There are over 160,000 real estate agents in the U.S., and when they facilitate the buy or sale of a property, they take home a portion of the profits. Many people will tell you that selling your home without a real estate agent is a bad idea. But are they right? When you were selling your house, you want to keep as much profit as possible.
Tips for Selling Your House
Here’s what you need to know about how to sell your home without a real estate agent.
Preparing Your Home For Sale:
Are you wondering how to stage your home for selling?
You’ll want to get your house ready before you list it. Decluttering and cleaning up both the inside and the outside will make your home much more appealing to potential buyers. It might worth hiring a professional cleaning service, powerwash the outside, and update your landscaping. You might also consider repainting the interior walls with a neutral color and replacing outdated fixtures or appliances.
Pricing Your Property:
The most difficult aspects of selling your house without a real estate agent are pricing your property correctly. A real estate agent normally provides what is known as a comparative market analysis (CMA) to find the proper price for your home. This CMA takes into account the condition and features of your home and compares it with other houses that have sold recently in your area.
To price your property, you’ll want to do your market analysis. While using Zillow or Trulia isn’t the same as having full access to the MLS, it’s still an incredibly useful tool. You can also look through local tax records to learn about how many houses have been sold in your area.
How to List Your Home:
To list your home, you’ll need a bunch of quantitative information about the property. This information might already be on Zillow or Trulia, but you’ll want to check it to make sure it’s accurate.
Then, you’ll need to have photos taken. You can make these yourself, but it’s important to realize just how crucial the photographs are in influencing whether or not a buyer decides to look at a property.
Hiring a professional real estate photographer is not necessarily that expensive and can be very worth it. The description of your house should be a combination of sales copy and factual information that wasn’t covered in the standard listing. It’s important to think about what the selling points of your home are and relay this in the description.
You can then start listing your home. The first place to go is the MLS listings, which costs somewhere around $100 for six months. Your house can also be listed on various FSBO sites, some of which offer packages that include listings on the MLS, Zillow, or Trulia.
You can also post your home to Zillow and Trulia yourself. This is free if you’re trying to sell your home on the lowest budget possible. You can also use local classified sites like Craigslist and Nextdoor:
Other ideas include making a video tour of your home and putting it on YouTube or even making your home listing its own website. Plus, don’t forget to put a sign in your yard!
You are looking for more information on how to sell your house without a real estate agent? Check out this article about how to sell your house on your own.
How to Show Your Home:
When you’re showing your home without a real estate agent, you might want to hold an open house. To prepare for this, you can visit some of the other open houses in your area to get a sense of how they work.
This is an excellent way to have an exceptionally positive first impression of your home on the market. To do showings, you’ll want to buy a lockbox to keep your spare keys secure. You’ll want to verify the identities of buyers’ agents before allowing them to enter your home.
Be Prepared to Negotiate on the Price:
There is always an expectation in real estate that there will be offers and counteroffers. Therefore, you shouldn’t be offended when someone offers you less than your listing price. Remember, whether or not you think you know how much your house is worth, the actual worth of your home is how much someone is willing to pay for it.
In the same vein, there’s an expectation that there will be negotiation on both sides. You normally have two to three days to respond after an offer is made. If you already have an attorney, you might want to have them review the details with you.
Hire an Attorney:
While there’s no need for real estate agent involvement in all home sales, you would be benefitted by hiring a real estate attorney. This is because there is so much documentation involved when selling a house that you’ll want help with all the paperwork.
You’ll be best served by getting a dedicated real estate attorney rather than an attorney that deals with real estate from time to time. They’ll be able to do the work much more quickly and give you better advice.
Selling Your House: Why Not Keep More of the Profits?
Real estate is one of the most expensive investments most people ever make. While it can be daunting to consider taking on the job of a real estate agent, it can save you thousands if it’s done right. Basically, if you have more time than money, this might be the way for you. If you’re looking to put as little time in as possible, though, it might be worth dealing with the real estate agent commissions.
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