Selling Your Own Home Without An Agent

As in all things, selling your own home without an agent has its particular set of advantages and disadvantages. If you have experienced the process of buying and selling your home in the past, then you know what real estate agents do.

Selling your home is not as difficult as real estate agents paint them out for you. By using some simple FSBO (for sale by owner) tips and techniques, you can sell your own home on your own. In the process, you save a handful in commissions.

It is a given that real estate agents are experts, but their commission charges are not exactly cheap. Nowadays, listing your home on a web site allows you to quickly connect with thousands of buyers. Of course, you still have work to do.

Some Tips

First on the list is assembling your experts for their advice. Their help still comes out cheaper, and some might be free if they are friends. The experience shall also be a good education because this is not the only time you will transfer houses in your lifetime.

The first work (and the most critical) is to determine the fair market price of your home. Have an agent or a broker provide you with a CMA (comparative marketing analysis).

A full-blown appraisal done by a professional real estate appraiser is best and more accurate. This is to get the nearest accurate selling price, from which you can set your most reasonable asking price.

You will need help from a real estate attorney or a title escrow company for the legal details. Another one is a reputable mortgage banker/lender to help you in pre-qualifying buyer-prospects. These guys are indispensable partners in the home selling process.

If you need to sell right away, you will have a tight flexibility. But, if you are not in a hurry, you can sit back and wait for the right time. Real estate business is cyclical.

Next is preparing your house by having it cleaned, broken things fixed, and unneeded stuff expelled. (A garage sale is good.) Arrange the inside from the perspective of the buyer. (Check out magazines or have someone professional do it for you.)

Afterwards, list your home in newspapers, magazines and online listings available. The more people who will take a look at your home, the better are your chances.

In the actual negotiations, be pleasant and good-mannered but stick to your figures by making sure they are correct. You will be flexible enough because you are confident of your figures.

In selling your own home without an agent, the only two major criteria to be careful with is preparing your home (appraisal, home staging and listing) and dealing with your buyers. The first time could be hectic but fun, and in time you will be very good at it.