Tips for Selling Your Home Without a Realtor

Many people choose to handle the sale of their home without hiring a realtor. The primary driver behind this decision is cost savings, as circumventing a selling agent’s commission can save thousands of dollars.

However, selling by owner comes with a lot of extra work and hidden costs. Here are some helpful tips if you decide to sell your home without a realtor.

Perfect Your Market Research

One benefit of experienced realtors is that they know the market and can help you price your home competitively. The right price is essential for getting the best possible return on investment, attracting buyers, and stimulating a bidding war in a sellers’ market. Set the price too high, and you won’t get any interest. Set the price too low, and you’ll lose out on potential dollars.

The three best places to look when pricing your home include recently sold homes in your neighborhood, current active listing, and resources like Zillow. Consider how much you owe on your house and account for other closing costs as well.

Prepare Your Home

If you want to sell your home, you need to present it in the best possible light, which means reducing clutter and deep cleaning everything. Take some time to touch up the paint and trim and convert your walls to neutral colors. Remove extra furniture and put it in storage for a cleaner space that looks bigger and more welcoming.

When selling your home, you need to make it look impersonal so a potential buyer can see themselves there. To do so, it’s worth spending some extra time and money on prep.

Know When to Outsource

Just because you’ve chosen to go forward without an agent doesn’t mean you have to handle everything alone. Other professionals can help you get the job done.

For example, if you’re a property investor or busy with your career, you can hire a virtual assistant to handle questions, social media posting, and scheduling. You may choose to hire a professional stager to make your home more appealing. Other specialists worth considering include professional cleaners and real estate photographers.

Even if you decide not to use an agent, you can sometimes hire a broker as a consultant to help choose the right pricing strategy for your home. You’ll also require a real estate attorney to navigate the closing.

Market Like a Boss

Modern real estate sales are all about marketing skills. You want to sell your home like you’re selling a product. This means having high-quality photos, a social media marketing strategy, and your best customer service tone.

When using social media, consider doing a pre-launch sneak peek on a Monday, followed by an official listing on a Friday. Make your posts public and shareable with all the pertinent details about the property in the post. Encourage your network to share the listing and be proactive in answering questions and moderating comments.

Be Patient and Logical with Offers

Another benefit of working with a real estate agent is having someone to help you navigate offers and highlight various considerations. Don’t jump at the first offer if it’s not what you’re looking for. You can always go back with a counteroffer and negotiate. You aren’t obligated to respond to an insultingly low offer or try to negotiate with people who low-ball you.

When reviewing offers, look at the finer details beyond the monetary value. You want to ensure that the person making the offer is pre-qualified and has the financing to follow through. Watch out for contingencies that could delay the sale, such as the buyer having to sell their home first.

There are many pros and cons to selling your home without a realtor. Take time to understand the nuances of the sales process to ensure you’re adequately prepared for the work ahead.