So, you’re looking to sell your house? Congratulations!
Selling your home can be a very exciting process. But, it can also tend to be a little overwhelming. When it comes to how you’re going to sell your house, you generally have two options.
Number one, you can choose to list your home with a realtor. While there are undeniable advantages to doing so, it’s also incredibly expensive. As per the commission agreement, the realtor is entitled to a percentage of the sale.
Number two, you can choose to sell your home without a realtor. Of course, this route can be more challenging and it may take longer to sell your home. However, you can also look forward to saving a significant amount of money.
So, before listing your home for sale with a realtor, why not consider trying to sell it yourself?
If you find yourself wondering “how do I sell my house without a realtor?”, you’ve come to the right place. We’re uncovering ten tips that are designed for those looking to sell their home without a realtor.
1. Get Your Home Ready for It’s Close Up
First and foremost, you’re going to want to begin the process by prepping your home for sale.
If you hired a realtor, they would instruct you to tidy, declutter and depersonalize your entire home. If you’re willing to go the extra mile, it’s also worthwhile to spruce up your home with a fresh coat of paint and enhance your curb appeal.
Remember, the goal is to always have your home in showing-ready condition. Last-minute showings are a reality when selling and it’s important for your home to always look it’s best throughout the process.
2. Hire a Professional Photographer and Videographer
Next, it’s time to hire a photographer and a videographer.
Even if you’re looking to save as much money as possible throughout the process, professional-grade photography is non-negotiable. After all, the photos of your home are what draws buyers in the first place. If your home isn’t showing well in photos, prospective buyers won’t be inspired to further view your home in-person.
The good news?
A photographer will more than likely also offer videography services. In most cases, there will be a bundle available to the seller that offers both photography and videography.
In today’s day and age, virtual tours are becoming increasingly popular in real estate. Not only does this help to showcase your home in a more personal light, but it also opens your home up to the possibility of foreign buyers.
3. Research the Market
This is where the real work begins: It’s time to research the market and find the best comparables for your home.
In short, a comparable home is one that is similar to yours in a number of ways. For example, if your home in detached with three bedrooms and a finished basement, you’re generally going to look for recently sold homes in your neighborhood that match this description.
With this, it’s also important to consider the square footage of the home as well as the lot size. These are both important factors when shopping for your comparables.
4. Set a Fair Asking Price
Once you have a cluster of recent sales, you will price your home according to these sales.
The goal is to arrive at the fair market value of your home. It might be tempting to overprice your home and hope for the best, but this strategy tends to backfire on sellers.
Instead, take the element of personalization out of your home. In this scenario, it’s important to look at the home from an outsider’s perspective. To arrive at the market value, compare your home to the most similar and recently sold homes in your area.
5. Draft Your Listing
It’s officially time to draft your listing!
This might feel intimidating at first but it’s generally a pretty simple process when you break it into three sections.
First, you’re going to want to begin with your basic home data. This includes anything from when the house was built to how many bedrooms and bathrooms. You’re also going to want to include square footage, lot size as well as any upgrades.
Second, it’s time to upload your photos. Choose the photographs that highlight your own in the best light possible -this should include both interior and exterior shots.
Third, you’re going to want to get creative and write up a property description. Since you already covered your basic information with your home data, this section can be more fun and creative. This description should be approximately two hundred words and tell prospective buyers why your home is so special.
6. Advertise in Print
Sure, advertising in print might sound old-fashioned at first.
But, when it comes to selling your own home, you want to ensure that you’re taking every step possible to give it the most exposure. The point is simple: You want to have as many eyes viewing your property as possible.
First and foremost, consider advertising in local newspapers. This is considered to be the most popular form of print media today.
Don’t hesitate to post advertisements on posts and bulletins. You can also try advertising in local shops and watering holes that are in close proximity to your home.
7. Advertise Online
Of course, it’s also incredibly important to incorporate digital marketing into your advertising efforts.
First and foremost, you should be advertising your listing on your various social media platforms. In today’s day and age, this is one of the most effective ways to reach prospective buyers. After all, let’s consider that users spend an average of 2 hours and 22 minutes on social media each day.
Next, you can look to advertise on local real estate or housing websites. Depending on your locale, there should be a number of webpages that will allow you to advertise your home.
8. Host an Open House
The first open house should always fall on the first weekend after listing.
So, if you list your home for sale on a Thursday, your first open house should take place on the following Saturday and Sunday. In general, an open house is typically 2-4 hours and take place in the afternoon.
To prepare, ensure that your home is looking it’s absolute best. You’re also going to need to prepare yourself for questions and inquiries for prospective buyers and their realtors.
Remember, you’re the person primarily responsible for answering these questions. So, it’s vital to well be well-versed in the details of your home!
9. Make Your Home Available for Showings
It might sound simple, but making your home available for showings is one of the most crucial factors in selling your home.
Too often, sellers set strict parameters in which prospective buyers can view the home. For example, a seller might state that the home can be viewed Monday-Friday from 9:00-5:00.
The idea behind this time parameter is to have buyers view the home whilst the sellers are at work. Sure, this does make sense to a certain extent. But, the sellers must also consider that this strategy makes it difficult for buyers to view the home.
Instead, create a realistic and open schedule that works for yourself and for your buyers. In general, accepting showings between 8 am and 8 pm with one hour’s notice is the best strategy.
Last but not least, prepare yourself for negotiation! Remember, you’re going to be negotiating with buying agents that do this for a living.
A buying agent may try to take advantage of the fact that your negotiating power may technically fall short to theirs. While this might be intimidating, it’s important to stand your ground and have confidence in both yourself and your home.
In terms of pricing, be sure to stick to your best comparables and use them to reaffirm your pricing strategy. If you feel that your mind needs refreshing, you can look to brush up on your negotiating skills with online materials.
How do I Sell My House Without a Realtor?
In 2018 alone, over 5.34 million existing homes were sold in the United States.
Of these homes, the majority would have been sold with the help of a realtor. This realtor would prepare the home for sale, list the home on MLS, market the home and negotiate with prospective buyers. When we consider this, it’s no wonder that hiring a realtor is the go-to strategy for selling a home.
But, what if it didn’t have to be this way?
As it turns out, selling your home privately doesn’t have to be so complicated. So, if you’re sitting at home wondering “how do I sell my house without a realtor?”, this is for you. Allow this guide to walk you through the process of selling your home privately with great success.
Sure, there might be a few bumps along the way. But the savings that will result from selling privately are certainly worthwhile!
Unsure of your next move? Click here to learn more about how to sell your house privately.