Can I sell my home without a realtor?
Of course you can, and it may even help you sell your house faster.
According to the National Association of Realtors, for sale by owner homes sold more quickly on the market than homes listed with agents, with 58% selling in less than two weeks. But it’s important to note that this is often because the seller sold it to someone they know.
While it may involve more work, it’s still possible to sell your home without a realtor. That said, whether you know someone interested in your home or you want to save money on commissions, here are a few tips for selling your home without an agent.
Establish a fair price for your home
When pricing your home, it’s important to leave your emotions at the front door. While you may think your home is worth well above market value, you need to look at the hard data before determining a listing price.
If you make the mistake of pricing your home too high, you may deter potential buyers. With or without a realtor, pricing your home just right is one of the most important factors for selling your property.
To get an idea of what you should list your home for, consider researching the prices of other homes sold in your neighborhood. You can find this information on sites like Trulia. Also, look at local property tax records by checking with your state assessor’s office or county clerk.
You can also visit the Federal Housing Finance Agency website, which offers tools and resources to help you find home sale information from mortgages backed by the Federal Housing Administration, Fannie Mae, and Freddie Mac.
Another option is to hire a professional real estate appraiser. The national average cost of this service typically runs between $312 and $404, according to Home Advisor. However, since this option costs money, you may want to use it as a last resort.
Prepare your home for listing
Whether you’re hiring a realtor or not, preparing your home for sale is a crucial step to ensuring it looks perfect when you put it on the market. Getting your home in tiptop shape can make sure you get the most money out of your home. That said, here are some prepping tips:
• Deep clean: You want to make sure your home sparkles. So, make sure you shampoo your carpets, wash windows, power-wash the driveway and siding, scrub the tiles, and dust every corner.
• Declutter: Potential buyers want to envision themselves living in your home. They can’t do that if you have a lot of personal belongings lying around or family photos everywhere. Therefore, take the time to put personal items away and keepsakes in storage.
• Set the stage: Use some of your furniture or hire a professional stager to help you make your home look organized and spacious.
• Find a place for your pets: Any signs of pets can deter potential buyers. Therefore, when potential buyers come to look at your home, make sure to have a plan for your pets and their belongings. You may also want to sweep and vacuum to make sure no pet fur is present.
• Make needed repairs: While you don’t need to completely remodel your abode, it’s wise to fix any small repairs.
• Add light: Make sure all of your blinds are open and the sun can shine in. Also, replace any lightbulbs that are out or add lamps where there may not be enough light. The brighter your home is, the bigger and more spacious it may seem.
• Touch up the exterior: Pull weeds, plant flowers, and repaint your door so you can make a great first impression when potential buyers walk up to your home.
• Lock up your valuables: Make sure any money, prescriptions, valuables, or personal information is locked away somewhere safe.
Advertise
To sell your home in today’s market, you must prioritize advertising. From hiring a professional photographer to crafting the perfect listing description, your home’s online presence must be professional and attention-grabbing.
While hiring a professional photographer may be an extra cost, the investment might be worth it. In fact, according to the Zillow Group Report, 76% of buyers who bought their home in the last 12 months said that viewing professional photos was important to their home-buying process.
List your home on sites like Zillow, For Sale By Owner, or Trulia. Once you’ve created the perfect listing, post it on a social media site like Facebook. You may also want to ask your friends and family to share it.
Additionally, put a for-sale sign in your front yard, letting your neighbors know that your home is for sale so they can spread the word.
Act like a realtor
Some potential buyers might be wary of working with an owner instead of a realtor for fear the process will take longer. Therefore, ease their fears by acting like a “real” agent.
You’ll want to answer calls at all hours, be flexible with showings, take any feedback seriously, host an open house, and make sure your home doesn’t just sit on the market. If you’re still not getting a lot of buyer attention, consider lowering the price.
Qualify potential buyers
You don’t want just anyone walking through your door, potentially compromising you and your family’s safety. Therefore, if you’re hosting a private showing or an open house, make sure to ask for contact information from everyone, including the buyer’s agent. You may also want to ask for IDs so you have a record of everyone who visits your home.
Let every buyer know that all offers must be submitted with a mortgage pre-approval letter or proof of funds if they’re paying with cash. This way, only serious buyers will submit offers.
Hire a real estate attorney
Real estate transactions have piles and piles of required paperwork. That’s why it’s important to understand what you’re signing.
If you don’t have a realtor, you may want to consider hiring a real estate attorney to review your documents. Some states require you to have a real estate attorney look over all real estate transactions even if you don’t have an agent.
Selling your home is a big deal, so you want to make sure you cross your t’s and dot your i’s.
Consider hiring a realtor
Selling your home without a realtor takes patience, organizational skills, and a lot of time. Many homeowners underestimate what it takes to sell your home this way. That said, you may want to carefully consider hiring a realtor. While listing your own home could save you up to 6% in commission, the home-selling process may be more than you can handle.
However, if you still want to forgo a realtor, some realtors offer limited services to help you with the sale of your property. For example, through For Sale By Owner, sellers can buy a market analysis or have an agent review their purchase contract for a couple hundred dollars.
This article was originally published here by our partner Progressive. To learn more about homeowners’ insurance contact: Tague Insurance.
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