Selling your home without a real estate agent can be an overwhelming process but with – a few tips, a little planning, and a lot of work – you can do it too. You will be doing a lot of things that real estate agents normally do but with a little preparation, you’ll be able to nail it better than an estate agent. When you sell your house without an agent, it’s natural to want to get the highest return on your transaction. This is why some homeowners prefer ‘for sale by owner’ as the perfect choice.
‘For sale by owner’ can save you a huge fee when you eliminate the typical 7 perfect commission fee for the real estate agents. Homeowners, who are worried about selling their house without an agent, remember that it is a learning process.
With all this in mind, if you do decide to sell your house without an agent, here are five tips to help you get started:
It’s important to educate and train yourself in the art of home selling. Research about how transactions work. Learn about different real estate laws that may pertain to your property’s sale. Familiarize yourself with the real estate terms and vocabulary that you may need in the forthcoming days. Research about the various steps involved in closing a deal. Learn about the legal formalities that you may need to do along the way.
Price your home right
If you are one of those people who don’t know the actual value of their own house, don’t worry, you are not alone. A home’s fair market value defines what you could expect to receive if you were to sell your home on that day. This value can differ while you are asking different estate agents and realtors. Most of the homeowners are absolutely clueless about their home’s true worth. Use the online home valuation tools and perform a market analysis. In addition to this, you can also hire an appraiser who can help you calculate the value of your home in terms of square footage.
Get the word out
Getting the word out about the sale of your property is the way to go when you sell your house without an agent and unfortunately, sticking a ‘for sale’ sign in your yard and hoping for the best is not enough anymore. Use your social media presence to your advantage and put up an advertisement on various Facebook and Instagram pages. Most homebuyers search for properties online nowadays so advertising your home online is really important. You can also list your property on various listing websites such as realestate.com.au, domain.com.au, realestateview.com.au, homesale.com.au and many more through minustheagent.com.au. In addition to this, you can also create a few flyers and brochures and distribute them around the town.
Hire a lawyer
Even though it’s an additional expense, hiring a lawyer who can assist you with the legal work can do wonders for you. Unless you are significantly experienced in selling a house, having a real estate lawyer by your side will provide you the peace of mind that you will need during the process. The lawyer will not only help you reviewing the contracts, evaluating complex mortgages or leases and complex offers, but will also tell you what things, by law, you need to disclose to potential buyers and help you formulate a disclosure agreement.
In order to sell your house and make a hefty amount of money, you need to be objective. Yes, it’s your home and you have your memories in that house, but at the end of the day, it’s a financial asset. So negotiate the pricing of the deal as much as you can but don’t push it too far that you scare the buyer off. Also, there are other things you can negotiate beyond price. This includes appliances, closing date, and closing costs.