World Executives Digest| 10 Tips for Selling a House Without a Realtor |Are you looking to sell your home? Trying to sell your house without a real estate agent? If so, you could save up to 7 percent of the sales price—adding more money to your pocket!
You don’t need an agent for selling a house. Follow these tips on how to sell a house by owner.
#1 Get Your Home Ready
Before you start promoting and marketing your home, you need to get it ready. First, you need to start decluttering to help your home look bigger and avoid distractions to buyers.
You also want to depersonalize your home by removing photographs and anything else personal, so potential buyers can envision themselves in your home.
You can put stuff away in storage areas, closets, or the garage. For items you don’t want, you can donate, sell online, or host a garage sale.
After you declutter, it’s time to clean your house to make it sparkle. You can either clean yourself or hire a professional.
Make sure you get every surface, light fixture, corner, baseboard, and wall. You should also have your carpets deep cleaned.
If needed, add a fresh coat of paint to the walls with a neutral color, especially in the main rooms or rooms with a bright or dark color. You may also want to consider painting the trim if needed.
You can update your home with minimal costs by adding new fixtures, updating the handles on your cabinets, and replacing outdated appliances.
Don’t forget about your home’s exterior because this is the first thing potential buyers see. Keep your yard mowed, and remove all the weeds from your flower beds. Try refreshing the mulch and adding new flowers to brighten up the area.
Repaint if your home needs it. You should also take a look at your driveway for any large cracks.
Make sure your front door is inviting. Little things like a decorative wreath, potted plants, or new welcome mat can add a lot of pizzazz. You can also add new house numbers to spruce up the outside.
#2 Pick the Right Time to Sell
Depending on where you live, spring could be the best time to sell your home. A study found that 40 percent of home sales were from May-June.
November through February were the slowest times. However, if you really need to sell, there is less competition during these months. Buyers may be pickier in the summer months because there are more homes available.
#3 Set a Competitive Price
If you want to sell your house without a real estate agent, it’s really important that you determine a competitive market price. You will need to do your research to get the right price.
First, take a look at recent sales in your area of comparable homes. These include homes with similar square footage, bedrooms, bathrooms, and lot size. You could also hire an appraiser, which could avoid any surprises because buyers will need to hire an appraiser anyway.
Take a look at what is currently on the market and see how their prices compare to what you decide. If you ask a lower amount, your home will probably sell quicker or could create a bidding war.
#4 Determine Your Home’s Selling Points
As you get ready to list your home, determine what sets your home apart. Did you recently do upgrades or replace major items like the roof or furnace? Do you live in a desirable school district?
What attracted you to your home when you bought it? After you determine these advantages, make sure you get plenty of photos to show them off and write wording to highlight these areas.
Now you need to find ways to attract buyers to your home. First, add a “for sale” sign on your property with your phone number. Create a flyer to hand out at open houses or showings.
You can also find web sites to list your home like FSBO.com (For Sale By Owner). You will need to pay to advertise, but it will be a lot lower than paying an agent’s commission.
#6 Use the MLS
You can get your home on the MLS by paying a flat fee. You can gain a lot of exposure with other agents and potential buyers. Make sure to include plenty of high-quality photos in your listing.
#7 Host an Open House
You can hold an open house to attract people. Be sure to advertise online and put signs around the area.
Offer light refreshments to guests. Have them sign in, so you can follow up with people that seemed interested.
You should also have a flyer or brochure to pass out with plenty of photos. This way, buyers can remember your home.
#8 Be Patient
This may be one of the hardest things to do, but patience is key when selling your home. Don’t be disappointed if your open house was quiet and you aren’t getting several offers.
As time moves on, you may need to revisit your price and update your marketing efforts. You can lower the price to show buyers you are ready to sell.
#9 Be Prepared for Offers
Since you don’t have an agent, you are going to have to negotiate offers from buyers. You will have to either accept an offer or renegotiate with terms you prefer. You may have to do this multiple times until you both agree.
You have the right to reject unreasonable offers. Also, you have to follow all rules and laws in your state, such as The Fair Housing Act, which stipulates sellers can not discriminate buyers based on sex, religion, and race.
#10 Close the Sale
You may want to hire an attorney to review your purchase and sale agreement to avoid costly mistakes. You will also need a title company to manage the closing process.
Be prepared for the buyer’s home inspection. You may have to make requested repairs or lower your sales price based on the findings.
Selling a House Without a Realtor
You don’t always need an agent when selling a house. Follow these steps by getting your home ready, setting the right price, advertising, and listing your home on the MLS.
Do you feel inspired? If so, keep checking out our site for more real estate articles and advice.