If you want to save money on real estate commissions, selling your home without the help of a Realtor might be a choice. The average real estate fee is 5% to 6% of the selling price, divided between the two brokers, and paid by the seller.
Selling a home without a Realtor is close to selling a home with a Realtor, except that you won't have a full-service specialist counseling you from beginning to end. Here are the general steps you'll need to take if you want to sell your home yourself:
Prepare the house for a viewing
Prepare to show off your house to its full potential. If your walls are looking dingy, repaint them. Depersonalize the home as much as possible so that potential buyers can see themselves living there. You can do the deep cleaning yourself or employ someone to do it for you.
To refresh the flooring, get the wood floors cleaned or employ a carpet cleaner. Repair any slight cosmetic flaws that might be an eyesore. Consider power-washing your siding to freshen it up and make it more welcoming.
Investigate the Market and Decide on a Price
It's now time to do an objective study of your local housing market and determine the asking price for your house. Examine recent sales of similar homes in your area to get an idea of how much you can ask for your house. Look for homes with comparable finished square feet, bedroom and bathroom counts, and lot sizes that have recently sold.
Set a list price that represents your goals and time period, based on the findings of your market research. If you need to get out of the house as soon as possible, such as because of a work transfer, set the price to sell your home online quickly. Set a higher list price if you can afford to wait for the right buyer. A lower list price can cause a bidding war, resulting in your home selling for much more than it should in a hot sellers' market where homes routinely sell above the asking price.
It is critical that you quote the correct price to pique the interest of potential buyers in purchasing your house. Don't let your emotions get in the way of your business; just because you adore your home doesn't mean you can afford to overpay for it. Similarly, if you believe your property is too old, you do not have to accept a lower price than its true worth. For older homes, you can raise the price by performing minor repairs such as fresh painting, repairing leaks, and repairing the roof. The location of the house, as well as the infrastructure facilities available in the area, are important factors in deciding the price; a good location with a quiet environment also attracts buyers' interest.
Collect data and create a draught of your listing
Next, gather the data you'll need to build your listing, which includes:
- Information about your home to sell your home now
This includes quantitative data such as the year of construction, finished interior square feet, lot size, and the number of bedrooms and bathrooms, as well as qualitative data such as heating and cooling design and parking arrangements.
The photographs of your home can make or break your listing. If you don't want to spend hundreds of dollars on a professional photography kit, try to mimic it as closely as possible. You'll need several images of the exterior and outbuildings, as well as one of each room and hallway in the house.
- Describe the situation
Your explanation should combine accurate details not included in the regular listing data with attention-getting sales copy. Sit down with your objective friend and brainstorm your home's selling points; your aim here, as in the planning process, is to see your home through the eyes of potential buyers.
Don't hire a professional to write your home description because it isn't poetry and shouldn't go on for more than a few hundred words. However, make sure that your words allow buyers to envision themselves in the house. If you're lost, look at the descriptions of similar listings.