Let’s delve into a few tips on how to sell a house without an agent.
It’s a common belief that you must hire a real estate agent to sell your private home hassle-free. Many people still follow this path. But it doesn’t mean you also have to do the same. Selling a home to an individual on your own is not easy, but it is not as challenging. Statistics suggest that more than 25% of selling and buying happen between private parties nowadays. There are precisely two options to accomplish this task without a realtor. It can be faster also.
One way is that you find a person interested in buying your house. It will be a one-to-one process. No company or real estate agent has anything to do here. For this, two things are critical – the location of your house and pricing. A place in the prime area with a lower asking rate can quickly sell than others. But it can take time to materialize. Another choice is getting in touch with a company that buys properties. You may get less than the actual market value, but you can sell your home in about five days. And the best thing is you don’t need to do anything.
Selling home privately or directly to an individual
This guide walks you through how to sell a house without an agent, and it’s much easier than you might think.
Get your house ready
Tour every corner of your home and examine all the rooms closely from a buyer’s perspective. Note what you like or dislike or would want to fix. Even minor touch-ups in the house can bring dramatic changes in its looks and get top dollars for it. Experts suggest that it will be best to wait for some time if it requires a fixer-upper. Once you are confident that you must go for it, you can start the process. In the end, make sure to declutter. Anything unnecessary should go in the closet as empty spaces appear bigger. Besides, remove all the wall pictures that can distract your buyers and their imagination.
Decide on a selling price
You have to first arrive at a value that can be attractive to you. So, determine at what price you will sell your home. It will also clarify your prospective buyers as they pick a property based on its price when browsing their options online. For a fair assessment of the range, you might have to research. You can check the recently sold homes in your neighborhood for an idea. Also, when estimating, you need to consider the number of rooms and bathrooms, garage space, yard space, etc.
Since it can be a tiring job, you can talk to a real estate agent to get their help with an appraisal. It would incur a small commission fee. You would want to review if you struggle to sell your home for a specific price range. In this scenario, you will again have two options – either wait for the right offer or reduce the asking price to get rid of it quickly. You have to do this activity from time to time until your property gets sold. It will help you understand your position in the market.
To attract more buyers, you can take some beautiful home photos from different angles and add their dimensions. HomeBright offers a guide on How to Take Real Estate Photos That Will Sell Your House 32% Faster.
You can share it with an interested party before they visit. Simultaneously, you can post them on listing sites or services for buyers to discover your property quickly. Keep an eye on how many bookmarked or viewed your site. It will be a hint that you are going to get calls soon. When someone contacts you, share only as much information as may be necessary. Let them visit your property on an appointed date.
Walk buyers through your home
No valuable or confidential details should come out before them. The first visit from the buyer is not about a thorough inspection. Let them take a stroll on the property and answer any queries they may have. Some typical stuff they discuss are taxes, repair or renovation, heating bills, etc. Hence, keep these details ready.
Negotiate, close the sale
Now, the real selling game is on. Don’t ignore it, even if an offer comes from a real estate agent. When you have an interested party, you need a property lawyer who knows everything about private home selling in the state. You depend on that person when it comes to closing the deal, whether privately or through a realtor. Make sure you don’t reject any offer outright unless it makes absolutely no sense. If someone quotes a low price, you should not get offended also. It is nothing personal. The buyer wants to secure the best deal for themselves. So, stay focused on your goals.
After everything is final, both parties will have their lawyers together to draft a formal sales agreement. It can require multiple revisions to be favorable for both parties. After this, you two can formally fix a date to close the deal. On this date, you will get paid, and your buyer will receive the house keys along with the deed.
These are a few things you would have to go through when you sell a house without an agent. Although it is a simple process, you have to look into too many aspects, which can be stressful. If you don’t have energy, you can save your time, efforts, and money by contacting a property company that buys homes directly from the sellers. It is an emerging trend nowadays. People opt for this method for its quickness and hassle-free experience. You don’t have to talk to too many people and show your property to them. The legal part will also not be your concern. They will assist you through and through.