Checklist for Selling Your Own Home
Before we get started, let’s summarize what a full-time real estate agent would do to sell your home. A Real Estate Agent will typically:
Lists the house on the Multiple Listing Service (MLS)
Markets the house. Each agents has very different marketing plans.
Take all phone calls, questions and facilitates showing for the house.
Evaluates and negotiates offers from buyers
Manages the transaction, timeline and various stakeholders to closing. (Attorneys, inspectors, agents, buyers, appraisals, etc.)
How to sell your own home
Price Your Home to Sell
Remember to goal is to sell your home. You are pricing the square footage of a house on a property and the improvements that have been made in the current market. You should take emotion out of the pricing exercise. There is a science to properly executing price reductions based on number of days on market and number of showings/offers made.
Market Your Property
Buy “For Sale” signs, create and print flyers, put ads on Craigslist, Facebook and other social media sites. You can create ads and “boost” posts too. Build a website specific to the property and put the home on FSBO.com and Zillow. Do yourself a favor and get professional photos taken. Buyers like good pictures.
Hold Open Houses
Advertise by posting signs, calling and door-knocking neighbors and using social media and websites. Prepare refreshments and snacks and set out brochures with property details and contact information and a sign-in sheet. Consider asking a lender to be present to qualify buyers on the spot.
Know the Selling Points
Research other property descriptions online. Determine all the features about the house that you love. Think about the reasons you like the community and neighborhood. Make sure all the basic information about the house is clear, including measurements of each room in the house.
Prepare to Show the House
Clean and scrub the house from top to bottom, backyard to front yard. You need to create the best product on the market. This included closets, inside appliances, carpets, etc. Remove your personal items, family pictures and all clutter. Light candles and turn on ALL lights!
Show Your House
Get a lockbox for you house and answer calls from real estate agents or buyers. Before you give out the combo to the lockbox, you should have a way to verify the agent or the buyer.
Perform Negotiations
Obtain and review a contract template and retain an attorney. The buyer should be filling out a contract and submitting to the seller. It’s not final until it’s signed by both parties. Become familiar with different loan types, contingencies and verify the financial strength of buyers before signing a contract. It’s not uncommon for an unqualified buyer to lock up your property for months and walk away. Do not talk about your own situation and give away your negotiation position to anyone.
Comply with All Laws
Make sure your compliant with all laws related to selling homes. Some are universal and some are local. For instance, sellers cannot discriminate against buyers for race, religion and sex. There are other local laws and processes related to certificate of occupancy, etc. you should read up on.
Final Take
Selling a home is not for everyone. It takes time, marketing skills and patience to deal with all the people and processes. However, if you have some of these skills, some time on your hands and you have trusted resources at your disposal, selling your home on your own could save you quite a bit of money.
Take a look at these Simple Steps to Sell Your Home Faster. If you need other pointers or help listing a home, give a call anytime at:
Direct Cell Line: 732-239-5863
Text Only Line: 732-372-0112
Checklist for Selling Your Own Home
Before we get started, let’s summarize what a full-time real estate agent would do to sell your home. A Real Estate Agent will typically:
Lists the house on the Multiple Listing Service (MLS)
Markets the house. Each agents has very different marketing plans.
Take all phone calls, questions and facilitates showing for the house.
Evaluates and negotiates offers from buyers
Manages the transaction, timeline and various stakeholders to closing. (Attorneys, inspectors, agents, buyers, appraisals, etc.)
How to sell your own home
Price Your Home to Sell
Remember to goal is to sell your home. You are pricing the square footage of a house on a property and the improvements that have been made in the current market. You should take emotion out of the pricing exercise. There is a science to properly executing price reductions based on number of days on market and number of showings/offers made.Market Your Property
Buy “For Sale” signs, create and print flyers, put ads on Craigslist, Facebook and other social media sites. You can create ads and “boost” posts too. Build a website specific to the property and put the home on FSBO.com and Zillow. Do yourself a favor and get professional photos taken. Buyers like good pictures.Hold Open Houses
Advertise by posting signs, calling and door-knocking neighbors and using social media and websites. Prepare refreshments and snacks and set out brochures with property details and contact information and a sign-in sheet. Consider asking a lender to be present to qualify buyers on the spot.Know the Selling Points
Research other property descriptions online. Determine all the features about the house that you love. Think about the reasons you like the community and neighborhood. Make sure all the basic information about the house is clear, including measurements of each room in the house.Prepare to Show the House
Clean and scrub the house from top to bottom, backyard to front yard. You need to create the best product on the market. This included closets, inside appliances, carpets, etc. Remove your personal items, family pictures and all clutter. Light candles and turn on ALL lights!Show Your House
Get a lockbox for you house and answer calls from real estate agents or buyers. Before you give out the combo to the lockbox, you should have a way to verify the agent or the buyer.Perform Negotiations
Obtain and review a contract template and retain an attorney. The buyer should be filling out a contract and submitting to the seller. It’s not final until it’s signed by both parties. Become familiar with different loan types, contingencies and verify the financial strength of buyers before signing a contract. It’s not uncommon for an unqualified buyer to lock up your property for months and walk away. Do not talk about your own situation and give away your negotiation position to anyone.Comply with All Laws
Make sure your compliant with all laws related to selling homes. Some are universal and some are local. For instance, sellers cannot discriminate against buyers for race, religion and sex. There are other local laws and processes related to certificate of occupancy, etc. you should read up on.
Final Take
Selling a home is not for everyone. It takes time, marketing skills and patience to deal with all the people and processes. However, if you have some of these skills, some time on your hands and you have trusted resources at your disposal, selling your home on your own could save you quite a bit of money.
Take a look at these Simple Steps to Sell Your Home Faster. If you need other pointers or help listing a home, give a call anytime at:Text Only Line: 732-372-0112
