or those who are thinking about selling their house, one of the most common questions that comes up is, “Do I really need a real estate agent, or could I just sell my home myself?” Well, the answer is fairly straightforward. No, you do not need to hire a real estate agent, as it has become quite easy to sell your home yourself using the internet to connect you with potential home buyers.
In fact, hiring a real estate agent will actually end up costing you much more money as they typically charge very high commission fees. By selling your home yourself, you can avoid paying commission, and instead keep the majority of the profit from the sale for yourself, instead of giving half of it away to a realtor.Selling your home on your own is actually quite easy, and the steps below will tell you exactly how to go about it.
List Your Property Online
The first step you take when you go to sell your own home is to look online for real estate websites and portals. You should be looking for FSBO websites (for sale by owner), these websites can be found with a simple Google search. These websites will allow you to create a listing for your property for a fraction of the price that you would be paying to a real estate agent. Of course, it is best to choose a site that specializes in the area you live, as you will need to connect with people looking to buy a home in your locality.
Creating a property listing on these FSBO websites is incredibly straightforward and easy, but there are a few tips which could help to make your listing more successful and get it noticed. The first thing you should do is look at other listings on the site to see which appeal to you and which don’t. You will want to try and take notes and model your listing on the ones which appealed to you. You should also make sure to provide very detailed and honest information about your home in the form of a good description and high quality pictures of all of the rooms in the home, as well as the exterior and anything else you wish to highlight.
Talk To Interested Buyers
After creating your listing on one of the FSBO websites, you can think wait for potential home buyers to start making inquiries. Once you have an inquiry, you will want to talk with them and invite them to come and view and inspect your home to see if it is right for them. After conducting a few viewings, you will most likely start to get offers from those who are still interested. If you are not getting any offers, then you may eventually want to consider lowering your asking price.
Negotiate A Deal With The Potential Buyer
After you have received a few offers, you will then be able to start directly negotiating with the interested parties. If you have more than one offer, you can try to use the offers against each other to see if you can get one of the parties to better their offer. Once you have an offer that is acceptable, you can then negotiate and close the deal.
Hire A Lawyer To Create The Contracts
This is the only step of the process that cannot be done on your own, unless you happen to be a lawyer or have a very intimate knowledge of real estate law. After you have negotiated a deal, you will then want to hire a lawyer to draw up the contracts for the sale. Hiring a lawyer for this step will make sure that everything is done properly and within the scope of the law.
Settle Your Property
Once the contracts have been drawn up, all that is left is to go to the bank and sign the contracts. Both parties will need to be present and you will have to have all of the details settled by this point. After signing the contract, then the sale will be complete, and you can sit back and reflect on just how easy the whole process was and how much money you saved by not using a real estate agent.