When you decide to sell your house yourself, " You Become The Realtor". You will be doing all the things that the real estate agent would do for you over the course of time that your property will be on the market. So lets get started.
If you are trying or considering selling your house yourself, here are some good tips that will help you do just that. Selling a home is not complicated if you have all the tools and resources necessary to be successful.
When you decide to sell your house yourself, ” You Become The Realtor”. You will be doing all the things that the real estate agent would do for you over the course of time that your property will be on the market. So let’s get started.
Number one, you will need to prepare the property for sale. This is something that you would need to do whether or not you were represented by a realtor. With that in mind, consider all the things that need to be done that help your home show better.
For example, a painted home looks better than one that hasn’t been painted in years. Clean carpets, a freshly cut lawn and a front door that’s fresh will go a long way to ensure you get lots of showings. However, even though pool homes are selling well in your area doesn’t mean that you should install a pool.”You Get The Point”.Secondly,
The price you home competitively. There are many ways that you can get your property priced so that you are not too high or low. There are many things that affect the value of a home. Market conditions being at the top of the list. So that you get your property priced right, consider the following ways you can get help in doing so.
Get A Free Market Analysis
You can get a local Real Estate agent to provide you with a Free Market Analysis of the property. Many agents do this in hopes of eventually getting you as a listing. (Which is a fair trade-off). In the end, you may need the services or want the services of a real estate professional.
You can have an Appraisal done, or use online resources to help you with valuing your home. Zillow.com and Realtor.com are great places to go to. Thirdly, list your home on the Multiple Listing Service (MLS). You are probably saying to your self, I can’t do that, I’m not a Realtor. This couldn’t be further from the truth. I’m going to leave you with a resource that will help you get on the MLS for a ‘Flat Fee”.
The Multiple Listing Service is the largest network of properties on the market. You can also get listed on Zillow.com and Realtor.com as a For Sale By Owner.4th, Market your home or property. There are many ways that you can market your property.
The internet is the number one way that prospective buyers look and seek out properties before they buy. A recent report by the National Association of Realtors suggested that 90% of all Millennial’s started their search for a home via the web. So what do you need to know?
Post your property on Facebook, Craig’s List put together a single-page website of your property and post a video of your property on YouTube. Tip: Video’s rank higher and quicker on Google than any other method.
Make sure that your marketing efforts are driven with High-Quality Photos. I can’t stress enough. We just stated that 90% of all Millennial’s use the internet to shop for a new home. So what do you think they do…. They look at the best Pics, Video, and 360s. If don’t present the property well visually, you will be passed over. “Get Good Pics” Period!
5th, Hold an Open House. This may seem a little old school. But if you have followed the previous steps, you have prospective buyers that want to physically see the property.
When having an open house make sure your home is ready. pen houses can be effective, you just have to be prepared to speak to potential buyers and an occasional Realtor that might wander in. The sixth tip is to be prepared to negotiate with buyers. Everyone wants “A Deal” and most buyers are not afraid to ask for one.
So it’s up to you to be firm, but flexible. I spent 10 years as a Realtor and have seen every crazy offer you could imagine. Many of those crazy offers actually closed. The reason I tell you this is, be open and listen to what a buyer may be suggesting
Learn To Negotiate
As an example. If a buyer is offering you your full-price but wants you to pay all the cost associated with closing you may think this is a great offer. Another buyer says that he will offer you $5000 less on the sales price and he will pay all the closing cost you may think,” I’m not taking a $5000 reduction in the sales price, that’s too low of an offer”.
When looking at your NET, you determine that in fact, the second offer puts more money in your pocket. Pro tip: Look at the bottom line before agreeing to any offer.7th tip: Make sure you are aware of the laws pertaining to real estate transactions in your local area. This is not to scare you, it’s simply to say that make sure you are aware of what is required of you when it comes to showing, selling and closing a property.
As an example, you can not pick and choose who you show or sell your property to. Stated another way, you can’t discriminate against potential buyers. Additionally, you may need to provide things like survey’s inspection reports such as termite reports, roof inspections and other documents to ensure you are compliant. Enough of the legal stuff, let’s move on.
Summer Time Blues
Lastly, pick the right time to sell your property. Summer is statistically the best time to sell a property. However, that doesn’t mean that you should wait till summer to sell, it’s just how the selling season roll’s. In summary, selling a property can be very time-consuming. However, if you have the time and patience, you can and will save thousands of dollars.
Final Pro Tip: Consider using a Realtor for the things that you are not good at or comfortable with. Many agents offer what is called a limited-service agreement where you basically have the agent negotiate the contract, do one-off showings and other one-time tasks. This can also help you save a lot of money while having a professional on your side. Until next time, Happy Showings