There are so many rewards when you sell your own house. You can very quickly save 5% or more of your home’s value just by not having to pay a commission to a Realtor.
Sadly, only about 20% of homeowners feel up to the challenge of selling their own houses. Real estate agents may tell you that this is because of a lack of knowledge or expertise. The sobering reality is that realtors want you to stay uninformed and do not want you to learn how you can very easily sell your own house. They know it indeed is something homeowners can do, and they don’t necessarily want you to educate yourself about how to sell your own house.
Some of the advantages when you set out to sell your own house are as follows:
- You pay no brokerage fees. Getting to keep all the proceeds is a huge incentive and benefit when you sell your own house.
- You are the head honcho in charge of the transaction. You do not have to bow down to a real estate agent while he or she dictates the terms of sale to you. It’s a great feeling to know you are in charge and get to call the shots when you sell your own house.
- You can show your home more frequently and at a time when you are most comfortable and ready to show it. Agents love to schedule the showing of your home when they fell like it, based on their convenience and not yours. They tell you to be available all the time and yet still dictate to you when they will show your house to a potential buyer. When you sell your own house, you get to decide when you would prefer to show your house instead of having a realtor dictate your schedule and availability.
- No one is going to work harder for you than you will work for yourself – especially given the fact that when you sell your own house, you are keeping 100% of the fee and not handing a portion of it over to an agent.
There are some disadvantages when you sell your own house. However, if you take your time, do your homework, and take it one simple step at a time, you should realize that like most things in life, selling your own house isn’t rocket science. You can sell your own house much more easily than you might think. Let’s look at some of the more common things a Realtor might try to convince you are obstacles when you want to sell your own house.
You must do it on your own. A real estate agent will try to convince you this means that you are alone and that you have very little chance of finding a qualified buyer. The reality is that this is just not true. Every day countless people are looking to buy a house to live in, sell, or rent to tenants. Most would rather deal directly with the seller because it usually means a much better deal for everyone involved.
You, of course, must cover your advertising costs, but in the long run, it will mean far less money out of your pocket when you include the considerable fee any realtor is going to charge you for doing what you can certainly do for yourself. You can find several places online to list your home and spread the word about your available property. Since more and more people are relocating and using the internet to search for houses to buy, this makes for a perfect match.
Real estate agents may:
- Try and convince you that the almighty MLS (Multiple Listing Service) is something to which only they have access. The truth is, you have access to it too. You might try several other methods of listing your property, and then if you don’t get any interest or offers within a reasonable amount of time, you can put a listing on the MLS for a fee.
- Tell you it’s easy to underprice or overprice your property without their help. While it’s true that you can do either, the fact is you don’t need an agent to figure out what other comparable homes in your area are worth and for what price each has sold. You can check with local agencies and do a simple public record search to find this information quickly.
- Try to convince you that they will be able to get more money for your property. Keep in mind that agents are working on a percentage of the total sales price. The reality is that once you take them out of the equation, you are still able to walk away with much more money than you most likely would have instead of using them. Remember, they get the full commission even if your house sells in the first hour it goes on the market. This can work in your favor just as it can in theirs.
- Tell you every moment of your time is going to be eaten away trying to sell your own house. This is not likely if you take some simple steps to spread the word and keep your lines of communication open.
- Have you think your common sense won’t work if you sell your own house. They may try to convince you that since it is your house and you have an emotional connection to it that you will somehow lose all common sense when it comes to any negotiation with a buyer. Do you think you will lose common sense merely because you are selling your own house?
To be the most successful when selling your own house, you have to know what’s going on with the sales process. Below you will find some practical tips for when you set out to sell your own house. These tips have helped countless homeowners say goodbye forever to real estate agents and discover once and for all how to sell your own house.
- Don’t take shortcuts when preparing to sell your own house. Do your research.
- Be aware of any legal disclosure requirements in your local area. Doing so will ensure you are completely protected from all buyers. Carefully research your paperwork. You can quickly get the information you need to comply with your local area’s laws.
- Discover more about staging a home to sell. There are even a few great shows on TV that specialize in showing the viewer the absolute best methods of getting a house ready to sell and how to command and receive the highest asking price. Check your local listings for show times and channels.
- Be careful not to discriminate. It’s illegal and can get you into hot water. Use your common sense on this one and consider all potential buyers based on the following. Are they qualified and can they afford to purchase your house?