As of June 2018, the average time on the market for a home from list to sale was sixty-four days, thirteen days less than it was a year before that. With such a healthy market, many people are considering a move for the first time in a while.
Whether you’re moving to a new city or just around the corner, changing properties is going to be a hassle. Selling your home, packing, and finding a new place will all be time-consuming and involved processes, especially if you take on all of those tasks yourself.
But, selling your home yourself can be financially rewarding and exciting if you know what you’re doing. Learn how to sell a home by owner in this helpful post.
1. Declutter, Clean, and Stage Your Home
A home that is overcrowded, dirty, or outdated will sit on the market much longer than a well-decorated house. Take the time to get your house into ship shape before you begin showing it.
You will be able to command a higher purchase price because potential buyers will be able to readily see the value of your home by picturing themselves there.
2. Hire a Professional Photographer
While you may want to try to save money by taking photos yourself, hiring a professional photographer will go a long way towards bringing potential buyers into your home.
Make sure you select one who is familiar with taking photos for real estate. While you a wedding photographer you know may have volunteered to take a few shots for you, they don’t necessarily know the angles they need to get to convey selling points to buyers.
3. Price Your Home Properly
Pricing your home is one of the most difficult parts of listing it yourself. Consider having a couple of local real estate agents come to take a look at the house and give you an estimate of what they would list it for. You don’t have to sign a contract with them to get an estimate, and this can give you a good place to start for setting your price.
You should also look at what the other homes in your area are selling for. Take into consideration comparable square footage and homes that have similar updates and upgrades.
Check out this useful article for home sellers for more help.
4. Know Your Home’s Selling Points
Every home is unique. Some of them are spacious and welcoming, while others are mazes of cozy corners. There is a buyer out there for every property. But in order to find them, you have to recognize what your home’s selling points are and how to convey them to potential buyers.
Consider watching some real estate show on HGTV. They talk a lot about what buyers are looking for and can give you ideas for the kind of terminology to use when marketing your home.
5. List Your Home in the MLS
When you work with a real estate agent, one of the first things they do is put your home into the MLS (Multiple Listings Service). Once your listing shows up in that database, it is visible to all of the real estate agents in your area and is officially “on the market”.
But if you aren’t working with a real estate agent, you have to take a back road to the MLS. Try Googling ‘flat fee listing’. You should come up with results of local companies that will list your property for you for a fee of a few hundred dollars.
6. Market Your Home Online and Around Town
Listing your home in the MLS is just the first step in helping potential buyers find it. You should also list your home on other websites online that help people find properties like Zillow and Craigslist.
Also, you can list your home on social media sites like Facebook to create a buzz.
7. Show Your House Professionally
Typically, real estate agents ask their clients to leave their homes during a showing. They don’t want you to have to hear people discussing their opinion of your house and get upset.
But if you are showing your home yourself, you’re just going to have to put on a thick skin and your best foot forward. Alternatively, you could allow the buyer’s agents to have a combination to a lock box with your key in it. This will allow them to tour your home while you are at work.
8. Negotiate Favorable Terms
When it comes time for negotiations, your real estate agent usually plays middleman to handle the transaction. But in a by owner situation, you will have to step up to the plate.
Try to stay calm throughout the process and don’t take low-ball offers as an insult. Counter every offer and hold your ground. If your home is priced in a fair way, it will sell.
9. Hold an Open House
Holding an open house is a great way to get potential buyers in the door. If someone is driving past your house and see a for sale sign, they will probably be slightly curious, but keep driving.
If you hold an open house, then they will stop and see your property right there on the spot. If you don’t have the time for an open house, at the minimum put a tube of flyers with details about your property on your sign so drive-by lookers can get the information they need.
How to Sell a Home by Owner
Selling a home yourself is all about doing a thorough job of marketing and knowing how to communicate your home’s selling features to an audience.
Make sure you get your home in the MLS, list it on sites like Craigslist, Zillow, and Facebook, and price your home properly if you want it to sell quickly.
More Helpful Articles
Now that you know how to sell a home by owner, you’ll be closing on a deal in no time.
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