Should I Sell My House Myself?

Should I sell my house without a Realtor?

This is a question that thousands of home owners ask themselves every year. Selling your home can be a long and complex process. Before you make a decision, consider how you will deal with the following 4 major components to selling a house: pricing, marketing, showings, and drawing up the contract.

Pricing Your Home

Your first responsibility as a seller is to assign your home a realistic and accurate value, meaning the price you choose does not exceed what a ready and able buyer will pay. As part of that decision you will have to objectively consider comparable properties in your area and current market conditions, as well as the cost of financing and its availability. Your home needs to be in line with comparable properties and market trends, you don’t want your home to linger on the market if you price it too high or sell for a lower price than you might have otherwise received if you price it too low. Also keep in mind that “For Sale By Owner” homes typically attract bargain hunters who may expect you to lower your price since the know you are saving money with no Realtor commission.

Marketing Your Home

When you decide to list your home, it is extremely important to make sure people know that your home is for sale. Realtors have a number of ways to make sure the public knows that your house is on the market. As a Realtor, I can list your house on a number of different sites, including the MLS (multiple listing service), which is a forum where participating real estate agents can list properties they have for sale. Only Realtors have access to the MLS. This means that for you to successfully market your own house, you need to consider doing one or more of the following:
• Put up signage that is consistent with local ordinances
• Develop and pay for advertising in print and online
• Hold open houses
• Work to ensure your home gets good word of mouth exposure amount your friends , neighbors and community organizations

Showing Your Home

You will be responsible for all showings of your home. With that in mind, always encourage prospects to make an appointment and discourage drop ins. Work to screen the “buyers” from the “lookers.” You should also pre-qualify potential buyers to ensure they can afford to buy your home. When the time comes to negotiate, you will need to be prepared. Try to resolve any doubts your buyers might have, work to keep their interest high and make final agreement as quickly and efficiently as possible. Once an offer is made, agree on the price and terms, respond to objections and try to be responsive and flexible to legitimate concerns.

Drawing up the Contract

Every independent home seller should have an attorney or another qualified individual to review all agreements. That individual should be the one to draw up the contract and manage the sale proceedings and closing. You should be sure to include a list of items you want written into the contract, including any personal property that will remain with the house (like the refrigerator, microwave, oven, dishwasher, etc.) or items excluded from the sale. Also remember as the seller you are required to disclose any material defects in your property to the purchaser.

Selling your own home takes a lot of hard work and know how. Making even a small mistake can be costly. Working with a Realtor gives you the services of an experience professional with advanced training in residential sales. Not only will that free you up from time consuming tasks involved with selling your home, it gives you the added expertise to help maximize the profit from your home. Consider all of the above before you decide to sell your house without a Realtor. Still not sure? Call me and let’s set up a no-obligation meeting to discuss what it would be like to hire me to sell your home.