Many homeowners want to sell their home without the help of a real estate agent. Usually, owners make this decision to save money and to take full advantage of their equity. This is a valid concern and I am here to help.
My philosophy is to provide the proper information to help buyers and sellers with their real estate needs; this includes those who wish to do the work on their own. I feel that my services are worth every penny, but I also respect those who would rather save money by performing these activities on their own. I’ll outline some of the key and very important steps here. If you do try to sell your own home and aren’t able to achieve results, please contact me and I’ll be happy to go to work for you.
Preliminary Questions to Ask Yourself Prior to Listing Privately
These questions should be answered first if you want to take this big step and be successful. If the answer to any of these is “No” then you may face challenges and might need to reconsider your options.
Question 1: Are you willing to pay a fee to a buyer’s agent?
Typically, using a REALTOR® doesn’t cost a buyer anything, so most use one without hesitation. If a buyer will need to pay their agent to buy your home, this amount will essentially be added to the cost of your home in their mind, and this generally complicates things. If you wish to make your home available to the most potential buyers, it is important to offer to pay the buyer’s broker.
Question 2: Are you available during the day to take calls and schedule showings?
Most buyers and real estate agents see homes during the day and on weekends. The process of viewing homes is naturally tedious and tiring and if you’re not easily accessible to handle these things, many buyers will not consider your home.
Question 3: Will you use a lockbox to allow buyers and other agents to see your home while you are not there?
Sellers who remain in their home while it’s being viewed simply create tension with potential buyers. Many buyers are not willing to spend much time in these uncomfortable situations, so they don’t seriously consider the property. This also creates a smaller window of time in which your home is available, which is very limiting.
Question 4: Are you able to verify that the people calling to show your home are legitimate home buyers?
REALTORS®, are bound by rules, regulations and ethics that ensure they will treat your home properly. Can you verify that it is a REALTOR® calling to show your home? Are you opening your home to someone with malicious intent?
Question 5: Are you able to verify that the people you are showing your home to are pre-qualified by a lender?
REALTORS® pre-qualify their buyers prior to showing them homes to ensure they can they afford a home. It ensures they are only shown the homes they can afford to avoid disappointment and wasting time.
Question 6: Can you afford to wait a few extra months for your house to sell?
Statistics say that people who sell their own homes take longer and sell their homes for less money than those who sell with an agent. This is typically due to the lack of exposure to potential buyers; buyers typically work with agents and search for homes in the MLS® system. When you sell your home on your own and don’t have access to the MLS®, fewer buyers discover your home is for sale.
Ready to Continue?
If you can answer “YES” to most or all of these questions, you are ready to continue. If not, consider the specialized services that I provide and contact me for a free consultation.
Selling Your Home Tip 1: Staging / Curb Appeal
Getting your home ready to sell is an important step. The overall condition and look of your home is an important factor in determining how quickly it will sell. Many buyers won’t view homes if they don’t like the way it looks from the street, and others aren’t able to look beyond your belongings inside of the home. It’s vital for a buyer to be able to see themselves in your home, so you might consider hiring a staging consultant.
Selling Your Home Tip 2: Marketing
Determine how you want to market your home in order to gain exposure to the pool of potential buyers. The yard signs, newspapers and the internet are possible places to market your home. When selling privately, I would suggest pricing the options and establishing a plan for the next 6-9 months.
Selling Your Home Tip 3: Pricing
The only thing that matters in pricing a home is what a buyer is willing to pay. Never mind what you want, or what you need, or what your neighbour sold their home for. A good place to start is by comparing your home to other similar homes, within a few block radius, that have sold within the last 3 months.
Selling Your Home Tip 4: Seek Legal Representation
Knowing your rights is important during the home sale process. If a REALTOR® is helping a buyer, they may give you advice but they will always be loyal to the buyer. What is in the best interest of the buyer isn’t usually in your best interest, so be prepared.
Selling Your Home Tip 5: Showings
Determine a plan for making your home available to buyers.
Selling Your Home Tip 5: Negotiating The Offer
Determine how you will negotiate if an offer comes in under the list price. An agent working for the buyer will most likely be skilled in negotiation, so it’s important that you understand early in the game what you need to sell the home for. You should also set out a minimum that you’re willing to accept.
Selling Your Home Tip 6: Inspections
The buyer will need to inspect the house for problems, so make sure you are available to let the buyer enter your home for the inspection. There will also be a process of resolving any safety issues that the inspector finds, so be sure to prepare for this when accepting an offer.
I wish you the best with the sale of your home, regardless if you use my services or sell privately. My goal is to be of service at all times, so if you have any questions, I will be happy to help. To discuss your real estate needs, select the “Ask the Agent” button above and let’s get started today.
