Selling your home can be surprisingly time-consuming and emotionally challenging if you have not done it before. With people coming in and poking around your closets and cabinets, complaining about the design and build of your home, and offering you less money than you believe your home deserves, ‘for sale by owner’ can become an emotional roller coaster in no time.
But that doesn’t mean that the process is not effective and has more advantages than hiring a real estate agent. Real estate agents require you to pay them for their service which means that you might make less money on selling your home through a realtor. Moreover, people who opt for selling their home themselves don’t pay the fees of the listing agent saving them a ton of money.
Here are a few advantages of opting for sale by owner:
– Pricing control
Selling your house on your own will ensure that you sell your home on your terms and that includes the price point. A real estate agent may not agree with the price that you believe is best for your home. Moreover, you can reduce the spending on marketing your house if you opt for sale by owner. Being in direct communication with potential buyers will help you negotiate a fair price for your property.
– Eliminating commissions
An average real estate agent asks for 5-7% as commission. This can cost you a ton of money while selling your home. Selling your home on your own will ensure that you save a significant amount of money while making the transaction.
– Knowledge of your home
No one knows your home better than you. A real estate agent will not be able to give buyers explicit details of your home because they have not lived there. As a homeowner, you have an emotional connection with your home so you know exactly what to say to the potential buyers to make them interested in buying your property.
With all that in mind, if you do decide to sell the house without an agent, here are a few tips to help you get started.
- Set a realistic price
If you are selling your home on your own, don’t make the mistake of thinking that your home is worth more than it really is. Setting a realistic price point when you opt for sale by owner is the most important thing. To make sure that the price point that you’ve set for your home is fair, you should study the market trends and prices of the properties around you in your neighborhood.
Unfortunately, sticking a ‘for sale’ sign in your yard and hoping for the best is not enough anymore but you can do that including a few other things. Most homebuyers search for properties online nowadays so advertising your home online is really important. Use your social media presence to your advantage and put up an advertisement on various Facebook and Instagram pages. You can also spend a few bucks on running paid ads as well. You can also list your property on various listing websites such as realestate.com.au, domain.com.au, realestateview.com.au, homesale.com.au and many more through minustheagent.com.au. In addition to this, you can also create a few flyers and brochures and distribute them around the town.
- Prepare the home
After you have listed your home on various websites, be prepared for potential buyers to show up. But before that, you need to make sure that your house is sale-ready. Get tips online on home improvements, make the necessary repairs, light the house properly, de-clutter every room, touch-up or repaint the rooms if necessary so that when the potential buyers come to visit your open-house, they can make a proper decision.
- Hire a lawyer
Even though it’s an additional expense, hiring a lawyer who can assist you with the legal work can do wonders for you. Unless you are significantly experienced in selling a house, having a real estate lawyer by your side will provide you the peace of mind that you will need during the process. The lawyer will not only help you reviewing the contracts, evaluating complex mortgages or leases and complex offers, but will also tell you what things, by law, you need to disclose to potential buyers and help you formulate a disclosure agreement.
- Be patient
Don’t be disappointed if your home doesn’t receive any offers right away. In case you don’t receive any offers for a long period of time, consider revisiting your asking price, updating your marketing material, and making sure your home is widely listed.
In conclusion, as long as you are well informed and ready to sell your house you can list it, even go ahead, and market it and you will be sure to get potential buyers of your home. Selling your home by yourself can be time-consuming and nerve-wracking but only if you are not a patient person. As long as you are well informed and ready to sell your house you can list it, even go ahead, and market it and you will be sure to get potential buyers of your home. Moreover, the financial rewards can be tremendous.
Jodie Kelly is hard-working and efficient, and an indispensable asset to Minus The Agent and has been working with the company for a long time. Minus The Agent helps home sellers list their properties on realestate.com.au, domain.com.au, realestateview.com.au, homesale.com.au, etc. and also provide on-going assistance to make the sale or leasing a stress-free process when you opt for sale by owner. Get the right valuation and listings without paying the commission fee and save your money with Minus The Agent. Grab your online toolbox from Minus The Agent and start selling or renting your commercial or commercial property without putting a hole in your pocket visit minustheagent.com.au for more information.