To be effective at selling your own home, you must do a number of things... Remember a Realtor usually does this as their FULL TIME JOB, so you are going to be doing these things instead! It will take time, energy & of course money... But you can do it!
1. Learn the Market & Price you Home! First you want to do a CMA (Comparative Market Analysis) on your property. Attend open houses, scour the newspapers, monitor the market as much as possible. Its important to pay compare your home to homes with similar attributes and features (age, acreage, location, etc)
2. Market your Home: Once you have a value for your home, you'll need to set out a marketing plan. You'll need to decide what angles you should market your home such as "a great home for families", "low maintenance home for the busy worker", "great for a home business", etc.
3. Showing your Home: Showings are very important, so make sure to do them right!
Clean up the house! Seems simple right? Clean up the clutter in your home, you may have lovely things but you want the buyer to look at your wonderful home instead of your wonderful stuff! Keep beds made, keep the dishes out of the sink, carpets vacumed, you know what to do!
Try to keep it professional! When a buyer looks through your home, its normally done with an agent where they can freely express their thoughts and feelings about your home; in this case you, the owner are present and they cannot do this, so keep it to the basics about your home and try to give the buyers some privacy to talk.
4. Accepting An Offer: not every offer is going to be right for you. And you always want to make sure that the buyer can accually afford to purchase your home. Anyone can right up an offer to purchase, but not all buyers will qualify, this is where you want to look for a pre-approved (not-prequalified) buyer. Buyer contingency allow a buyer to back out of an offer for various reasons, such as inspections, sale of their home, loans and more. You want to limit these contingecy's and protect yourself through the sale; you don't want to start to purchase your next home and have your current home fall out of escrow because your buyer bailed on you! Do your home-work and know how an offer works!
5. Open Escrow: You are now thinking your work is over, well guess again! This is where the real work begins! Now inspections must be ordered, paperwork must be signed, re-negotiations happen, repairs are made, & so much in between!
6. Get required paperwork signed: There is a tremendous amount of paperwork that goes along with the sale of a home, and a lot of legal liability to go along with it, so make sure to do it right! Get a list of the required disclosures.
7. Close & Move! Now that all the paperwork is signed, and the repairs have been made, it's time to sign over the house to the new buyer at escrow. A few days later it will record at the county and it will be official... Your kicked out! Hopefully, you'll have a great new home that you'll be moving into also or some cash in your pocket!