Tips for Selling Your Home by Owner

When you decide to put your home on the market, it can be quite daunting. Our tips will make that process a whole lot easier. When you are equipped with the right tools, the sale can run smoothly.

Once you have decided that you are ready to sell your home, you must first detach yourself from your property. Therefore, you are no longer the owner, and this is just a property. By doing so, you are now able to market your home to potential buyers. Once you’re in that mindset, the next stage is to begin researching. Who lives in the area? Is your home a family home? Where are the local schools in the district? Should you sell your home for cash? More importantly, you need to find out the going price for houses in your area. This will allow you to set the price on your property. If a similar property in your proximity sold for $700,000, you wouldn’t want to put yours at 800,000 without good reason, as you would have no interest. However, slightly lowering it may help you get a fast sale.

When closing the sale on your home, you may choose to get assistance from a realtor. Realtors know the market and know how to get the best offer for your property. They also have access to buyers. Make sure to ask for the paperwork so you can ensure you agree to all the terms and conditions.

Word of mouth can be your secret weapon as your potential buyer could be within your circle. Advertise via social media, or create a post to be hung up at local gyms, newsagents, etc. The Multiple Listing Service (MLS) can enable you to attract a larger audience as potential buyers will look on there when ready to buy. Check your realtor is listed, otherwise your home will not appear in the search results. Last but not least, advertising on a for sale by owner website. You may even be able to get listed on an FBSO for a small fee which works out less than the standard methods.

By using a realtor, they do the full sale for you without you barely being involved. When you sell your home yourself, it becomes a full-time job: from putting up the ads to meeting potential buyers to negotiating for your best deal. A few tips to help you along your journey:

To keep your buyer interested, always arrive professional, presentable, and with your documents in a file. Buyers are familiar with a relator, and by arriving organized, you present as a confident seller.

Remember to keep in mind that loans are not easy to take out these days. You could advise local mortgage brokers that your home is for sale and request pre-qualified clients. Mortgage brokers are interested, as it’s a win-win situation: they sell and you become their client.

The most difficult part is thinking of this as a business transaction. It has been your home until now. When you meet your buyer, you are simply showing them a house, not your home. You can take days off when you feel a bit stressed. Be patient and the right buyer will come your way.

Published in: Home advice | Author: Lynn