When it comes time to sell your home one of the ways you can get more money from the transaction is to sell the property yourself. Realtors can command anywhere between 3-6% of the selling price, if your home is priced at $200,000 then you will pay a realtor somewhere between $6,000 – $12,000. That’s a lot of cash you could be putting somewhere else. Before you dismiss the notion of using a realtor you need to know that selling your home on your own isn’t a cake walk. Selling your home without an agent is a lot of extra work, but if you’re determined then here are some tips to get you started.
Setting the Price
Most people overestimate the value of their home but you need to pull your emotions out of the equation and look at the data. You can start by plugging your home into Zillow to get a pricing estimate based on things like your neighborhood and the size of your house. Trulia is another site you can go to to get pricing information on recently sold homes. You can also hire an appraiser to evaluate it for you.
Advertising is far easier now than it used to be and it can all be done from a laptop in your living room. You need to get your home listed on some of the more popular sites home buyers go to. Start with your local Craigslist and from there you want to list on both Trulia and Zillow. There is also FSBO.com and if you’re willing to spend the money you can also list it yourself on MLS.com
Writing the Ad Copy
Realtors do this for a living so they know how to put together a compelling listing, you may want to take some time to compose your listing. You want to get some really flattering pictures of your home and you might want to consider a photographer. You need to include the basic stuff like where, how old, square footage, number of bedrooms and bathrooms and whether you have done major work recently like a new bathroom.
Hurry Up and Wait
This is the hard part, houses don’t sell overnight. That is the case in most markets, so don’t be surprised if your phone isn’t ringing off the hook. If you have gone weeks without any interest then it is time to re-evaluate. There could be two reasons that your home hasn’t sold, you need to fix your marketing or it’s the price. You will have to change at least one of them.
Selling your house yourself is completely doable, but you will have to put in some effort. Take your time and you will get it sold.