More homeowners are now opting to sell their homes privately. This essentially refers to the process of bypassing a real estate agent or broker and dealing directly with a prospective buyer. One of the main reasons homeowners opt to sell privately is to avoid the costs associated with agents’ or brokers’ fees (among others). A recent study reveals these fees can run as high as 2% of the selling price of the home. In this post, we’ll discuss the basics of selling your home privately and whether it’s the right strategy for you.
The Selling Price
Many homeowners rely on real estate agents to determine the selling price of their home. In many cases, this is the right approach given their extensive experience. But the home’s selling price is also something the homeowner can set themselves. There are free online tools that a seller can leverage to determine the selling price of their home. These include sites like Zillow, Rightmove, Trulia, and Zoopla among others. These tools give the seller a panoramic view of the often-common disparity between a vendor’s asking price and what a property actually sells for.
Stage your home
One thing homeowners looking to sell their homes privately soon find out is that time is money. In order to sell a home as quickly as possible, the home has to be staged. This may mean a fresh lick of paint or replacing the floor décor, landscaping or even new kitchen cabinets. This can go a long way in making the house a little more “sellable”. Staging your home also means you spend more time with showings and less worrying when the home will sell!
Selling your home privately is now easier than ever thanks to new technology. This includes social media, classified sites like Craigslist, OLX, and Kijiji. Others include community-based sites like Nextdoor and OfferUp all of which are free to use and have a wide reach. Research shows advertising your home in these sites diametrically