Most times when selling a home, the commission that real estate agents charge is a killer. If you want to avoid paying commission and do your own no commission real estate sale, then follow these few tips to get started and no longer pay commission.
Price the Home to Sell
Before listing the property in private real estate listings, ensure you have placed a competitive price on the home. The internet can be a good source to find selling prices for similar homes. Be up to date on your research of other similar properties and how much they’re in the market for. All these price analyses would service beneficial for you where you can easily estimate how much your property can go on for and it would remain as a competitive price in the market. Agents make sure that they are active in the market and are updated with the prevalent housing market conditions. Hence conducting similar research can always help you further your property sales and enter a market with other agents where you find yourself holding the same amount of information as any other. If this home has a special bond with you and you have lived there for a long time or don’t really want to sell but have to it can be easy to overprice. The goal of selling your home is to not only save paying commission but to sell the home. Hence, you need to make sure that towards the end, you have followed the cost-effective path and have gained value for money in the process.
Marketing your property
The company you choose to use should be able to put you on the real estate ports and you will gain for sale signs and be able to create a brochure for you to market the home. There will be a cost involved and there is costs also involved in just advertising the home. Some may say why to hire a marketing company and just pay the commission to a real estate agent. The point is that the marketing fee is $1,000s less than the commission you are paying. Marketing the home can also sell it quicker. Agents and players in the real estate market have a way with words where you can find yourself slowly influenced by what others have got to say. Hence, it is up to your smartness to know the cost-efficient methods to go ahead with. An agent might make your job easier, but the marketing company can cost you a lot more money.
Hosting an open house
You can hold an open house in order to advertise the sale of your home. Put up signs that advertise the home and special features about it. Signs are good as someone may not read the newspaper, but signs can grab the attention of someone walking their dog. Make sure that your sign is placed outside in a conspicuous location, easily noticeable and accessed. Ensure that your personal contact details along with the exact location of the house have been provided for the potential buyer’s convenience. Finally, make sure that you’re easily and readily available when an inquiry is made with prompt replies and answers.
Selling points of a home
When you are doing your ad be sure to include the selling points of the home as well as the basic information about the home like the number of bedrooms, bathrooms, lot size and the price.
Take a look at similar listings and see what features they are mentioning often like oversized windows, stainless steel appliances, and granite or terrazzo benchtops. Make sure to highlight other unique features of the house such as the stone tile work or existing carpets, garden or garage, barbeque grill, dishwasher, etc.
Negotiating on your own
Negotiations done by real estate are often done in contract form and is submitted to the seller. The seller can then revise and re-submit or simply accept the offer. The process continues until both the seller and buyer can agree on an offer. This should be carried out with each own solicitor.
Real estate agents like to close the deals quickly to get their hands on the commission most times you don’t even get the price you want or even close. Doing your own negotiating enables you to not give away any weaknesses and strengths of your finances.
Ensure you check the laws
It is essential that you know the laws in your state when it comes to selling homes. There are universal laws and some that apply just to the sale of your home. Sellers cannot classify against the buyers due to sex, religion, race, etc. There are contracts online to help you start on the selling process. Ensure you get a solicitor to look over everything first relating to the sale of your home and then enjoy not handing over the commission, you can pocket it yourself and put it to better use.