How to Sell Your Own Home - 4 Tips You NEED To Know!
How to Sell Your Own Home!
Are you thinking of selling your house and want to try to do it on your own? In this episode of Live2Give, I’m going to show you four things to consider when selling property on your own. While shows on HGTV make real estate look fun and easy, this is the information you need to know before you list your home.
Tip #1: Seller’s Property Disclosure
Like many of you, HGTV is one of my favorite channels. They make real estate look fun and easy. Since we’re in a strong seller's market, more people than ever are considering putting their property on the market solo. But before you do, these tips will help.
The first thing you need to do is fill out a seller's property disclosure. I know it's a pain in the neck to fill out this seven-page document, but it protects you from lawsuits and decreases the likelihood that a transaction will fall apart after the inspections are done. Florida law also says that buyers have a right to receive one.
Tip #2: Marketing
The second thing you need to do is think about your marketing. Most for sale by owners take pictures of their home with their cell phones. Don't do that. Invest in a professional photoshoot because everything marketing starts with amazing photography. This is what gets buyers interested.
Additionally, most for sale by owners put their property on Zillow, and some pay a flat fee to also get it on the MLS. While this is a good start, did you know that there are over 2,000 highly visible, reputable websites scattered throughout the world? Do some research and see if you can get on some of those.
You should also consider having a lifestyle video using Alexa to sell your home, have a floor plan created, a 3D dollhouse plan created, have aerials taken, and create a buyer resource guide with a detailed feature list so buyers can remember what makes your house so special. You’ll also want to do print ads, online ads, and direct mail pieces. There are only two reasons any property in any condition in any market sells: it’s priced properly and has extensive exposure.
Tip #3: Negotiations
Once you have an interested buyer as a for sale by owner, you're going to be negotiating directly. Be as objective and data-focused as you can be. The moment you listed your property and put it on the market, it became an asset to liquidate. Detach from it emotionally, or you're going to make mistakes.
Tip #4: Lending
Before you sign off on any contract, make sure that the buyer has submitted a pre-approval letter or proof of funds. As agents, we're allowed to call the buyer's lender to check in on details. Ask the buyer if you can do the same, and then continually check in with the lender and the closing agent until closing.
Between repair negotiations and closing is where a lot of transactions fall apart. So, keep your eye on the ball.
I hope you found these four tips helpful. If you have any questions about the selling process, don't hesitate to give me a call. You can also subscribe to my channel so you never miss an episode of Live2Give. Stay tuned for more real estate tips!
