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Selling Your Home Yourself
Deciding to sell your home is a big decision in and of itself, but weighing whether or not to use a real estate agent can determine several factors in the selling process. There are many benefits of choosing to sell your home on your own, of which most important is the money you will save.
Choosing to sell without an agent can prove to be a lot of work, but may be very worth it in the end if you do it right. Here are several reasons to consider selling your home on your own:
- Save Money: Cutting out the middle person when selling a home can save you approximately 6% of the sale of your home which would otherwise be spent on the commission to the real estate agent. In some states, the commission savings could be even higher than this.
- Internet Access: Just about everyone has access to the internet and agents can no longer monopolize all the available information or websites, which makes advertising a home for sale by owner very simple.
- Price Control: When selling your own home without an agent, you have more control over the price that you sell for, even making it possible to get more money from your home than you would with an agent.
- Buyer Control: When selling your home without an agent, you remain in control of the selling process and can be more selective about who you let in your home. You control the entire process from screening buyers all the way to the closing and can work at your own pace. Relying on an agent can be time consuming and nerve wracking to say the least.
Getting Ready To Sell
When getting ready to sell your home, there are many things to remember to ensure a successful sale. One cannot possibly do them all, but here are a few things that should be at the top of your list of things to do:
- Research: Research your home and know what it's worth. Dig up old records and get a pre-inspection done well in advance to prevent any surprises later on. Knowing what your home is worth up front will save you time and possible disappointments down the line. Check the going price for similar homes in your neighborhood and make sure you are pricing adequately.
- Appraisal: Have a professional perform a full appraisal on your home in advance. Having this information ahead of time is the key to pricing appropriately and selling your home in a timely fashion. Nothing is more insulting than asking a buyer to pay for a home more than it is actually worth.
- Repairs: Get repairs done in advance so when it's time to sell you can focus on selling. Last minute touchups are expected, but the major things like flooring, roofing, or landscaping should be done well ahead of schedule.
- Help: Recruit help from your friends and family to clean up, do repairs, and even advertise. All the help you can get will ensure the process goes much smoother than if you worked by yourself.
How To Advertise Your Home
Advertising your for sale by owner home (FSBO) can vary person to person. Here are some pointers on how to advertise your home:
- Signs: Use pre-printed signs and place them in your yard and in key areas in your neighborhood.
- Internet: Advertise online though various sites such as Craigslist, ForSaleByOwner.com, or other specialty sites to get the most exposure for your home.
- Talk: Use word of mouth, emails, and phone calls to people you know to get the word out about your home for sale. Someone may know a friend or family member who is looking to buy.
As you can see, selling your home without using an agent can be worth it in the end. Doing proper research of your area, the quality and value of your home, and making the appropriate repairs in a timely fashion can prove to be well worth the efforts. The real estate agents can be helpful, but extremely costly. Learning to be your own agent, advertising well, and learning about the entire selling process can be very beneficial. Make sure that you are prepared to receive criticism from buyers, taking care not get offended by their honesty and make sure to rectify an issues that you can on the spot or enlist someone you know to help with minor touch-ups and fine tuning. With proper though beforehand, FSBO can be a smooth process.
If all else fails, please give FocalPoint Realty a call (858) 349-3700 or email at efocalpointrealty.com for a FREE, no obligation consultation about the home selling process.