Wondering how to sell your home by owner fast? Then you are in the right place!
For sale by owner are sometimes daunting words in the real estate market. But not for you. If you have chosen to sell your home on your own, you need to have a good understanding of how the property transfer process works. This way, you can get the best value for your home and also keep your sanity.
It doesn't have to be as hard as people say that it is.
Here's How To Sell Your Home by Owner Fast!
Be sure to follow these steps for a successful, stress-free sale:
Understand What An Agent Does
Before you know how to sell your home by owner fast, you have to know what you are giving up by not working with a real estate agent.
Here are the main things an agent will do for you:
- List your home in the Multiple Listing Service (often called an MLS).
- Market your home online and in person.
- Oversee showing your home and any open houses as well.
- Work as the main negotiator once there are offers on your home.
- Walk you through the closing process.
In addition to these practical steps, real estate agents can also offer advice and perspective from their many years working in the industry. So, if you decide to sell without using one, you will need to step into their shoes.
Price Your Home Competitively and Realistically
The first thing you will need to do before listing your home is to price it fairly. You can do this by working with home assessors to determine the fair market value of your home.
If you would like to price your home on your own as well, you must consider the condition of your property and what homes similar to yours are currently selling for in your immediate vicinity. You can discover these sales prices via public records and online tools.
When selling your home on your own, it is important to take emotion completely out of the equation. You will need to determine your listing price based solely on the current market trends and not on your personal investment in your home.
Enter Your Home in an MLS
An MLS (Multiple Listing System) is one of the most valuable assets when learning how to sell your home by owner fast!
An MLS is a tool used by agents all over the country to view listings and generate interest in certain properties, so it is in your best interest to list your home in one as well. You can typically pay a flat fee for a particular service to host your listing for a set amount of time. To find one, just search “Flat Fee MLS (your area).”
Market Your Home
Getting the word out about your home might be more difficult without the network of a professional Realtor, but it does not mean that it is impossible. You need to take high-quality, well-lit photos of your home and use those photos everywhere. You will need to create Facebook posts, Craigslist ads, flyers, yard signs, etc.
The more places you advertise, the better! There will be costs associated with selling your home on your own – but depending on the listing price, they will typically be less than an agent's commission. However, the time and energy you will have to invest is considerable.
Hold an Open House and Show Your Home
Once you have made any minor cosmetic repairs and staged your home for a sale, you will need to set up an open house and start showing your home.
This part can be the trickiest when selling your home on your own, simply because it can be difficult to sell your home as a product when you have lived there and invested so much time and emotion into it.
The best thing to keep in mind to make a successful sale is to keep all conversations about the home to its features and not to your time there. Potential buyers do not want to be reminded that you lived in this home; they want to be able to see themselves living there in the future.
Negotiate the Best Deal
Once the offers begin to roll in, it is time to negotiate the terms of the sale. Because a home's contract of sale is a binding legal document, it is always a good idea to have a lawyer or a Realtor take a look over it before it is officially signed – just to be sure that everything is in order. Services like this are typically available for one flat fee.
Follow All Laws
This is another reason that it is a good idea to have a lawyer give all of your paperwork a once-over before you officially sell your home. Laws vary from state to state, but there are Federal laws to keep in mind, like The Fair Housing Act, which ensures that sellers cannot discriminate against buyers for reasons including race, religion, or gender.
What If It's Still Not Working?
If you still find that you are struggling to sell your home on your own, it's time to bring in the professionals.
But don't worry! Calling in reinforcements doesn't have to break the bank.
While the current national average for Realtors is about 6% commission of the total sales price, there are agencies that will only charge you a flat fee for the same professional services.
One of those agencies is Clever. For a flat fee of $3,000, you can list your home with Clever and receive support from a fully qualified real estate agent. If your home sells for more than $350,000, a 1% fee is charged – still 5% less than the national average.
Ready to take the work out of selling your home and list with Clever?