Selling a house can cost you money. From repairs to actual closing; the process can cost you thousands of dollars. Among these expenses, real estate commissions could make up to 6% of the sales price. That means, for a median-priced house in Connecticut ($260,800), you will pay around $14,808 in commissions. For most homeowners, it is a lot of money and saving $14k seems like a good idea to choose for sale by owner.
Statistics from NAR shows that only 8% sellers choose FSBO method. However, these numbers do not show the use of flat-fee MLS and hiring realtors for limited services. A survey done by Redfin in Aug 2016 indicates that selling real estate by owner is a trendy choice. The survey concludes that 25% people have listed their homes without the help of a full-service broker in the past year.
These 25% accounts for people that used a limited service, those that decided to go without a realtor and a hand full that agreed to sell to cash buyers. The survey shows different results when compared to the statistics issued by NAR.
The internet has empowered today’s sellers. You have information available at your fingertips. Furthermore, there are customized marketing plans and MLS service packages that can help you sell your house. Let’s see what else can do you do to sell your home by owner in Connecticut.
Have you ever sold a house before? If not, get ready to accept the new challenge. Learn the art of negotiation. Be prepared to show your home at any time of the day. From day 1 to closing, you will manage every detail of the process. So, make sure that you have the time & knowledge to handle this transaction.
Do you know you can recoup 80%-100% of the money you spend on painting a house?
Yes, painting is one of the home improvement projects with an ROI close to 100%. Other projects include landscaping, curb appeal improvement, steel gate replacement, minor kitchen, and bath remodeling.
Paint your property in a neutral shade. Use a color tone that can brighten your house. The right shade opens up visual space in a home, and it seems more inviting to potential buyers.
You need to evacuate your house. Get ready to move and pack your stuff even if you are living in that house. Remove personal possessions and family photos. It is also a good idea to take away your pets at the time of showing.
You do not have to hire a professional stager to decorate your house. Take inspiration from Pinterest and YouTube. There are various designs and ideas to help you out.
Right price matters. In an agent-assisted sale, the agent helps you price your house. However, now you must take over the job. You can hire a professional appraiser to get an estimate of the home price. Look at other homes in the market. Visit other open homes and see how competitively these properties are priced. You can also use online tools, but their estimates are not always correct.
Internet marketing brings impressive results without spending thousands of dollars. Independent sellers can take benefit of online tools. Use Craigslist, Facebook, and Twitter for the free advertising of your house.
Realflyer is another service that can make your real estate flyer for $0.32/piece. Print your promotional material and launch your marketing campaign in no time at a fraction of the cost. At the same time, owners.com can publish your free listing for 30 days. The same website can promote your listing on Zillow and Trulia with a paid subscription. You can also use flat fee MLS services to list your house on MLS for a small fee. These sites such as owners.com also offer the services of a full-service agent at 1.5% commission. So, if at any point of the transaction, you need professional assistance, you can call a realtor to help you out without spending a hefty amount.
Yard sign is an essential component of any home selling campaign. It is an inexpensive yet handy marketing tool. You can order one for $30-$100. Place yard signs on the closest road and near to your house. Taking care of this signage helps people in finding your house and makes sure that you are also using offline advertising tools.
Selling your home requires legal knowledge and expertise. At the closing, consider hiring a real estate attorney. An expert lawyer can help you sort out contracts, qualify offers, and close the deal without any hurdle.
If some of these steps seem overwhelming our you don’t want to or have the time to spend, you could consider selling your home to a cash buyer. Finding a credible cash buyer may be the alternative that better fits your needs.
A cash buyer is someone who uses his own money to purchase your property. A cash purchaser will buy your house as-is thus you do not have to pay for major property repairs. Since a cash buyer invests his own money, he can purchase your property in a short time frame that saves your money spent on holding costs, maintenance, or HOA fees.
Click here to find a reputable cash buyer in your area.
Photo by MarkMoz via Flickr Under CC 2.0