As a home seller, you likely want to sell your house as quickly as possible. Believe it or not, one of the most effective ways to do that is selling on your own, without the help of a real estate agent.
According to the 2020 Profile of Home Buyers and Sellers, for-sale-by-owner (FSBO) houses sold quicker on the market than agent-assisted houses. Specifically, 77% of FSBO homes sold in under two weeks. This was often because the seller sold directly to someone they knew personally. The report also mentioned that 81% of successful FSBO sellers who knew their buyers personally were very satisfied with the selling process. Although, selling to someone you know personally doesn’t have to be the only way to sell your home successfully without a real estate agent.
While it will require more work on your part, the payoff is often well worth it. Here are a few tips you can easily follow to simplify and optimize the process.
1. Set a Realistic Price
If you want to sell your home as quickly as possible on your own, you need to price it reasonably. If you price it too high, you won’t attract any buyers. Conversely, if you price it too low, it will likely fly off the market, but you’ll miss out on your rightful compensation.
If you’re not sure what a realistic price for your home is, there are several tools you can use to figure it out. Firstly, you can check out online valuation calculators on real estate sites like Zillow and Redfin. Another popular online valuation tool is the Federal Housing Financing Agency’s house price index (HPI) calculator. You can also ask an expert to conduct a comparative market analysis, which you can then use to price your home to the appropriate amount.
2. Sell to a Cash Buyer
Another hassle-free way to sell your house without a realtor is to sell to a cash buyer. Many companies specialize in buying houses for cash. Typically, they will purchase homes of any size, location, or condition. That means that you’ll rarely need to worry about being turned away.
Knowing that your home is practically guaranteed to be bought offers a peace of mind you can’t put a price on.
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3. Advertise Through Various Channels
One of the most important steps in attracting buyers is advertising, but in 2021, you need to be creative and diverse when developing your advertising strategy.
Many homebuyers begin their search online, so you’ll need to make sure your home is advertised on the internet. You can advertise on real estate sites like Redfin, Zillow, ForSaleByOwner.com, and many more. If you want to spread the word even further, you can also advertise your home on social media websites. This is especially the case if you have a lot of friends or followers as the reach of just one post could be your home selling ticket.
4. Be Patient
Selling your house is a process, so don’t be discouraged if the first few buyers don’t bite or if they make an offer below asking. Decide what you are and aren’t willing to compromise on, and stand firm. Above all else, be as patient as you can be and have faith that your perseverance will pay off.
Selling a house without a real estate agent may seem daunting at first, but the rewards can be invaluable. By doing it on your own, you’re putting yourself in the driver’s seat and taking full control of the process. As a result, the satisfaction when you do finally sell will be all the more fulfilling.