Published at Monday, February 11th, 2019 - 12:17:53 PM. House. By .
How To Sell Your House By Yourself: A Short Guide Selling your house is something youll have to do maybe just a few times in your life. And unless you know a local real estate agent who will sell your house for free or a hugely discounted commission... it can be a real pain in the rear and an expensive process for you as well. So... you landed on this page about How to sell your house by yourself because of a few reasons Im guessing... • You have no or very little equity in your house so you cant afford to pay a real estate agents commissions • You have equity but want to try to save money selling the house yourself before you resort to hiring an agent • Youre in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions • You cant wait the months and months it sometimes takes to sell a house in your area, so you want to try to sell it more quickly Whatever one you land in... there are ways to sell your house yourself in your local real estate market. Since 2013, the housing sector has been experiencing a major recovery. Selling your house at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale. This article will provide some guidelines to help you sell your house yourself. How To Sell Your House By Yourself - Lets Dive In Know The Real Estate Market Well The first and most important step is doing a market research on your neighborhood. This step involves visiting various home marketing sites (Zillow, Eppraisal, Redfin, etc), calling a real estate agent or two to see what your home is worth, or reading about the various market pricing techniques. Proper homework on these issues will allow you to come up with a right price for your house and also helps you to avoid making certain selling mistakes. If you dont want to hassle with trying to come up with a home value yourself... contact a local cash home buyer. Theyll be able to give you an honest fair valuation of what your house is worth in its current condition. And most cash homebuyers can make you a fair all-cash offer on your house within 24 hours, to give you that option of selling quickly (most cash homebuyers can close within 14 days). Assess the market This step is almost similar to conducting market research, only that in this case, you are bound to your neighborhood and similar houses. Are there lots of houses for sale in your neighborhood? If so, what is the average that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your house price down. Assess the house As a seller, your house should be in top condition or shape in order to sell at a good price. Identify certain unique characteristics about it and emphasize them during the marketing. For example, a house with garage parking may be more attractive to buyers compared with one with driveway parking. Also, does your house require repairs? Does it need to be repainted inside or out? How is the condition of the roof? Is the landscaping in good shape? Is the house outdated at all? (you know, those popcorn ceilings. All of these things can make the house more attractive or less attractive depending on the buyer... which changes the price theyre willing to pay. After all of this... come up with an asking price for your home that is fair... isnt so high itll take you 12 months to sell the house... but is attractive so you get a frenzy of buyers who are ready to buy it quickly. Use Photos or Videos Buyers are obsessed with media. Taking walk-through videos of the house and using the videos to advertise will enable you to reach a wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is more affordable compared to the video. So take some great pictures. Take a picture of every room in the house that helps show it off. Take a picture of the house from the outside in a few different angles... people want to see the house before they ever show up to see it. So having great pictures of your house online could be the difference between getting the right buyer quickly... and waiting months and months to sell. Get Your House Listed On The Local MLS And Market It You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your house on the local MLS. This gets your house in front of all of the real estate agents quickly (so be prepared to pay those buyers agents a 2-3% buyers broker fee if you plan to have their support in helping you find a buyer. Place ads in the local newspaper, signs on the roads, and hold an open house. All Of This Sound Like A Lot Of Work To Sell Your House Yourself? It can be. And in the end, many homeowners think theyre saving money and time by marketing the house themselves... when in the end it costs them more money to go that route. When you sell your own house here are some things you need to consider... • If youre not a good marketer or arent ready to spend a bunch of time marketing your house right... selling it yourself may not be your best bet • If you dont do a good job preparing the house and the marketing materials... and working with buyers to really build the value of your house in their minds... you may actually sell the house for 3-8% less than you may get for the same house an experienced person marketed the house for you • Too many sellers never think about holding costs or opportunity costs... every month that your house doesnt sell means another mortgage payment, tax payment, insurance, utilities, etc. If your mortgage payment is $1,500/mo... and $1,300 of that is interest... if it takes you 7 months to sell your house... that cost you an extra $9,100 (not to mention taxes and insurance you paid during that time). So, if you were able to sell that house more quickly... would it make sense for you to provide a buyer a discounted price today so you can close quickly and move on? Something to think about. A local cash home buying company can give you a fast offer for a fair price.
Agent Open Houses For A House Flip - Waste Of Time? The most important resource to successfully flip a house is time. That being said, using time wisely is key. This is true for any business, and is of utmost importance in the business of house flipping. So what does this have to do with an agent open house and whether or not it works? More on that in a moment. First, lets find out exactly what house flip tips we are discussing. Agent open houses (sometimes called brokers opens or realtor caravans) are when the listing agent for a particular house invites other agents to come and preview the house. These are typically held during the work week. This is a great way for agents to see what is currently available on the market to sell. But is holding one actually worthwhile? Lets take a closer look. For a buyers agent who has buyers looking in a specific area, attending an agent open house can be beneficial. Not only does the buyers agent see exactly what is being offered for sale in the target area, but they also see the types of finishes and current pricing offered. Once these facts are communicated to their buyers, the buyers can make more informed decisions. Another benefit is the ability for buyers agents to network with the selling agent and the other agents attending. Networking, although an overly used and abused term, can be one of the most rewarding house flipping tips if the agents attending are smart about who they meet. The more agents you network with, the more deals you are likely to encounter. This also, however, is a double edged sword that brings us to the down sides of holding and agent open house. Networking is a downside of agent open houses - wait, didnt we just say that it is a benefit? Yes, its actually both. Many agents have been known to attend open houses just to have something to do in the middle of the week. Or, some will attend just to get a free gift or prize (or lunch!). A few agents interviewed for this article actually tout the idea that none of the agents attending actually ever do deals! Now, this is not a complete truth because I personally know several agents who do deals AND attend agent open houses. They can and do turn up their share of tire kickers. Is anyone actually flipping houses through an agent open house? The answer is yes although it is rare. The reason it is rare is that once a listing is published, then buyers agents will usually know about it before the open house is held. Savvy buyers agents know that if they have a house that comes available, and it perfectly matches the criteria that their buyer is looking for, then they will jump on it immediately. A buyers agent wont wait until the open house is held to then decide if they should then show the perfect house to their buyer. In summary, agent open houses can be beneficial and can assist in discovering how to flip a house fast. Dont confuse this with they will sell your home because that is not usually the case - directly anyway. They can, however, help you grow your house flipping network and can grow attention to your current listings. This really can be a benefit a house flipper and is why holding an agent open house will ultimately help you flip more houses.
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