Selling a house is a daunting task for anyone. Most homeowners turn to property management companies, realtors, or brokers to assist with the selling process. However, the problem with hiring someone to sell your home is that they charge a hefty commission that can range from 5% – 6% or more. For example, you could owe $24,000 in commission costs for the sale of a $400,000 home.
The good news is, you don’t need to be a realtor or a marketing expert to sell your house. It will take some effort and creativity though. You will need to use technology to create traction online and use offline tactics like putting up acrylic signs, banners, decals, and flyers. Read on to learn how to successfully sell your own home.
How to Price Your House Correctly
You will need to determine the fair market value of your home to ensure that you don’t price it too low or too high. Pricing your house incorrectly will leave you walking away with less money or it will result in a not selling house.
Use real estate valuation sites like Zillow or Trulia to see the pricing of other homes in your neighborhood. When determining how your house stacks up to comparable listing consider the following:
- Research price per square foot in your area.
- Consider the market value of your home’s upgrades.
- See how your location compares to nearby neighborhoods.
- Review recent home sale prices in your zip code.
- Consider hiring a home appraiser to assess your property.
Host a Successful Open House
An open house is a great way to attract potential buyers to your listing. Before you can host an open house, you must prepare your house for prospective buyers. It has to be clean and in top-notch shape to attract competitive offers from your open house attendees.
Remember, one of the keys to a real estate agent’s success is their ability to attract appropriate buyers to a listing. Open houses today often start online and then lead to physical visits. Here are some tips for attracting the right potential buyers to your open house:
- You can use your phone to record a quality video of your house. Show all the rooms and their features.
- Edit and format your video to post online or, if you do not want to try your hand at videography, you can hire someone to help.
- Take photos of all the important areas and features of your house.
- Upload your videos and photos to real estate platforms, share them on social media and add photos to community boards.
- Include the address, day and time of your open house and some key house features like square footage and school district.
- Print flyers and share your open house announcement with a yard sign to attract the largest amount of potential buyers.
Once you have people showing interest in your house, you are ready to host an open house. Here are some tips for hosting a successful open house:
- Set out snacks and drinks for your guests.
- Print flyers with key listing information.
- Turn on accent lights and light a candle to create a pleasant environment.
- Give your home and yard a deep clean before the big day.
- Put a banner or sign at the front of your neighborhood with direction prompts to guide buyers to the location.
Market Your Listing
Marketing your house is easy since the majority of it can be done from your smartphone. List your home on all online real estate sites like Zillow and Trulia since they allow free listings. Post the photos and videos you have taken with a description that gives buyers all the information they need – the number of rooms and bathrooms, the square footage, features, accessories, etc. The more information you add, the better (and more qualified) leads you will get.
Although most buyers look for houses online, don’t limit yourself to just online marketing. Investing in offline advertising like acrylic signs, banners, decals, flyers, and brochures will grab the attention of people in the neighborhood.
Add Some Curb Appeal
Curb appeal is how your house looks to people from the streets. It is going to make the first impression on potential buyers. You can improve your house’s curb appeal without having to spend a lot of money:
- Wash all surfaces – pressure wash the porch, scrub the windows, deweed the yard and rake the leaves, etc.
- Repaint or polish the front door and add plants or a wreath to make your entrance inviting.
- Change light bulbs and add exterior accent lighting to the front of your house.
Just improving your house’s curb appeal will make a huge difference in the mindset of the people entering your home. Adding a bit of warmth to your home’s exterior can add thousands to your closing price.
Negotiate A Great Closing
The last step in selling your house is negotiating the price with your buyers. As the homeowner, you have the advantage of negotiating with your buyer in real time. This step is going to be time-consuming so you will have to be patient and calm. Buyers will try their best to undercut your pricing, but as long as you have done your due diligence when setting the price, you can stand your ground and get your desired price.
You can hire a discount broker to assist with the part of the buying process that a real estate agent typically handles. For instance, you want to ensure your buyers are prequalified and financially to purchase your home. For a 1% commission, a discount broker can negotiate contingencies, assist with financial paper filing, and support a successful closing.
Final Word
Listing a home for sale by owner can seem intimidating, but it is easier than ever to sell your own house for a great price. Remember, finding the right buyer takes time. Patience is key here, and as long as you’re marketing your listing effectively, you will close for a great price.
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