Selling your house without the assistance of a real estate agent may seem like a daunting task. However, towns of people do it, so it shouldn’t be so overwhelming for you if you know how to go about it. Perhaps the seemingly frightening part is that you will be the one to do all the realtor responsibilities from showing to marketing, vetting prospective buyers, negotiation, and processing the paperwork before finalizing the sale. This means that you will need to invest some substantial time and effort from the beginning to the end to ensure a smooth sail.
If you are considering selling your home and you don’t want to involve a realtor, this piece should be a source of inspiration. Here are some pointers you want to read on selling your house without a real estate agent.
1. Prepare Your House for Sale
First things first, you need to put yourself in the shoes of the buyer and view the house in their spectacles. What would you love about the house? What wouldn’t you love about the house? By asking yourself those questions, you will know what needs to be improved or renovated to make your house more sellable.
Well, this might be a bit challenging since you have been living in the house but it is still necessary. You may even decide to get an outsider’s opinion-someone who will be 100% honest and you won’t be offended by their opinion. Also, don’t cut corners when preparing your house for selling. If the house has any fault, ensure you get the house inspected and do any necessary repairs, from leaky faucets to lose door handles, faulty electric switches, and so forth. If need be, give it a quick touch-up or repaint to any rooms that look old and tired. This helps make your home more appealing to a potential buyer.
2. Set a Realistic Asking Price
Truth be told, one of the biggest mistakes most people do when selling their houses on their own is setting unrealistic prices. Don’t be tempted to assume that your house is worth more than it really is. The good news though is, even if you may lack the required property value evaluation skills, there are numerous online tools and resources to help you with that. You just need to provide factors such as location, square footage, number of bedrooms, bathrooms, etc.
Additionally, finding out what comparable homes in your neighborhood are sold for goes a long way in helping you to set a price that is not only realistic but also competitive. If you’re still unable to set a realistic price, consider hiring an appraiser to help you get an appropriate estimate.
3. Advertise! Advertise! Advertise!
Advertising is the key to getting as many people as possible to know that you’re selling your house. These days, just sticking a “house on sale” sign in your yard is not enough. There are various advertising options to consider, with online listings being the undisputed champion of all.
Even as you share it with your friends and followers on social media, remember to utilize a reputed real estate listing site in your local area or state. This is especially the case if the house is located in California where the real estate market is quite competitive. Go ahead and be listed in the MLS under the respective county where the house for sale is located. This will increase the chances of landing a serious client fast. The wider market also means that you have higher chances of selling your house at the maximum price.
4. Hold an Open House
Holding an open house is another crucial thing to consider when selling your house. In fact, you even don’t need an agent when holding an open house to advertise the sale of your house. There isn’t any rocket science in getting buyers to visit your open house effectively. Just post the images and details of the house online, along with a few ‘for sale’ signs strategically in the neighborhood. You will be surprised with the number of potential buyers that would show up. Also, don’t forget to provide some refreshments as well as nicely designed brochures for the visitors during the Open House day. They work wonders.
5. Negotiate With the Buyer Yourself
So, you have found a buyer? Congratulations! Remember, you are not working with any real estate agent. Therefore, you will have to do all the negotiations directly with the buyers. However, this shouldn’t be a hassle for you. Selling a house is a give-and-take situation. A potential buyer will certainly give an offer that is below your asking price. It is up to you to decide on how low you are willing to go. After coming to an agreement with the seller, you will have to sign a contract spelling out each and every detail regarding the sale.
As highlighted above, it is very possible to sell your house without the assistance of a real estate agent. While the whole process might seem intimidating, many people do it successfully. Additionally, you could save thousands of dollars, if not tens of them off the sale from what you would have used to pay the agent.