Selling your house is, for most at least, far from being an everyday activity, and unless you happen to be or know a real estate agent in the given region, you may encounter a lot, and I mean a lot, of hassle. In this article, we will look into the fastest, cheapest and most efficient ways to sell your local house.
So, what are the Benefits of Selling Your House by Yourself?
Whether your reason to sell is divorce, moving, financial hardship or any of the thousands of reasons to sell a house, you may be wondering what possibly could be the benefits of selling it alone? Well, to begin, let’s look at precisely those, and examine the reasons which may lead you to consider selling you house by yourself, rather than using a real estate agency to do so.
· Having little to none equity in your house, making it significantly harder to pay any real estate commissions
- Despite having equity, you are trying to save your money – and good for you!
- Another usual reason for not wanting to resort to hiring a real estate agent with dozens of fees may be being in foreclosure (or possibly heading this way)
- Wanting to sell your house faster, for which avoiding real-estate agencies is the way to go
And now, who would not be convinced – you could not only sell your house faster and at your direction, but also without numerous further commissions! If you’ve been convinced, welcome, I’ll parade you through all you need to know about selling your house alone in Mercer County real estate market.
Selling at a Surplus, in Other Words How to Make the Process Profitable?
The housing market has been largely recovering since 2013, therefore remember that you can definitely sell your house at a profitable price, and you should not settle for any less. But, in order to achieve this result, you have to do it right – which is what this article is here for.
In most cases, it is important to keep your standards realistic, know smart market strategies and also be aware what your aim is with this sale – what you want to achieve with it.
First, let's examine how best to determine the price of your house.
1. Using House Value Estimators
The obvious, and most important step is: research, research, research. Use the Internet or other sources is to do market research on your own county. This step is mainly concerned with 2 aspects – knowing the price of your real estate and knowing how to set it. You can use various house value estimators, such as Zillow, Eppraisal the Chase home value estimator, etc), reading about various marketing pricing strategies, or even calling a real estate agent, who is a professional and can therefore help you understand the price of your home. Do your research thoroughly on this one – the better you do your research, the more likely you’ll avoid undervaluing or even overvaluing your estate.
2. Assess the Market of Mercy County
The next step is assessing the county housing market – the value of the houses in your neighbourhood. There are several main questions to research: How many houses are on sale in your neighbourhood? What prices are they being sold at? And of course, what is the number of foreclosures in the county – this may drag the price of your house down.
3. Determine the State of Your House
The seller must always make sure the house is in top condition – and in this case, the seller is you, so this obligation falls upon you. Determine whether the house needs repairs, and if so, how expensive and significant will they be?
You can also play specific characteristics up to your advantage – does the house have a parking place? What type is it – a garage or a drive way, or perhaps both? Individual buyers have individual desires, so the more specific you are in your offer, the better. Both the condition of the house and its characteristics may make the house more or less attractive, depending on the buyer. Always remember, that the more accurate your house price is, the faster it is likely to sell
Now, that you have determined the most accurate price of your estate, the second most important step is before you – marketing, so much marketing. But to make it all easier for you, here is a list of the best ways and places to market your house at:
1. Internet is Your New Best Friend
Studies have shown that up to 80% of all house buyers go to the Internet to find their best match. So, the Internet is from now on your best friend. Where to? Well, there are almost infinite numbers of websites to post your house to, but the most popular, and therefore attracting the most demand, include websites such as Zillow, Redfin or Craigslist. If you’re a real risk-taker, you can also set up your own real estate website, if you feel like it’s worth the experience.
2. Have We Already Mentioned Facebook?
One of the all-time best ways to sell anything is the word of mouth. You would not believe how far telling all your friends and family, and them telling theirs, and so on and so on goes. Sometimes, connections are key. The best way to do this is, of course, Facebook. Simply send a link to your house to all your friends, and you’re already half way there. People may just happen to want your house, you never know.
3. Do Not Forget to Use Photos and Videos!
An absolute given is to use photos – photos and videos will be your second best friend. Often, taking videos of the interior of the house, or walk-through videos, can help you differ between other sellers, and the algorithm may even play in your favour and help you reach a wider audience! Therefore, you simply have to take good quality pictures (and videos if you can), it is a non-negotiable. You can take pictures in every room, and if you’re feeling adventurous, you can also take shots from various angles. It is simply necessary to understand, that buyers may want to get a sense of what the house looks like before they show up to check it out in person. And plus, this may be the key difference between waiting for months and months to sell, and selling almost immediately!
4. Along the More Traditional Pathways, Try Using Local Dailies (Such as Newspapers or Magazines)
If you want to reach all possible audiences, you can also consider putting your house up as an ad into the local newspapers. It exposes your house to an even wider audience, and especially the ‘homes for sale’ is likely to get a lot of attraction from possible buyers. Do not forget to mention the main details: the price, some of the best details of your house (location, garden, etc), a link to the online enlisting (if you’ve decided to make one) and your own number for possible contacts. End the ad with a clear call to action including how the possible buyers can set up a time to see your house in person. Also beware, that real estate ads with pictures get many more responses than those without, so consider paying a little extra to generate more attraction.
5. Using the Multiple Listing Service
The Multiple Listing Service – namely the Local Mercer MLS – is a very fancy word for the place where real estate agents enlist houses. Because of this, it is the number one place buyers look to when searching for a new house. The listing of your house will enter a central Mercer database, which all local agents have access to. This may end up playing in your favour – as it is also the place real estate agents look to when searching for the kind of house their customers are looking for. Despite the high concentration of real estate agents on the platform, you can add your house without hiring one. Nonetheless, be prepared to pay a fee of around a several hundred bucks merely to get the house up, as the MLS is itself a paid platform.
Now that we’ve gone through all the main steps and techniques, you may ask yourself one final question:
Should You Hire a Real Estate Agent Instead?
We’ve already established the benefits of selling your real estate alone: it is not only cheaper, but can also be faster. And most of all – you and you alone are in control of both the buyer and your advertising. Some of these may be absolutely non-negotiable and important to you in which case, selling your house alone may be much more sensible. Nonetheless, it is also crucial, in order to make the most informed decision, to always compare all your possible options. And therefore, hiring a real estate agent may also be a viable option for you. As opposed to selling alone, there would of course be additional costs – the fee the real estate agent or agency derives from you. These may vary, depending on the individual or agency themselves, therefore before hiring one you may also want to do a search of the best prices. However, the additional cost also gets you devoid of all the time you would be forced to spend, not only on evaluating the price of your house, but also on its very marketing. This decision is ultimately a decision of price vs time. If you have the time, cannot afford any additional costs and/or want to sell exceedingly fast, your best option may be simply to attempt to sell the real estate by yourself. On the other hand, if you are willing to accept the additional costs, hiring a real estate agent may help you sell more efficiently and will ultimately rid you of all the hassle of selling by yourself.