Across the country, more and more homeowners are opting to sell their homes themselves instead of working with a realtor or real estate agent to help them sell their homes.
Why? One of the biggest reasons is demand: many homeowners think they can find a buyer without the help of an agent or broker taking a percentage of the sale. The typical 6% commission alone is a big incentive for many to try and sell their home themselves.
Tips for Homeowners Wanting to Sell Their Home on their Own
1. Owners Must Know Their Market – Study the Neighborhood and Avoid Getting Emotional
Real estate agents and brokers are presumed to know their neighborhoods and communities, as many of them have worked in these locations for years. By undertaking the sale of the home yourself, you must undertake the work that these professionals would have done for you. This means that you will need to study the market in your area, learn the pros and cons of your property, like the location and quality of schools and medical professionals, and then determine a sales price that is reasonable for the area. This can be hard to do if you can’t set your emotions aside, like being sad that you’re selling the family home or being angry that you’re not going to be able to sell it for the same amount that you would have been able to sell it for in years past.
2. Owners Must Get Their Home Ready to Sell
An inspection will be part of any sale (or at least it should be); however, just getting the home ready to sell means more than dealing with those items that an inspector will point out. Landscaping the front yard for a good first impression is important. Paint should be touched up; carpets should be cleaned, lightbulbs replaced, toilets fixed. The garage and your closets should be organized, you get the idea. A homeowner has a lot to do, even when there is a real estate agent involved in the process.
3. Owners Must Do Their Marketing, Showings, And Negotiations
Real estate agents have lots of techniques to market properties to potential buyers. By opting to sell a home without a real estate agent’s help, the owner will have to advertise and market the property, answer inquiries and questions, negotiate and show the property to real estate agents and prospective buyers. In the old days, a “for sale by owner” may miss out on access to the multi-listing service (MLS) used by nearly all real estate agents. But thanks to beycome’s technology, our flat-fee MLS service syndicates your beycome™️ listing with the MLS and other major listing sites such as Zillow, Trulia, Realtor.com, and more.
4. Owners Must Deal With The Title Company, Inspector, Surveyor, and Property Appraiser
In the sale of real estate, many professionals are involved in the sales and closing process: title companies and title insurance come into play; inspectors, surveyors, and appraisers must have access to the property. Omitting the real estate agent does not forget the scheduling issues for other professionals involved in the transaction. Cutting out the real estate agent means the owner has to do the mundane and time-consuming work that the agent would have otherwise undertaken.
5. Lawyers, Contracts, Disclosures, And More
When an agent isn’t in the loop, a real estate attorney is usually called upon for help with issues like the preparation of the Purchase and Sales Contract, preparing the Seller Disclosure form, confirming the receipt of the earnest money deposit by the escrow agent, getting a copy of the buyer’s mortgage loan commitment, timely delivering the condo docs to the buyer, etc. We have an article detailing the documents you’ll need to sell your home.
What Should You Do?
A good piece of advice to sell your home on your own is to speak with an experienced beycome™️ representative.
If you are considering selling your home on your own, reach out. We can show you how to sell your house without realtor fees.
For information on selling a home without an agent or how to sell a house with beycome™️, give us a call today a(804) 656-5007 📞
beycome™️ is a listing service that is disrupting residential real estate by helping people buy or sell a home without needing a real estate agent. The technology behind the beycome™️ platform brings buyers and sellers together, providing the tools and resources to empower people to be their best DIY agents. The platform offers buyers up to 2/3 cashback commission on their purchase and allows sellers to list their properties for a flat-fee, saving them up to 6% in commissions.
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