First, let’s look at some reasons you might want to avoid hiring a real estate agent: on average they will charge 6% of your final sale price as commission, which can be up to $20,000 on a home worth $300,000, they may not have expertise in your particular market or neighborhood; and since their commissions come out before yours do, they won’t work as hard as you would if there was no commission involved. Ouch!
There is lots of evidence that, if you’re selling a home for sale by owner, you can save yourself a lot of money. But this is not to say that you should sell your house without an agent.
There are risks involved with doing so as well:
For example, your house might sit on the market for too long, making it more likely to be passed over; you might make false assumptions about what your house is worth (or even ask an outrageous asking price!), and you may not know all of your legal responsibilities as a seller. Even if you do end up selling your home without an agent this way, it might not be the best option.
Before you do anything else, it’s a good idea to consult with somebody who knows about real estate law and can give you an objective opinion on whether or not your home is likely to sell for the price you want if you try to sell without using a real estate agent. It might be cheaper than using an agent in the end, but if your house doesn’t sell it won’t matter.
How you can get more money for your home by selling it yourself
House For Sale By Owner
One of the biggest benefits of selling your house yourself is that you know it inside and out. You know what’s good, what needs work, and how to price your home. If you want to get the most money for your home, prepare for an open house (at least 2 weeks out) by having food delivered for guests. Update all of the pictures online and make a virtual tour to attract buyers from outside your community.
For a last-minute sale, try turning off all utilities and air conditioning so clothes will have an unpleasant smell. Sellers should avoid scheduling any work during their open house or putting up any ‘for sale’ signs until after it ends because this will likely turn potential buyers away.
How to sell your home fast and easy by owner
Get an accurate appraisal of your property so that you know what it is worth. This can be done by an appraiser or realtor who specializes in selling homes like yours. It is important because if you price your property too high, buyers won’t even look at it. If this happens, they may take their offer off the table entirely, leaving you waiting months for another buyer to come along which could cost thousands of dollars in lost revenue!
You should also research the current housing market in your area. If you are planning to sell your property by yourself, the odds of getting top dollar for it are very low. Unless you have sold homes before and know what you’re doing, this is not a good idea because selling a home isn’t like selling other items such as cars or clothes. Even if someone can afford your home, they may not want to purchase it if it isn’t in good condition. On the other hand, homes that are of higher quality and maintained will be the first ones to sell.
You should also do some marketing for yourself. If you can get into contact with family members or friends of families who might be interested in buying your home, you should try to get in touch with them. You can use social media sites like Facebook or Twitter to create ads that will reach many people who are interested in buying homes similar to yours. By doing this, you will have more viewers for your property which will also allow you to sell it faster and at a higher price.
How to avoid getting scammed when selling your house
Before you list it on the market, there’s one thing that needs to be addressed:
There are a lot of people out there who want to take advantage of unsuspecting homeowners by offering them quick fixes or free services they don’t need in order to steal their hard-earned money and possessions.
The AARP recently released a list of home improvement scams to watch out for when selling your house, including:
– Someone who identifies themselves as a contractor or service provider but is unlicensed. If someone wants to work on your house, they should be licensed. If they’re not, that’s a red flag.
– Someone offering to help you lower your mortgage payments only to tack on new fees or raise the total cost of the loan.
– Someone who says your home is under contract with them but never actually signs a contract with you.
– A contractor taking your money upfront but doing a terrible job or never completing the work.
– Someone claiming that they want to buy your house but that you need to make repairs or renovations first, then they’ll handle everything else. This is a scam!
What can you do to avoid these scams?
Here are a few tips:
– Get recommendations from friends and family who have recently sold homes. If they had a positive experience with someone, chances are you will too. If they have any negative experiences to share, take note!
– Do your research in advance – research your local area for contractor recommendations, read the BBB Scam Tracker Blog, and check individual company profiles on Angie’s List.
– Never pay anyone upfront for their work. Only give money directly to the person doing the work when it’s complete. If you are wary of someone or are unsure about whether they are legitimate, find someone else.
– Get estimates before having repairs made and compare rates among contractors for the same job to avoid being overcharged or scammed into paying more money than you should. Also, make sure the contractor is licensed and insured.
If you are concerned about potential fraud when selling your home, talk to an expert in our community or contact a Title Insurance or a Real estate Lawyer. They can help you.
So, what are some popular websites where you can advertise your property?
Zillow — The most popular website among FSBOs, it offers all sorts of helpful tools to help you price your home properly while still showing it off online so potential buyers will know exactly what they’re getting into when they make an offer on your property.
Trulia — While Zillow may be the leader of FSBO sales, Trulia is a close second and definitely worth checking out.
Craigslist — While some people may not consider this website a viable option since both buyer and seller have to meet in person, it does offer a good way to get your home on the market and start to receive offers.
Houzz — If you plan on doing a major renovation or a complete makeover before selling your home, this is the website for you. It’s all about architecture and remodeling – plus it has a great community where homeowners can share their own renovation plans with others who may be able to offer advice or just help spread the word.
ForSaleByOwner — This website is a great option for those who want to sell their home without expensive broker fees and all the paperwork. It’s also free, so there’s no reason not to give it a try – though you may have to pay extra if you want them to advertise by putting up yard signs or placing ads in local publications.
Movoto — This website offers a free valuation of your property, but it also has an option to advertise your home if you’re looking for a quick sale.
Facebook Marketplace— It’s no secret that we all use Facebook. Today, it is not simply another social media platform; it connects individuals who are here for a purpose. The reason why Craigslist lost its credibility was due to Facebook Marketplace. Listing on Facebook Marketplace is completely free, but you may pay to boost exposure for your ad if you wish to get more attention.
To obtain more attention. Include your ad in a variety of relevant groups without breaking group rules. This is one of the most effective for sale by owner sites to assist buyers looking to purchase a property.
Conclusion
The decision to sell your home by owner is a big one, and we know you want the process to be as seamless and efficient as possible. That’s why we created the realzelle community of experts who are eager to answer any questions you might have about selling without listing with an agent. We hope that our resources will help make this choice easier for you.
