Getting the realtor out of the picture when selling your house can be appealing as it means you can save as much as 6 percent in commissions. That’s $15,000 for a $250,000 house. You also have the chance to sell house fast since it has been found that houses for sale by owners tend to sell faster, even as little as 2 weeks (usually when the seller and buyer know each other).
But despite all these advantages you still have to consider that selling a house without an agent is not a walk in the park. You have to be prepared to devote time and effort doing the work a realtor would typically handle, meaning from showing to marketing to negotiating for the final price of your home.
You also need to work on all the legal and financial paperwork, and you are better off hiring a lawyer to assist you with that. If after knowing all these you are still set on selling a house without a realtor, here are a few tips to help you begin:
Set A Realistic Price
It’s very important not to set a price that is worth more than the value of your home. There are tools that can help you get an estimate of the value of your house. You can find pricing calculators online. They will provide an estimate of your house value based on objective factors like the number of bedrooms and bathrooms, square footage, and the location of your home.
Another thing you can do is to check on comparable homes in your area and find out how much they are sold for. You can obtain information from websites like Tulia and from local property tax records (check with your county clerk or state assessor’s office).
You can also visit the website of the Federal Housing Finance Agency. It has tools that draw from home sale data coming from mortgages (Fannie Mae, Freddie Mac, and Federal Housing Administration).
Another helpful way is to simply hire an appraiser who can give you an estimate. But make this your last option because it comes at a four hundred dollar-price tag.
Today most buyers looking for homes go online to search potential properties. If you’re selling your home, you can list it on several websites, but expect to pay a fee of course. There are websites though that allow you to do so for free.
Provide A Detailed And Accurate Description Of Your Property
When listing your property, include photos of the interior and the exterior. Make sure photos are clear and attractive. It might be worth hiring a professional photographer.
You must include all the basics in your listing: location, price, age of the house, number of rooms, bedrooms, and bathrooms. It is also recommended for you to highlight any upgrades or any features that would make your property more attractive, for instance, a water heater.
Know That Selling A House Takes Time
It is important to be patient when selling a house. You should not be disappointed if you don’t get any offers in your first open house. If this happens, reevaluate your asking price, update your marketing materials, and get your home listed to as many places as possible.
Alternative Way To Selling A House
If you do not have time to or do not want to go through all the effort that is involved in selling a house on your own, consider selling a house to a cash home buyer. There are many legitimate ‘we buy houses’ companies like the Cincinnati Property Twins that can buy your house for cash. On top of that, you can close in two weeks.