When was the last time you had the opportunity to earn an extra $9,000, $18,000, or even $30,000? Can you imagine what you would do with that much extra money in your pocket after the sale of your home? If you already have a price point for selling, you might be thinking that you can’t possibly ask for many thousands of dollars over your asking price. If you learn how to market and sell your house without a real estate agent, however, you can save a lot of money without asking your buyer to pay more than the house is worth.
It used to be that only real estate agents could list properties on the Multiple Listing Service, or MLS, which is the biggest database of properties currently on the market. The good news is that those days are over. A homeowner can list a home on the MLS and get all of the exposure that a real estate agent can get. Why wouldn’t you want to list your own home and reap the benefits?
This guide will teach you how to market and sell your house on your own. It’s chock-full of resources that you can use to learn about the real estate market and sell your house for what it’s worth without having to pay a professional to market it. Read on to learn how to take your home’s sale into your own hands.
Step 1) Understand the numbers
On average, home sellers lose 6 percent of their sale price to real estate agent commissions. The buyer’s agent takes 3 percent and the seller’s agent takes another 3 percent.
For example, if you sold your house through an agent for $500,000, your agent would get $15,000 and the seller’s agent would get $15,000. If you sold your home yourself, you’d be gaining $15,000 in proceeds that would otherwise go in your real estate agent’s pocket.
As a side note, if your buyer also did not have a real estate agent, you could save that 3 percent, too. If they do have an agent, you might be able to negotiate what percentage that agent gets or you could nudge up your asking price to cover it. You determine the commission offered to that agent. You can offer the industry standard of 3% or a lower amount.”
Step 2) Prepare your home for the sale
Getting your house ready to sell is about more than just cleaning the bedrooms and putting a batch of chocolate chip cookies in the oven. Go through this list of tasks to complete as you prepare your home for sale:
- Research your house, neighborhood, and market. Have the home appraised so you know what it’s worth before settling on an asking price.
- Clean the house. Consider hiring a one-time cleaning service to get all of the spots you might miss. Also, learn how to stage the house by removing most of your personal belongings.
- Make small repairs or hire a handyman. Think about the little things that drive you crazy like a torn screen, a loose doorknob, or an outlet that doesn’t work, and get them fixed.
- Make small improvements to the house to bring up property value. Consider swapping out the front door, installing new carpet, putting in a closet organization system, or replacing the front windows.
- Improve curb appeal. Remember that you only get one chance to make a good first impression. Hire a landscaping company to tidy up the yard and plant flowers.
- Photograph the home. Consider calling in a professional photographer. You are going to need high-quality photos for the listing.
- Prepare all needed legal paperwork, including documents, contracts, and forms. Lowest Fee Realty can help you with this. Check out this list of documents you need to sell a home:
- Mortgage Loan information
- Purchase and Sale Agreement
- House Deed
- Title Report
- Offer and Counter Offer Forms
- Property Tax Information , including most Recent Tax Statement
- Homeowners Insurance Information
- Property Reports or documentation that relates to the property
- Lease Agreement, if currently renting the property
Step 3) List your house on a Flat Fee MLS yourself
Now that homeowners can list their own homes on the Multiple Listing Services (MLS) by paying a low flat fee, you can take advantage of the tools that real estate agents used to have exclusive use of. You can save thousands by listing through lowestfeerealtyfl.com. In addition, you would be getting exposure through Realtor.com, Zillow, Trulia, and Homes.com for a fraction of the cost typically charged by a real estate agent.
Additional MLS Resources
Low Flat Fee MLS
How It Works
Choose a Plan
Step 4) Market your home
Use sites that allow you to list your home for free to increase your exposure. Zillow, Craiglist, and Point2Homes.com are good examples. Build a free website on wix.com. Don’t forget to update your social media channels: Use Facebook, YouTube, Twitter, or Instagram (or all of them) to promote what you love about your home.
Some paid sites include FSBO.com and ForSaleByOwner.com. You can also place classified ads on eBay or in the local newspapers.
Don’t forget about your yard signage, either. Have some professionally made For Sale signs in the front yard and at the closest intersections to where you live. Post flyers in the neighborhood; ask local business owners if you can put a flyer on their bulletin boards. Each time you go to your local hair salon, independently owned hardware store, or other mom-and-pop shops, bring a couple of flyers and ask. The worst they can say is no!
Step 5) Close the Deal
Be ready to handle all negotiations on offers, counteroffers, and final contracts. You’re going to need to be available for all showings and negotiations until you close. The necessary contracts and forms are provided at no charge by Lowest Fee Realty. If you need assistance completing the contracts and forms, you can hire our licensed real estate attorney for between $350 and $1,000, depending on your specific needs. Contact us
to find out more.
Useful Tools & Additional Resources
Home Value Estimator Tools
Additional Resources on Documents Needed To Sell A House
Documents Needed to Sell Your Own Home Without an Agent
What Documents Do I Need to Sell My House?
Organizing Paperwork for Your Home Sale
What Paperwork Do I Need To Sell My House?
The Paperwork Every FSBO Home Seller Needs to Organize
US Legal Forms