It might sound intimidating to go through the process of selling your home without an agent, but the reality is that it can save you lots of money in the long run. The percentage saved most times is around at least 6% because you don’t have to pay typical real estate commissions by selling a home on your own.
What do I Need to Know in Order to Sell a House Without the Assistance of a Real Estate Agent?
There are a lot of minor steps needed when getting ready to sell your home, but there are at least five significant steps you need to take –
Step 1: Determine a Fair Market Value for your Home
Selecting the value of your home can be difficult; if priced too low, you won’t be getting full value for your home, but if too high, the house could sit on the market for months. There are three main ways to get a proper estimate on your home. Those options are either…
- Use an Online Real Estate Valuation Site
- Get a Competitive Market Analysis from a Real Estate Agent
- Hire a Licenced Appraisal
To get the most accurate evaluation you will likely end up paying a fee for their services regardless of which option you choose above. Do your research before hiring an appraiser or using an online evaluation tool to make sure you get the most accurate estimate for your home.
Step 2: Prepare the Home for Sale
Put yourself in the eyes of the buyer and walk through your home. Ask yourself the question, “what about this house don’t I like?”. It might sound negative to do so, but if these buyers are about to spend hundreds of thousands of dollars on a home, they want it as close to perfect as possible.
Appearance is everything when purchasing a home; curb appeal is the first thing that sticks out to buyers. If you can’t set aside your personal biases about your home, it’s advised to have an outside point of view come in.
Here are some home improvements you might want to make when preparing your home.
- Minor repairs are necessary. From the leaky faucet to the squeaky door, to a properly functioning garage door.
- Touch up any paint that looks faded in the home. Stick to neutral colors because that’s what buyers like.
- Organize your home. If there is clutter, the house becomes less appealing to the buyer.
- Remove family photos from around the home and on your fridge. It is harder for homebuyers to picture themselves in your home with photos of you hanging everywhere.
- Make sure your home is clean and smells fresh.
Step 3: Market the Home for Sale
Have a good yard sign
- Make sure there is a good looking, professional, sign in your front yard to grab the attention of anybody driving by. These can be bought at office supply stores, and in this case, it’s worth spending the extra money for higher quality.
Create sales flyers and brochures
- It would be best to have as many of these flyers or brochures on hand as possible for anybody who drives by or comes inside. You can make these on any formatting software, and graphics are encouraged. There should be pictures of the front of the home and inside – the more professional these look the better!
- The flyer should contain the address, contact information, and property specifics. This includes sale price, room count, and local school district.
- Nowadays everything is online, so it’s important to advertise there also. Use Zillow or other marketing platforms for real estate.
Host an Open House
- You have to deal with the customer face-to-face by not using a real estate agent, so this is a great way to meet people. This is best done on a Saturday or Sunday since most people are off work then.
- Really take it to the next by having refreshments and flyers on hand for anyone interested. (Nothing is homier than walking into a home with the smell of fresh baked cookies).
Step 4: Negotiate the Sale
It’s almost certain that the buyer will come in with a lower price than listed. This process is very much a give and take, which must be understood on both sides. It’s important to know how low you’re willing to go when going into this part of the process.
The initial negotiations will probably be verbal, but the buyer will have to submit a written offer once you agree on the basics. You may want to have a small supply of real estate contracts specific to your state for that purpose. You can find these by doing a web search or hiring the appropriate attorney to help you with the legalities.
The contract must spell out every detail of the sale, including the purchase price, closing concessions, items that will be included in the sale, the closing date, and the location of the closing.
There will also have to be contingencies written in the contract. For example, the buyer may insist on having a home inspection. And it would be best if you insisted on getting a copy of the buyer’s mortgage approval within several days of accepting the offer.
Step 5: Handle the Closing
The closing of the house is an entirely legal affair. That means there is a specific process, and it will be handled either by the closing attorney or the title agent. Once you decide who this party will be, they will provide you with the required procedures and bill.
Selling Your Home the Easy Way – Sell Your Home for Cash
Selling a home without an agent can be very confusing, requiring a lot of time, energy, and money from you, but it can save you thousands when done correctly.
However, this isn’t the only way. If you want to sell your house fast and avoid the hassles of putting your home on the market, investing in the required updates for sale, and avoiding the time-consuming process you want to work with a “buy my house for cash” company. You want to work with House Guys USA. We are a quick and easy alternative to selling your home on your own or through the traditional real estate market. We buy homes for cash and in as little as 7 days we can give you a cash offer on your home – bypassing all the work, time, and fees associated with selling your property. Contact us today for a free quote to help make your selling process as easy as possible.