and had neutral decor. BTW - the location was Ballwin.
This is my third FSBO - and regardless if I had an agenct or chose to do it on my own, the ball is in the seller's court and it takes al lot of work to get property ready for sale. We are renting a house now - which was for sale for 6 months with no offers. The list of must fixes for the owner is very long - including cleaning, yard manicure and replacing basic appliances. Also it was over priced by 20% - in my opinion.
Should you want to try FSBO, be aware that buyers' agents do no like working with sellers who are not represented. So educate yourself about real estate transactions - contracts, riders, title companies. Be prepared to contribute to making this a smooth transaction, might require an attorney. The more you can do in advance and show your willingness to particpiate in a positive outcome, the more a buyer's agent will recomment to his/her client to work with you.
There are definitely a few successful FSBO stories out there, but I also know most FSBOs are unsuccessful.
I would suggest that you have a trusted friend go through your home as if they were a buyer and then tell you what they honestly think about the home - from wall paper to bad carpet to too much clutter, to bad layouts, on. Then I suggest that you go visit your competition that are on the market and honestly compare yourself to them - price, location, amenities, condition, staging, etc. If you aren't as good or better than they are, you aren't going to win the buyer.
Remember that you have to win not only the buyer but the buyers agent - if your home is difficult to show, they aren't going to waste their time trying to set an appt to show it. If you are insulting when you deal with them, they will take their clients somewhere else.
Coldwell Banker Gundaker