If you are considering or have decided to sell your home without the help of a real estate agent, your main motivation is likely the prospect of saving both time and money. While it can be done, ensuring that you don’t spend more money marketing your home and waste hours and hours on finding a buyer takes careful research and planning.
Before embarking on the “For Sale By Owner” journey, you will need to learn about the current real estate market, popular real estate trends, marketing a home, pricing a home, and the closing process. Going into the process with a good idea of what needs to be accomplished to successfully sell your home without an agent, while saving time and money, will help the process go much more smoothly and leave you better prepared to tackle this huge challenge on your own.
Learning about the current real estate market where your home will be listed is crucial to selling your home on your own. You should gain both general and very specific knowledge about the market, beginning with if it’s a buyer’s or seller’s market, if there is a high demand for homes, and in what areas of your city or region buyers are most interested. Once you feel in the know about the market in general, move on to more specific information.
To get a good idea of how to price and market your home, research homes similar to your own in the local market. Taking note of listing prices is important, but you should also note which features and amenities your home has in common with those you find online, what neighborhoods the homes are in, how long the houses have been on the market, and whether or not the seller is working with an agent. All of these factors play a role in determining a listing price and can help you determine a fair listing price for your own home.
When you sell your home without a realtor, you are not responsible for paying commission, which is usually included in the listing price. This means that you have the freedom to price your home slightly lower than comparable homes on the market, giving your home a competitive edge and drawing in more buyers. Alternatively, you can keep the price as high as you would if you were including commission and pocket the extra five to six percent at the end of the sale.
Pay attention to where you found local listings. Since you will be working without a realtor, you’ll need to do all the marketing for your home one your own. At the end of the day, no matter how fairly priced or visually appealing your house is, nobody will buy a home that they don’t know is on the market. Ads in local newspapers and publications are the most economical way to market a home, though you’ll likely have more success if you list online. You will pay more money, but get more interest and usually some additional marketing materials if you work with listing services. If you don’t work with a service, you’ll also need to invest in yard signs, printable flyers, and instructional materials.
Finally, the most important thing you can do to save time in selling your home on your own is to screen buyers. Banks have continued to tighten their lending restrictions, making it more difficult for buyers to get mortgage approval. Before anything goes in writing, demand proof that the buyer has been pre-approved for a loan. Though some sellers might be uncomfortable asking for a letter from the bank, it will keep you from wasting time and effort on buyers who are not serious contenders.
Stress is one of the largest concerns when selling a home. Staging, managing finances and documents, and simultaneously juggling the rest of your life can be completely draining. However, one thing is certain about selling your home: it’s a lot easier when you have a solid real estate agent to handle it. Remember, No-One Works Harder to Sell your Home more than Joe! Contact Joe today by calling 813-908-7293 or visit https://josephlewkowicz.com/