Monday, November 18, 2019 / by Klyne Sasan
If you've tried to sell your home yourself, you know that the minute you put the "For Sale by Owner" sign up, the phone will start to ring off the hook. Unfortunately, most calls aren't from prospective buyers, but rather from every real estate agent in town who will start to hound you for your listing.
Do your research and find a few websites that allow you to post your home for sale online. Websites like this typically charge a flat rate, plus the cost of additional services.
Get a pulse on your local real estate market. How much are homes selling for in your area? How do these homes compare to yours?
Real estate agents run a comparative market analysis (also known as comps) when determining a home’s list price. When in doubt, start with a lower asking price. Overpricing by $10,000 can cause it to sit on the market and ultimately force you to sell for less than if you had priced it right initially.
Prepare your home for market. Deep clean every surface inside and out. Replace broken tiles, fix leaky faucets, and clean the gutters.
Hire a professional to take your listing photos. A Redfin study found homes with professional photos sold for $3,400–$11,200 more than homes without professional photos.
List your home with an MLS service. Pay additional fees for the yard sign, more than one listing photo, open house signs, and listing flyers. Without these basic necessities, you’ll have a hard time getting people to look at your listing — let alone make an offer. If you list with Redfin, you’ll get all the essentials to sell your home, plus exclusive services you can’t get anywhere else — like premium placement on the web and emails sent to thousands of buyers searching for homes like yours.
Get ready to answer questions and show your home to potential buyers at a moment’s notice. Consider taking time off work so you don’t miss the opportunity to make a sale.
Real estate agents take care of all of the contracts, paperwork, and fine print of a home sale transaction. Without the assistance of an agent, you should find a real estate attorney to mind the details of your home sale. Your attorney will work up a purchase and sale agreement, help negotiate the terms of the contract, and review related paperwork and loan agreements.
Skilled listing agents find highly qualified buyers to sell your home for the most money. Selling your home without an agent means you’ll need to do the extra work to find the right buyer. If your home is priced right, an offer will typically come through in 30–45 days.
Safeguard yourself from costly consequences and ask your attorney to review your purchase and sale agreement with a fine-tooth comb. Then hire a title company to take care of the closing process. If any liens come up in your title report, work with your title agent or attorney to resolve them and successfully close the sale.
Watch this video on YouTube.