Are you wanting to sell your house fast without a listing agent? It’s definitely feasible, but it will take some groundwork on your part. Here is a quick guide on how to get started.
Listing a house without a real estate agent is known as for sale by owner or FSBO. Homeowners decide to sell their homes on their own to avoid paying real estate agent commissions. This is a way to save money in the long run; however, it will take more than putting a sale sign in your front yard.
Understand the Current Market
The first step to listing a house is to gain an understanding of the current market. Is it the right time to sell your home? Are you seeking cash buyers? Did you know that cash sales typically close in one to three weeks compared to about four to seven weeks on a conventional sale?
Figure out the current state of the market – a buyer’s market or a seller’s market. A buyer’s market means there are more houses listed for sale than active buyers. In this market, your home may sit on the market longer than expected.
A seller’s market means more buyers are looking to purchase homes than there are available homes on the market. Heard of bidding wars? This happens often in a seller’s market when multiple buyers want the same property. The good news is that a seller’s market is a fantastic time to sell your home as you could secure a sale price that’s higher than your listing price, or at least more than your bottom line.
Beware of the statistics: In 2018, 75% of all homes on the market were determined to sell below asking price in 2019.
Price Your Home Correctly
Setting the right price for FSBO takes some analytical work. You will first need to get a sense of what your home is worth. Also, look at similar homes for sale in your area, ones with a comparable square footage, lot size, number of bedrooms, etc. Smart actions for sale by owner include pricing your home slightly lower than other similar homes on the market.
Is Your Home in the Best Shape?
Selling a home or property also involves updates and renovations. Ensure your home is updated by doing small or large updates and then walking through to make certain nothing was missed. A fresh paint job is always a great way to improve your house and get buyer interest. In addition, look for ways to decrease clutter and organize items in your home. Check out your garden, too, to add curb appeal. Take some high-quality pictures of your home.
List It
The last step when all is ready is to list your home. Find a few for sale by owner websites to list your home online. Beware that these websites typically charge a flat rate, plus the cost of additional services. List your home on MLS. Your local MLS is the largest and most accurate database of for-sale homes.
Now, the homestretch is here. Pat yourself on the back, take a deep breath, and watch out for great cash buyers!