The tips I learned on how to sell my house without an agent
When I decided to sell my house, I did not know it would be such a long and tedious process; especially after choosing to sell it without involving an agent. If you choose the same route, you could benefit significantly from these valuable lessons.
But first, let's look at the advantages I enjoyed as I mastered how to sell my house without an agent:
- No agent’s commission
In most cases, realtors get a commission of about 6% of the house price. This can be a substantial amount, and if you can avoid paying it, you could enjoy more profit from the home sale. However, you need to be prepared for it to be a lengthy process that may take a significant amount of time.
- Sometimes ''for sale by the owner'' houses sell faster
In some instances, however, the house tends to sell faster when the owner is the one selling it. On average such homes can sell two weeks earlier than those sales where realtors are involved. This is usually the case when the owner and the buyer know each other.
Steps when selling a house without an agent
Below are the steps I found crucial when I explored how to sell my house without an agent:
- Price your home reasonably
When selling your house without an agent, you have to get the asking price right, or else it will mess things up. If you fix the price too low, you will get less money from the sale than you could (or should) have. Conversely, if you price it too high, you will most likely not find a buyer, and you may have to cut the price after several months after wasting your time waiting.
So, how do you set the right price for your house? You can use any or a combination of these approaches — get a licensed appraiser to value it, use online real estate valuation tools or seek a competitive analysis from an agent.
But at this stage, I wondered: what other option do I have if I don't want to pursue how to sell my house without an agent? I found out I could sell to cash home buyers and avoid the stresses of the entire sale process. These house buyers check your house, give you an offer, and after you accept it, they prepare the paperwork and pay you the agreed amount: no hassle, no home preparation, no staging.
- Prepare the home for sale
You need to get the house ready for the buyer to view it and make them want to make an offer. Some of the preparations include repairing, de-cluttering, removing personal items to make it neutral, and any other activities to ensure the property is ''show-ready.''
- Market your home
As you embark on marketing your property, take some high-quality photos of each room and, if possible, two to three pictures for every room is better. You can get a professional photographer if need be. Additionally, write a good but brief description of your home, and you can borrow ideas from nearby homes for sale. You can now start the marketing process using multiple approaches — erecting a good yard sign, advertising online on various websites and platforms, and using brochures. Besides, depending on your state, you could use websites that charge a small fee to list your property in the multiple listing service (MLS), which is better placed to get you a buyer faster.
- Negotiate and seal the deal
When you have your house on sale, several buyers will show up, and you have to be on top of your negotiation game. Without an agent to negotiate on my behalf (since I decided to follow that route), I also choose to learn how to sell my house without an agent; you have to handle the negotiation. Once you find a buyer who offers the amount you want or close to it, you can close the sale after agreeing on the payment — preferably through a bank transfer, direct deposit, or an escrow service. There is also the paperwork, which you have to handle, including entering into a formal sale contract through a lawyer. You also facilitate the transfer of the home to the buyer.