Advise for Selling Your Own Home

Advise for Selling Your Own Home

Advise for Selling Your Own Home

There's no question that selling your own home can help you save thousands of dollars. So, it comes as no surprise that lots of folks are attempting selling their own home without having a realtor. That makes perfect sense...Home values have dropped so much in last few years that home sellers just can't decrease the price anymore than they curently have and still be able to pay out the real estate agent the conventional 6% fee.

The easy solution would seem to be to lose the middle man...the real estate agent. In doing so you save yourself thousands of dollars that you would have to pay out in real estate commissions and can therefore lower the price of your house to ensure it actually sells.

Then again, if you are selling your own home then you need to start acting like a real estate agent. There is a reason why realtors make their commission...because selling a home is work! Realtors work their rear end off to make a sale. So, if you're selling your own home then you must do the same thing.

Here are a few recommendations on selling your own home:

1. One of the primary things you have to do is learn several home selling methods. Don't forget, knowledge is power. If you have friends or colleagues that are successful realtors then speak to them. Question them what methods have worked for them and what methods were a waste of time and money. Also, get knowledgeable about real estate advertising. Make it a daily habit of looking at real estate advertisements. Get an idea of the way the ads are worded. Try to find the keywords and phrases which caught your attention.

2. Set realistic goals. Don't overprice your home. Play detective and go look at the other homes being sold in your area. What are those homes currently priced at? Just how do those homes compare to your own house? In today's market, the home that sells is going to be the best home at the best price. Also, make sure to research what homes have already sold in the area. What did those homes sell for and how do those homes compare to yours?

3. Be prepared to hold open houses every weekend. Realtors work Saturdays and Sundays and you are now your own realtor so get accustomed to working weekends.

4. Keep it clean! You may even need to hire a maid. Because you will have to show your home with very little notice it will need to be clean at all times. The last thing you want to do in this housing market is turn someone away or put them off until a later date. Have your house in ready-to-show condition everyday.

5. Take advantage of the internet. These days lots of people search for homes online so make sure you are using websites like Craigslist, Realtor.com, YouTube and many others to assist you in selling your own home.

6. Get listed in your local MLS (Multiple Listing Service). One of the biggest down sides of selling your own home is that licensed realtors are the only ones who can place your house on your local MLS. An MLS is still the primary method homes are sold in the united states. Approximately 90% of home sales are a direct result from an MLS listing. For that reason, if you are selling your own home you will want to utilize a flat fee MLS service in which you pay out a single flat fee to have your home listed in MLS. These flat rate services differ in cost and in what they offer so be sure to do your research as not all flat rate MLS services are top quality. Some just list your house while others provide lockboxes, "for sale" signs, contract forms, and may even do virual tours and open houses.

As you have seen selling your own home is not easy. It is work...this is exactly why realtors make a commission. Also, while selling your own home can save you thousands of dollars, some of that money will be required for advertising costs, cleaning and maintenance, and of course listing you home with a flat rate service. In the long run though, if you're willing to put in the time you can still save yourself thousands of dollars which may enable you to lower your asking price which will get you more traffic and ultimately increase your chances of selling your own home.

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