7 Things to Know Before Selling a House Without a Realtor.
Almost 90% of home sellers use professional realtors for assistance in the transaction, even though it’s clearly the norm you don’t have to! For sale by owner transactions are an option for almost every homeowner and can have great results!
Selling a house without a realtor is possible and has many benefits for the homeowner, including saving money in the end.
But it takes extra effort and work when you decide to go about the process on your own. It’s important to understand what you’re getting into before beginning to get the best outcome possible. Follow our guide with the top seven tips for how to sell your house by owner without a realtor.
1. Understand the Selling a House without a Realtor Process
There’s a reason so many homeowners choose to use a realtor when selling their homes. The whole transaction requires several very intricate and technical steps, each has to be done exactly right or the whole thing could be voided.
Luckily, all of this information is available to anyone who wants to attempt a sale on their own. It’s just important to take the time to understand what has to be done before putting your home up for sale. If you have all the understanding ahead of time, the process will go much smoother for you.
Avoiding any surprises and setbacks is the key to having a successful sale as quickly as possible.
2. Need the Right Kind of Buyer
Because of the technical nature of a real estate transaction and the legal ramifications, if everything isn’t done correctly, some home buyers choose to only purchase from a real estate agent. So it’s important to find the right buyers who are willing to work with a for sale by owner situation.
The good news is that there are companies who specialize in buying any kind of home, in any condition, and in any situation. These home buying professionals are ready and willing to buy from any seller!
Since it’s quickly disclosed whether a real estate agent is being used or not, you won’t find it difficult to weed out the buyers who aren’t interested in your kind of sale.
3. Priced to Sell
When you’re looking at how to sell your house without a realtor, you’ll definitely come across the advice to price your home to sell. The quickest and easiest way to attract several potential buyers is to make the home more attractive at a good price.
There’s a fine balance every home seller has to find to get a good deal for them while still providing that for the buyers as well.
Setting the price of a home can make or break the sale, so make sure to check the surrounding areas, consult experts, and get an accurate appraisal. Keeping track of the market trends will help you make the most informed choice.
4. Set Negotiation Boundaries
Even if you set the best price possible, chances are still high that your potential buyer will still ask to negotiate or counter your price with their own offer. It’s a typical part of the home selling process but can be the downfall for those selling their own house.
To ensure you don’t get intimidated and sucked into a bad price, it’s helpful to set boundaries before even listing your house.
Understanding how best to negotiate and work through multiple offers will help you find the right fit, get the best price, and move through everything as quickly as possible.
5. Implement Marketing Strategies
When you’re selling a house by owner, it’s completely up to you to get the word out about your listing to potential buyers. To get a good offer and find the right ones, you’ll have to implement some marketing strategies.
Putting your home out there on sites like this can help get the word out and more eyes on it. You can help it stand out among the others by taking good photos that highlight the special aspects of the home. The clearer and more professional looking the better in these cases.
6. Have Documentation Ready
Those who have gone through a real estate transaction before know how much documentation and paperwork is involved. Going into a sale unprepared will definitely slow the timeline down and make it harder for you to close in a timely way, which is a deterrent for many buyers.
A quick way to know if you have everything you’ll need ready is to check with the bank or the title company for a list. They’ll be able to provide you with everything you need so you can be as prepared as possible moving forward.
We suggest keeping all of your important, necessary documents in a file that’s ready to go whenever you need it!
7. Take Time to Prepare
The best advice we could give any home seller is to take the time to prepare yourself and your home before listing it. This will ease a lot of the stress that can come from this type of situation and give you a better end result as well.
Before listing, make your home as appealing as possible to potential buyers. That means fixing up broken aspects, decluttering, and staging them to highlight the best parts.
It also means working on getting in a good financial spot so you know exactly what you need to purchase your next home. The time and effort it takes to be as prepared as you can will pay off in the long run tenfold!
Start Selling a House Without a Realtor
The idea of selling a house without a realtor often sounds overwhelming to homeowners, especially if it’s their first time selling a home. Luckily, there are a lot of resources available to help you through the entire process.
Finding the right buyer is the most important part of the entire selling task. Once you find a group that wants to purchase your home as-is without using a realtor, everything else will fall into place and you’ll be ready to move onto your next adventure in no time!
If you’re interested in selling or buying a new house in the Chicago area, contact us today!