The work of a real estate agent can be very expensive, and by hiring them you can lose several thousand dollars on commission. For most people this is the only option, since they are afraid of selling their home by themselves. This does require more effort and plenty of knowledge, but the bottom line is that it can save you from huge agency costs and that’s why it’s definitely worth trying. Here, we have provided you with a step-by-step guide for selling your home.
Step 1: Get Your Home Ready
Before you start posting ads and answering questions from potential buyers, you need to bring your house into good shape.
You need to fix everything that can be fixed in a reasonable amount of time. This means: plumbing, electrical work, appliances, gardening etc.
- Paint the walls.
- Clean the entire house, especially the rarely-cleaned areas like: blinds, window wells, roof gutters etc. If needed, you can always hire professional cleaners.
- Repair any damage to the outside of your house with the help of RSG Roofing LLC to quickly increase your curb appeal.
- Remove unnecessary junk from your premises. Leave only the things that can be helpful to the new owners. If you turn sentimental during this process, take out all the things that are important to you and move them to your friend’s garage or a rented storage space.
After you are done with the first step, you will be amazed how spacey, clean and light your home looks.
Step 2: Determining the Price
In step 2 you need to determine a realistic price for your home. This can be done in a few different ways, but it is important that you don’t fully rely on the tax assessment or the price that you think is fair. Tax assessments often don’t take into account real estate market trends, and they are often out of date. Find the prices of other recently sold homes in your neighborhood, or ones that are selling at the moment. If you want to find the real price, without too much hassle, you can always hire an appraiser who is much cheaper and more realistic than real estate agents.
If you are determined to make a fair deal with you buyers, you can also have your home inspected. Just be advised that a general inspection might come with lots of additional costs, because you will be obliged to make certain updates and repairs.
Step 3: Marketing
Before you write the first ad, write a list of all the advantages your home has. These would be its main selling points and can include: good district, good insulation, energy-saving doors and windows, latest tech appliances etc.
All these items should be highlighted in the ad or during the negotiations. The ad itself needs to be both creative and concise and to emphasize all the good sides your house or flat has. When selling your home by yourself, you also need to be very careful about timing. Since people don’t like moving during the winter, place your ad in the spring, which leaves you with plenty of time until the late fall to market your offer to potential buyers. Good ads always contain photographs and they need to be real master-pieces.
When it comes to advertising, you should use both digital and guerilla techniques. Some of the most common places to leave home ads are:
Craigslist and other similar websites
- Social media pages
- Local newspaper, both printed and digital
- Giving out fliers on busy intersections
- Posting ads on trees, lampposts, bulletin boards
- Renting billboards or other advertising places
Step 4: Meeting the Buyers and Negotiations
Soon you will get the first calls. One of the most important parts of the selling process is showing your house to potential buyers. Welcoming them in your home and letting them imagine how it would look after they buy and rearrange it, makes you much closer to the final deal, especially if your house looks good. You should always welcome more potential buyers at once. That way they will feel more competitive. This step requires some additional cleaning and rearranging. Always think about your target audience and rearrange things in your home, so they will like it. Be a good host, offer them coffee or tea, or even a drink if you are hosting a bachelor crowd. When talking to potential buyers, you should be honest, but keep the atmosphere positive.
When it comes to negotiations, it is very important to set your rules and boundaries. Lower bids can be accepted, but only if you are in a hurry and there weren’t any higher ones. Sometimes it’s very helpful to offer a small favor to the buyer. If he/she wants to rearrange the house completely, offer to rearrange part of it by yourself. Some other kind gestures that will definitely sweeten them up are:
Offering to pay closing costs
- Assuring them you will move out your things as fast as possible
- Giving them transferable home warranty
Step 5: Closing the Deal
When negotiations come to an end, try to close the transaction as quickly as possible. If you feel suspicious about the buyer’s offer, take it to a lawyer or a professional evaluator together with all the disclosure documents. Closing the deal must be transparent for both sides. That’s why it is very helpful to hire agencies which will help you close escrow, which makes sure payments will run smooth. The same goes for conveyancing. Provide all the help your buyers need to