There are several different circumstances that can make selling your house with a real estate agent challenging at best or impossible at worst.
For instance, what if you do not have much equity in your home? That indicates you are probably going to pay your agent’s commission out of your pocket. The average commission is around 10%, which means that you would be on the hook for 20,000 USD if you are selling your house for 200,000 USD. That is a very tough pill to swallow for many, specially since that figure does not even include the standard closing costs that a seller is anticipated to pay. That could easily add up to another 3 to 6% of your property’s selling price.
The good news her is that there is no law that states you have to sell your house with the help of an agent only. So, for all those who are in a good situation that make it tough to enlist the assistance of a Realtor or for those who simply want to save the high price of commission, consider this job as ‘do it yourself’ when it comes to home selling.
Below are some vital tips on how to sell your house without estate agent for a reasonable price:
Price Your House Right
Perhaps the most imperative factor of selling your house is pricing it right. In order to price your property competitively, but fairly you will require to do some research. There are some portals that will allow you to view other property for sale. Look for homes that are similar to yours and use a price that falls somewhere in the middle of what they are asking for. For a second opinion, you can check other websites and see their estimates of your property’s value.
Make Your House Look Good
Price will help you get potential buyers, but how it actually looks determines whether or not they will proceed with the purchase or not. Curb appeal is the first aspect that needs to be addressed. As a buyer sees your house online or visits personally, how the front of your house makes them feel can actually make or break your sale. Ensure your lawn is well maintained, shrubs trimmed, and the entrance swept. The next step should be to thoroughly clean the interior of the house and remove all clutter. Lastly be certain to make all the necessary repairs including holes in walls, carpet, paint, and appliances.
It does not really matter how well your property is priced and how great it looks if no one knows about it. The first place most people start their search for a new home is the Internet. So, you have to make sure that your house is prominently features where the buyers are actually looking. When advertising it online, an image is truly worth a thousand words. Therefore, be certain to take a few high quality pictures that show your home in the best possible light. Consider listing your house on real estate sites. You can also list your house with some local agencies for a small flat fee without charging you with commission when the property is sold.
Although you are doing it all ‘yourself’, it makes sense to get some experts involved at some stages in the process. Experts are not going to add in any additional costs to your transaction. The prime expert is the mortgage broker. They will pre-screen and then qualify your buyers for free. The next one is the real estate attorney. They will gladly handle all of the documentation and the closing. Look for these experts early in the process, as they are going to make your life a lot easier.
These aforementioned steps will help you successful navigate your way through the process of property selling while saving a fortune in fees and commissions so that you can move on with the rest of your life with ease.