You don’t want to pay a real estate agent to do something you think you can handle on my own. We get it -- more money stays in your pocket than someone else's. If you want to get the most money from selling your home and you think you can handle the sale on your own, then you may try to sell it "for sale by owner" (or FSBO). If this is the route for you then there are a few steps you can take to maximize your chances of success. We'll touch on those.
However, sellers beware! Often times, an accomplished and skilled agent, who offers you great terms on your listing agreement, may actually help you net even more money in your home sale. We'll cover that too.
FSBO
Price it right
One of the most important factors in selling a home is pricing it correctly. Research the value of comparable homes in your area to help determine the right price for your home. If you price it too high, you may have a harder time finding a buyer, but if you price it too low, you may not get the best return on your investment. There are host of online tools you can use to calculate home value and price-per-square-foot; it takes time to factor in the insight from comparable sales and any online home calculators.
Make necessary repairs
Make sure that your home is in good repair before putting it on the market. This may involve making small repairs or updates, such as painting, replacing old appliances to increase energy efficiency, or fixing any structural issues. If you're handy then you may actually enjoy these home improvement projects!
Hopefully you have been a considerate homeowner who has maintained the property in order to keep the resale value high.
Stage the home
Consider hiring a professional home stager or doing it yourself to help make your home look its best. This may involve rearranging furniture, decluttering, and adding touches such as fresh flowers or scented candles to make the home more appealing to future buyers.
Take good photos
Good photos are essential for marketing your home online, so make sure to take high-quality photos that showcase the best features of your home.
Market the home effectively
To reach potential buyers, you will need to market your home effectively. This may involve advertising the home online, in local publications, or through social media, as well as hosting open houses or other events to attract potential buyers.
Consider Real Estate Professionals
Sometimes in our quest to save money in a home sale, we take actions that we think will save a few thousand dollars; however, these result in a final sale price that falls way short of the maximum home value. The most prominent of these choices is whether or not to employ the services of a listing agent.
It's true real estate agents will take a commission of the final sale price of your home. But an elite agent also brings the skills and experience to the table that usually resulls a a higher price and shorter timeline to close. With this in mind, it isn't the most difficult of financial decisions to see why your agent can be worth their weight in gold.
The reason agents help your home sell successfully is not rocket science. They can immediately glance at the square footage of your existing space and tell you what it's worth in the open market. You may know comparable home sales in your neighborhood, but your agent will know the minutia that made each property command the price it did: did it have an in-ground swimming pool, energy efficient appliances, a state-of-the-art garage door, and hardwood floors? They'll understand the trends in the housing market and will direct you how to increase the resale value without needing a home improvement loan or personal loan. They'll handle staging and photography for you. Most importantly, they will source real buyers for your home and understand how to negotiate the best offers for your house.
At TrueParity, we are big believers in the value top agents bring. We find and screen the absolute best agents in your neighborhood and make them compete with each other to offer your the best terms to list and sell your home. That way, you know exactly how much money you'll net in your home sale.
Summary
Selling a home by yourself may help keep your costs down, but it can be a complex and time-consuming process. In order to capture full value you'll need to calculate the value of your home in order to set an accurate asking price, execute necessary home improvements to align the living space and amenities with the expectations of most buyers, stage the home to boost curb appeal, take high quality photographs to capture your home's appearance favorably, and market the home deliberately to reach as many prospective buyers as possible and get the maximum dollar value for your property.
If you don't have the time, energy, or expertise to do all of those things -- and who really does -- then you might want to find a fantastic agent who can do them all for you without wasting any money. It might be the best chance you've got at bringing home the most money for your house.
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Want the quickest way to convert your home equity into cash? Post your home on TrueParity and talk to experienced agents for free.
