With the current volatile real estate prices, many people are opting to ‘sell by owner’ a way to sell their houses. Getting a real estate agent to help sell your house can be really helpful, but still with a few marketing tips you can actually sell your house by yourself and get to pocket that extra 5% -6% that realtors charge for selling the house on your behalf. Here are fourteen ways to sell a house by owner.
1. Give it a great look – The first step in selling your house is to make it look great. Potential buyers get attracted to a neat and spacious house. Remove all the clutter, clear the garden bushes, scrub floors and walls and ensure the house smells nice. You need the buyer to like it from the word go.
2. Price the house right – Take some time to know the value of houses in your neighborhood. Check the ones that have been sold or bought recently. Make sure to not over price or under price your house. You can place your quotation at 5% more than the market value, so that you bargain within the right price. Be tricky with setting the price; for instance, you can quote a figure just below a whole number e.g. $159,900 instead of $160,000.
3. Be aware of your house’s strength and weaknesses – Get some professional home inspection done to identify some problems that need attention for fixing. You can decide to fix them or just incorporate them in your price quotation you don’t want to get surprised the last minute!
4. Strategize on the process – With a great look and price of your home, be very strategic to have it exposed to potential buyers. Know how easily to get the attention of your potential buyers and draft appropriate marketing strategies for them.
5. Utilize the Multiple Listing Services(MLS) – For a Flat fee of a few hundred dollars, you can list your house for sale on multiple listing services online. This will expose your house to many potential buyers and even realtors.
6. Serious marketing – Besides listing your property on MLS, you need to do some serious and sustained marketing. Consider printing brochures, display ‘for sale’ signs. You can also put ads on social media or build a marketing website for your house. Be sure to use pictures of your house.
7. Open House advertising – You can invite guests and potential buyers to your house for an open house advertisement. Post signs in your neighborhood and have some refreshments for the visitors. Remember to prepare flyers about your house that they can go with.
8. Consider hiring a real estate attorney – As your come closer to having your house bought, a real estate attorney is crucial. Some companies will require you to disclose some vital information during the transaction. It is the task of the attorney to advise you on this. The attorney is also important when closing the transaction.
9. Learn to negotiate – When selling a house by owner, be ready to get an offer and give counteroffer. You should be able to understand the transaction contracts as you negotiate the sale of your house. A hired attorney can assist on this. Always ensure your price negations are based on researched information.
10. Screen the buyer – It is very important that you get the potential buyer prequalified for the transaction. In this era of banking institutions tightening their restrictions on lending, you should demand a pre-approved mortgage letter from the buyer.
11. Be informed of any outstanding claims – It is vital that you have clear information about any claims to your house. It is also important that your utility providers also get informed of a possible ownership transfer and let them know immediately you sell the house.
12. Be ready to show your house – With strong marketing, be sure to receive calls from potential buyers. You have to be flexible enough to show the buyer your house anytime they are ready to view. This is normally done by the realtor but in their absence you will have to. Be keen on who comes to view.
13. Be flexible – Be ready to let in the buyer anytime he wants to buy the house right away. If you have a period of 30 days before you move out and your buyer wants to get in within 10 days, you have to be ready for this. You can move into an apartment or at a friend’s.
14. Closing the sale – Be informed with the closing deal paperwork. The buyer may have a written preapproval, just wind up the process. Always remember to stick to the legal guidelines throughout the process.
Selling a house by owner may not be for everyone, however, consider the extra dollar you will get when you put an extra effort and patience into this. It may be quite demanding, but it’s always worth it.
1. Research – Repairing and refurbishing a home to make it marketable takes a lot of your valuable time and money. There are many factors to look at before jumping into it, such as: selling yourself or going through an agent, fix it up or selling “as is,” the state of the housing market, to buy or sell first? Luckily, we have all these questions answered for you!
2. It’s A Business – Selling a house is essentially a business. You need to determine how to make a profit, the right price, meet deadlines, market the property, and handle all of all of the paperwork!
3. Do You Have the Time? – We live in a society where we’re constantly doing something. Both spouses in a typical American family work full-time jobs, on top of being a parent! Who has the time to repair and sell a house, when you can spend that time with your family!
4. Being On-Call – Buyer’s today aren’t running on the seller’s schedule. Everyone has their own obligations and responsibilities, so you need to meet with them when it’s convenient for them. Otherwise, they will take their money somewhere else!
5. Sell First – Sellers are looking to leave their headaches and to somebody else. You want to make sure you sell your existing home before taking on another. Otherwise you run into the cost of two mortgages, yikes!
6. Stress – Selling a house requires a lot of work and dedication. Working with an agent to handle all the hard tasks alleviates stress, and all you need to worry about is collecting your return!
7. Historical Homes – America is rich in history, and many historical homes still exist today. If you live in one, make sure to read up on the rules and restrictions to stay compliant!
8. Endless Repairs – Being a seasoned homeowner, you know once you fix one thing, something else breaks! The list of things needing repair is endless and expensive!
9. How To Sell It Quickly – Individuals who sell their homes independently are typically on the market longer than sellers working with an experienced agent. They’re experts in the field and will sell your property quicker!
10. Who’s Buying? – Do you know what your buyer is specifically looking for? When selling an “as is” property, the buyer is reading, “you get what you get.” The expectation of a perfect home is low, and this gives the opportunity for the buyers to fix it to their specific needs.
11. Housing Market – It is better to sell a house in need when the market is up. When the market is up you can price it higher. When the market is down you are competing with numerous other sellers who are in the same situation. This means you are not going to get the best price.
12. Profit? – The future of the real estate market is uncertain, so it’s better to sell now while it’s still up, instead of investing your precious time and money into a property that may not make you a pretty profit.
13. Millennials – Millennials are buying homes. As most of them watched the market crash in 2007, many are anxious to purchase a home before history repeats itself. They are interested in the hip, expensive areas. Selling a fixer-upper to a young, creative buyer for the right price could get your house off the market in no time!
14. Marketing – Once the house is on the market, it is crucial to keep the home spotless with minimal clutter. The more appealing it is to the senses, the quicker it gets sold!
15. The Pricing Game – Do you have the skills and experience in the industry to negotiate the best price? Most independent sellers do not, so leave it to an expert to guide you through the pricing process and make it worth your while!
16. Low-Ball Offers – These homes immediately attract certain buyers, such as investors, low-income buyers, and house flippers. Be prepared for these offers and have an idea of how you’re going to handle them.
17. Know the Competition – Analyzing the competition and picking out the features and benefits of your property can be time-consuming, let an expert do that for you and make your property shine!
18. Disclosures – It is required by law to disclose all known issues with the property, but don’t be afraid! Professionals in the field can assist with this so you can rest assured in your new home that everything is fine!
No worries… we have created a truly no-nonsense way for you to get your house sold quickly and still get a great price for it.
When you sell to Bustle Seattle you will get all of the following benefits:
Need to sell you house fast? No problem. We can buy your house quickly and get it closed in as little as just 10 days. And if 10 days is too quick, we will let you pick whatever closing date you want so long as you give our title company at least 1 week’s notice to prepare all the legal mumbo jumbo paperwork.
Since we have bought so many homes in the greater Seattle area, we will be able to quickly size up your home within 20 minutes flat of seeing inside it and even give you an offer right there on the spot.
Home not in Seattle? No worries, we actually buy all throughout the USA too, so still feel free to contact us and we will patch you through to our local home buying office for that area.
Contact us today to get a quote on your home today. Discover the hassle-free Bustle Seattle way today.
Not ready to sell you house yet? Well, then check out what our mentor and friend Barbara Corcoran says about how to sell your house even faster than normal.