How To Sell A House Without A Realtor
It is possible to get an offer for your home by simply putting up the “House for Sale by Owner” sign (FSBO). It, therefore, is not uncommon to find homeowners in Florida who have successfully managed to find buyers for their houses without having to go through realtors. Most average income homeowners acquired their homes on mortgage plans, and the 5-7% realtor commission may eat into their profit after they have settled the mortgage from the proceeds of the sale.
To avoid this, many are turning to FSBO. Although it may not be so easy to sell your house fast by following this route, a good number of sellers have been lucky enough to get a cash home buyer and avoid the intrigues of engaging realtors. It, sure enough, is not a walk in the park to land a good deal by yourself, but it is possible when you know how to pull the right strings.
If you believe you can be able to push on your own till you clinch a deal, then you should gather a few tips and apply them. The tips should lead you to an alternative, quicker way of finding an ideal buyer without incurring unnecessary costs.
Cons of Selling Your House Without a Realtor: What You Will Be Missing
Real estate agents represent sellers, buyers, or both at the same time in the whole process. In your case, as a seller, they would do a whole lot of things that you may not have time or the accessibility to do. The following are some of their duties:
They list the property on MLS and conduct advertisements. Listing your home by yourself on the Multiple Listing Service may be limited by the fact that you are not a registered realtor- they bridge this gap for you, and it exposes you to multiple potential buyers from many regions.
• Realtors also carry out all social media, mainstream media, and digital advertisements, which may be costly for an individual- especially mainstream media advertising. Engaging them can help you sell your house fast.
• They help you with legal issues. Your representative prepares legal documentation that guides the transaction to conclusion and stands by you in case of any legal issues that may come up later. Through their attorney, they will help you comply with disclosure requirements by Federal Law.
• They negotiate the price on your behalf. Their facilitations ensure that you get the best profitable deal from the sale of your home. Doing it on your own may only fetch you a meager price since you may not be able to negotiate appropriately. Realtors have the edge over you in this by experience.
• They also vet the buyer for qualification. Some buyers may not be qualified to get mortgage loans- engaging them could waste so much of your precious time. The real estate agents have the means, the time, and the reason to carry out the screening before connecting you with the person who will most likely sign the deal with you.
How To Sell Your House “By Owner”
Follow a few tips here. They are not in any particular order.
Prepare Your House for Sale
The preparation would, of course, involve cleaning, but before that, you can remove everything that you would not need or would not sell along with the house- personal belongings. Put them away from the eyes of visitors who would come to inspect your home before they decide to finalize a deal with you.
Check outside your house for walls that need a fresh paint- buyers will not be attracted by worn-out color on your walls. Trim the hedges, mow the lawn, deal with the herbs in the garden. The idea is to have a well presentable home. Do not forget to check that the lighting is in good condition. Replace any lighting system that is dysfunctional- both interior and exterior.
Use Online Resources to Set the Price
Various sites can guide you in estimating your house’s value. You will need to compare it with other similar homes. You may have compared with other houses, the size by square feet, number of bedrooms, and bathrooms. Start with houses in your neighborhood before checking for different regions. However, be careful and avoid various for sale by owner websites that are not productive.
Having done that, set a realistic price- a price too low will lead you to making a regrettable loss, while a price too high will scare away potential buyers. Price setting will ultimately depend on how long you are willing to wait until you sell your house.
Scale Up the Advertisement if You Insist on Going FSBO
Advertisement is critical in reaching serious buyers from far and wide. However, having non-targeted ads may not achieve much. Try advertising through forums that potential house buyers are likely to be found. What would a prospective house buyer do when they are looking for a house to buy? Buyers would search online, and that is where you should go too.
• Advertise on real estate sites that are consumer-oriented like Trulia and Zillow.
• Take to YouTube and do a beautiful video of your houses’ interior and exterior and make sure you leave your viewers with your contact details.
• Use “For Sale by Owner” sites that will host your advertisement and connect it with other relevant sites at a fee that may prove to be worth it in the end.
Ensure Your Transaction is Legally Compliant
The best idea is to cooperate with a real estate attorney who would advise you on the relevant laws related to the contract that you are going to sign- After all, a realtor would do the same too. The collaborating attorney will prepare the closing documents in time to ensure a smooth and expeditious closure of your contract with the ultimate buyer.
You may decide to forego the services of a real estate agent, but you may not do away with the need for legal counsel of a real estate attorney. That is, if indeed you want to avoid potentially landing into problems with the law.
Consider Florida Home Buyers
We at FL Home Buyers are a real estate company in Florida. It is more comfortable with us since we buy houses from anybody without many conditions like having to repair it first. If you want to avoid foreclosure, to sell your home fast and make a quick profit, or sell because you are moving to another region, we are the team to approach.
We are a cash home buyer that closes the transactions on the very same day of the deal. At FL Home Buyers, we believe in keeping it simple. Sellers only need to give us information about their homes either by way of call in or visit us. We, in turn, may offer to visit and do our assessment then give you our offer. If sellers accept our offers, we buy houses in a flash, as simple as it sounds.
We exist to help you. If you find yourself facing frustrations trying to balance between going through realtors and going for “FSOB,” then we come to the rescue. Since we buy houses in cash and with no commission for you to pay, our services save you from the cumbersome advertisements, repairs, and listing processes that would make the process so long and the wait so disappointing.
Although there are some benefits of selling your house without a realtor- such as saving on commissions, the risks involved are terrifying. On the one hand, you are gaining, but on the other hand, you are losing. You lose in terms of weak deals, marketing costs, especially if you don’t have an established network, or legal ramifications. The frustration that ensues becomes so confusing.
FL Home Buyers comes in to ease the frustrations. We solve your problems by eliminating their very source. We remove the commissions and the closing costs, and as a cash home buyer, we give sellers the freedom to close the transaction when you want.