Selling your home is often touted as a difficult and time-consuming process. There’s much to consider and even more to do when you’re the seller. And you’re probably worried about losing on realtor commissions and other extraneous expenses.
But selling property is not as impossible as some people are making it out to be. Especially when you have services like SleeveUp Homes that do everything in their power to help home sellers close the deal.
We’ll go over some of the most important considerations that a person selling their Southern California home ought to know.
Realtors vs For Sale By Owner
The first thing you’ll have to decide is whether you’ll hire the services of a realtor or try to sell the home on your own. Both have their advantages and disadvantages, so it’s a good place to start.
Obviously, realtors are the easier choice in the matter. They bear the brunt of selling a property and all that it entails. With realtors, you don’t have to worry about negotiations, marketing, or most of the legal matters. However, they’ll take a hefty fee for their services. It’s, by far, the most expensive option.
When a property is for sale by the owner (FSBO) you accept all the responsibilities of selling your home. That means it’s up to you to ensure all the legal matters are taken care of, advertise your property, and finally close the deal with the buyers (and at a reasonable price). Oftentimes, people try to save money by foregoing real estate agents, only to end up undervaluing their own homes and losing more than they would if they simply hired an agent. Don’t make the same mistake!
When you look at your choices that way, realtors seem like the easier, but more expensive option. That is if you can sell your home at the right price. FSBO takes more skill and better preparation but is entirely possible.
If you’re the kind of person to go with the easier choice, look into other options available to you. Realtors aren’t the only people willing to help you for a cut. Real estate wholesalers and investors are worth looking into. But more lucrative than all are companies that cut all the middlemen and work directly with the seller. You have plenty of options if you don’t want to sell your home on your own — don’t hire the first realtor that gives you a call.
Researching the Market
If you decided to go with a realtor, you probably stopped reading by now since the process is out of your hands. If not, it’s time to equip yourself with knowledge and all the information you need to make a sale better than any agent would.
First, you need to determine the value of your home. About 56% of the US homeowners estimated the price of their property based on comps. Comps are properties similar to the one you’re selling. That means the same kind of neighborhood, size, and condition.
Take a look at recently sold homes that are similar to yours. It’s actually a fairly reliable method of appraising your property’s price. But you have to be very careful not to compare apples and oranges. Make sure that you’re comparing properties that are really similar to yours. Otherwise, you might be in for an unpleasant surprise.
Stay realistic, don’t compare your home to one that’s in a much more lucrative area, and you might be able to work out a decent price for your property.
There are also online evaluation tools that you can use to work out the value of your home.
Attending Open Houses
Yes, you’ll have to host open houses of your own to get the prospective buyers to check your property out. But that’s not what we’re talking about right now.
We’re suggesting you scout out other people’s open houses and see what’s what. It’s an excellent way of learning what the hot interior and exterior designs are right now. It’s also the perfect place to pick up on some sales pitches and learn how to upsell your home like a pro. Pay attention to what the agent is saying, how they’re saying it, and what to focus on.
All that knowledge will come in handy when the time comes for you to sell your property. And you can always hear what real buyers are saying and gauge the average person’s wants and needs.
Marketing Your Home
A “For Sale” sign is far from being a sufficient advertisement method. Not enough people are going to see it, and probably not the right kind of people (your neighbors are unlikely to want another home on the same street).
Luckily, you don’t need a degree in marketing to get the word out. There are enough websites now that perform all the marketing you need for you. And more often than not, it’s completely free or you’ll have to pay a nominal fee. Don’t buy into all the fearmongering by realtors, claiming you’ll have to spend thousands of dollars marketing your pad. It’s just a scare tactic that has little basis in reality.
You’ll need to provide plenty of photos and descriptions of your home. Make your property as appealing as it can possibly be, show all angles, and you’ll have callers in no time.
Now we come to the part that’ll cost you some. The property you’re selling needs to be in top shape. Either invest in all the necessary repairs or be prepared for very hard negotiations.
This is where scouting open houses will come in handy. Repairs on the interior and the exterior of your home are the perfect opportunities to make better decor choices and increase the curb appeal of the property.
More than anything, fix everything that could potentially harm your otherwise pristine housing. It’s worth a bit of hassle in the long run.
Be Patient, But Not Too Much
It takes patience to sell a home at the price you want. You’ll get all sorts of buyers and you’ll need to be an excellent negotiator. That means being pliable, but not too much. Think about how much ground you’re willing to give even before the negotiation begins, and then stay true to your goals.
Some weeks, it will be so quiet you’ll be wondering if you made a mistake trying to sell the home on your own. But you need to remain patient — someone will come asking about the property. However, keep in mind that the longer the property is on the market, the more likely it is to devalue. Don’t let that happen —have a plan B. Websites that purchase homes directly from sellers by cutting out middlemen are the way to go.
To Sum Up
If you decide to forego realtors and wholesalers, you’ll need to put in the time and effort to make the sale. However, it’s going to be very much worth it in the end. The goal of this guide was to point you in the right direction. Now, it’s up to you to pick up where we left off.