When you plan to sell your home without a real estate agent, there should be nothing that you have to worry about as long as the market is moving fast and inventory is snapped up as soon as it becomes available for sale. However, most For Sale By Owner (FSBO) properties are typically challenging, not just from the point of finding a buyer, but through the entire process of contract acceptance and closing.
According to National Association of Realtors, most FSBOs still end up listing with a realtor, and this could be attributed to the fact that buyers are more often than not represented by agents, and that owners who sell by themselves don't possess the necessary skills and expertise to price a home and market it on the competitive real estate industry.
However, while it may sound like an impossible task, there are surprising ways that you can sell your home without a real estate agent according to About Home:
How much is a For Sale By Owner's home worth?
What you need to know when you want to sell your home without a real estate agent is that pricing is part intuition, part research, and part marketing. Also, an agent's opinion of value is not always dependable as some agents can take overpriced listings just to lure your business away from the competitors. Bottom line is, it is important to price your home correctly especially that the first two weeks in the market is a crucial phase as this is when buyers' interest levels are at their highest.
Preparing your home to sell as a For Sale By Owner
The real estate industry is competitive more than ever; so there is no chance of selling a home without the necessary preparation. Gone are the days that it's okay to show a home with the beds unmade and dishes in the kitchen sink. Instead, homes today must be in their tip top shape - more like a model home.
One best way to start preparing to sell your home without a real estate agent is by examining it from a stranger's point of view. For instance, ask a close friend to give you an honest assessment of your home if they were to buy it.
You should also be open to the idea of spending some money on improvements and repairs and recognizing that this could in turn make you a profit when done properly. Also, do not underestimate the power of home staging as it can mean the difference between selling now for more money or not at all.
If you have pets, consider sending them away during home viewings since it's harder to sell a home where pets live.
Marketing your home as For Sale By Owner
The good thing when you sell your home without a real estate agent is that you don't need to pay someone for their professional fee (and do things that you can actually do yourself). However, you should spend that saved money on advertising or marketing your property and making sure that you know your target audience and that you can get the message across.
You can do photographs, print advertising, direct mail or eflyers or do hosting tours as one of your house marketing tips. All these are aimed to get your phone ringing and increase traffic to your home. You can avoid marketing mistakes by being flexible with showings, offering incentives to buyers, and obtaining buyer feedback.
Remember that there are unique approaches when it comes to seasonal sales. There is a huge difference with how you would sell in spring and how you would sell during winter.
With more and more people going online to do their home search, you should get yourself a good photographer to shoot a virtual tour with at least two to four spins of your house; it would also be great to include drone photography. Include the link of the virtual tour in your marketing materials to improve your chance to sell your home without a real estate agent.
