The Most Important Question
Before all else, you must ask yourself, “Am I offering a BAC – buyer agent commission?” If the answer is yes, great news! You are now legally allowed to have your home listed in the MLS for a small flat fee. If you’re selling your home by yourself, this will make your life so much easier. The biggest benefit is that it gives you access to a multitude of websites to promote your home including: Realtor.com, Zillow, and many other household names (no pun intended).
However, if you’re not offering a BAC, you’re at a disadvantage. Since other home sellers will have access to the MLS, they will get more offers. It’s not coincidence that those with MLS access sell faster and get higher net prices on their homes. That’s why Flat Fee MLS listings are known in the industry as “a better alternative” for when sellers want to save money, still sell, and not pay a listing agent.
How can I sell my home without a REALTOR®?
Price & Prepare your home to sell
If you choose not to list your home in the MLS, the most important key to prepare your home for sale is to: be aware of local market activity and compare prices. The biggest reason a home doesn’t sell is because it isn’t priced competitively. The longer your home is on the market, the more time, energy, and money is spent on marketing.
Transactly Tip: Many realtors will offer a portion of their services for free – such as a comparative market analysis. Listing agents do this in hopes of tipping the favor towards them if you decide to list your home. Even if you have no interest in working with a listing agent, this is valuable and free information to you.
Marketing
To market your home successfully, not only will you need “for sale” signs, pamphlets and brochures, most importantly, you’ll need energy, time, and money. This alone is why some want a real estate agent. Agents risk their own money on marketing your home hoping for the best. If you’d rather spend your money doing this, that’s your decision.
However, you can still sell your home, without an agent, and get help with marketing. There are cheap resources out there who, for a small flat fee, will provide you with 2019 Transactly technology to sell your home quickly. More specifically, you’re provided with a unique URL from which to promote your home. Through this URL, not only can you promote and market your home, but you can accept offers on it, too. Ads on Craigslist, and a note in your Aunt Linda’s church bulletin, likely are’t going to cut it for those who are serious about selling quickly and getting a high price.
Prepare to show your home
When it’s your house, you’re likely aware of what the highlights are to best stage the home. But, what do your friends and family think are the best aspects of your home? Beauty is in the eye of the beholder, so it’s best to get multiple perspectives on what features to highlight. Armed with this knowledge, your next step is a deep clean of the home. Scrub down and dust everything. You’re looking for a pristine look that will appeal to the masses. Some home sellers will take this time to hire a professional cleaning crew to really make sure all is ready. Here are some must-do repairs before selling a house.
Show your home
What is the value of an Open House? In a recent HomeLight survey on the value of Open Houses, 63% of agents didn’t always recommend them. However, the ones that do recommended Open Houses, suggest that Sunday is the best day of the week to get the most foot traffic and visibility. If the house is in the back of a crowded neighborhood, and there are a lot similar properties on the market, you must consider, how are you going to get people there in the first place? Effective marketing and preparation must come prior to showing your home.
Negotiations
Most For Sale By Owners (FSBOs) are surprised to learn that the buyer has more power than they originally thought. This is because the buyer will have an agent with them, and the FSBO will not. This agent will have access to confirmed and accurate contracts. Meanwhile, understandably, most FSBOs are unsure about contract accuracy, how to negotiate, and what exactly to do when a contract finally comes their way. If you’re adamant about negotiating on your own, make sure you’re familiar with counter offer strategies. The back and forth process will continue until both parties come to an agreement.
After negotiations, if you’re not an expert in contracts, it’s best to have your lawyer take a look at all paperwork. You’ve come this far, so you don’t want to get a raw deal now by not referring to an expert in land, law, or negotiations.
