Thinking of selling your home on your own?
Seems funny doesn’t it that I, a realtor, would be showing you how to sell your house without a realtor? That’s because there are so many layers to selling your house, and I want to protect you from harm, from lawsuits, and from NOT selling your house when you’re so ready to move on. Here are some tips to save you from a great deal of grief!
How to Price your Home to Sell
Analyze other SOLD homes within a mile or two radius of your home that are the same style, around the same age, have similar square footage, the same number of beds and baths, lot size and garage stalls. REMEMBER I said sold, not on the market, not under agreement but what they sold for within the last 3-6 months.
Where Should I Advertise my Home for Sale?
This is where the buyers are looking. Buyers are not looking in the newspaper or in those little free booklets that are piled up at your local breakfast place. So make sure you post it on Zillow or Trulia. I would avoid Craigslist. That’s for bikes and soccer balls. Not houses.
What is a Buyer Agent Commission
Most buyers are represented by a Realtor and the reason for that is because it’s free for them. Buyer Agents are paid out of the total commission paid to the list agent of the home the Buyer eventually chooses to buy. Refusing to pay out a Buyer agent commission eliminates many many
buyers. 2.5 to 3% is half of the amount that you would be paying a listing agent.
Fair Housing Laws
Learn them, know them, follow them
Discrimination is a real thing. Even when you think you’re not discriminating you may be. Know what you can and cannot say about the house, the yard, the neighborhood and the town.
And on that note, watch your language.
You can’t say that the home is great for a family (a couple with no kids can’t buy it?). You can’t tell them the schools are great.(you are not a school expert even if your children attended these very schools). You can’t even say it’s a short walk to the park (what if you’re in a wheelchair). There’s more words and phrases that discriminate without you even realizing it so be sure to educate yourself and stick to the facts.
Do I Have to Disclose the Home’s Problems
You need to offer information to potential sellers about your home. Such as, the age of the roof and heating system. The types of flooring and what’s under the flooring. If you had mold, a leaky roof, water in your basement or radon issues. Everything you know must be disclosed. Don’t lie or cover up. If they find out that there was an issue that you didn’t disclose, you will have a very big problem on your hands.
Should I Give a Tour to Buyers?
Let the buyer walk around alone, don’t hover, don’t over share information that has nothing to do with the house itself. Listen to them, answer their questions briefly and don’t answer questions you think they should ask but didn’t. Don’t push them AT ALL. That will completely turn them away.
Should I Have an Open House?
Only 1% of houses are sold at or because of an open house with an experienced Realtor as the host. You will have several people in your home at once, who you can’t watch, you may or may not be qualified to even buy a house, and who may even be there for nefarious reasons. However, if you insist, please stay safe and do the following:
Hide your valuables including prescription drugs
Invite someone to join you–there is safety in numbers
Station the 2nd person in a place in the house that you aren’t, such as the second floor.
Ask all who enter to sign in and insist they show their ID
These suggestions won’t guarantee you stay safe but it’s definitely better than being vulnerable.
The Housing Market
Watch what is selling and at what price. Know your competition and how that home compares to yours and be realistic. Your home isn’t more special than theirs because you hosted Christmas dinner since 1974. Are they lowering their price?
Make sure every buyer requesting a showing is qualified with a pre-approval in hand and have them email it to you prior to scheduling a showing. NO, they cannot just bring it with them. Don’t worry about offending them or scaring them away. If they are truly interested, they will call you back when they are ready to buy.
This will limit the number of strangers entering your home and that’s a good thing.
Do I Need an Attorney to Sell my House?
You’ll need a title company to perform the title search on your home and an attorney to hold escrow and write the purchase and sales agreement. You aren’t selling a car. A house is far more complicated and you want to protect yourself.
Can I Sell my Home “As Is”?
After the Home Inspection, be willing to make repairs or offer a credit to the buyer. You don’t have to fix or replace everything but unless you have stated from the beginning that you’re selling the house “as is”, it’s only fair that you listen to their requests and address some of these items.
That was a LOT and there’s even more to learn so be sure to click on this link for a great guide/ebook: https://deewebsterrealtygroup.com/for-sale-by-owner/
There are other videos in addition to the one attached that will help educate you as well so feel free to watch those, too.