How Do I Sell My House?
How do I sell my house?
Have you ever sold your home before or is this your first time? There was a time when I had to ask myself the same question you have today. How do I sell my house? If you’ve sold a personal house before you know it can be confusing, frustrating, and discouraging. There is definitely more than one way to sell your home and to be completely honest the method you should use is completely up to why you are trying to sell it. But in the end, it’s all up to your personal choice. Here are a few common ways to sell your home.
For sale by owner (FSBO)
The most hands-on approach to selling your home is trying to sell it yourself. Trying to sell your home can be time consuming and over all difficult, but it doesn’t stop people from trying to anyways. You can sell your home successfully with this method if you spend enough time and money to do it right.
- The first thing you need to do is price out your home. You’ll need to go online and find an average price for houses in your area with the same features such as square footage and number of bedrooms to bathrooms. Just remember to make the price competitive. Another thing to consider is that most home owners are looking for a home they can easily move into without having to make any major modifications to the house, so if there are things needing repair you’ll have to lower the price a little or repair it.
- The next thing you will need to do is start marketing. There are plenty of ways to get your advertisement into the eyes of potential buyers. Some of the most common ways are options like online postings, yard signs, open houses, and social networking sites. For the best possible outcome, I recommend marketing in several different ways so you can be seen by more people. Here are some FSBO statistics I found along with more useful stats. https://www.nar.realtor/quick-real-estate-statistics
- The last thing you need to take care of is contracts and negotiations. There is usually a standard contract already made for your state or area, and I would recommend familiarizing yourself with it and finding an attorney to help explain and maybe change the contract to your liking. When you negotiate with a buyer you will give them a copy of your contract and explain each part of it to them as well as show the desired price. The contract and price can be changed by the buyer as an offer until you both agree upon the price and contract. I would never sign anything without showing it to your attorney first to make sure there is nothing hidden in the contract you might not like, and to make sure it all complies with your local law.
Realtors
Working with a realtor or real estate broker can be much easier and less time consuming than trying to sell your home yourself. A realtor is a person who acts as an agent for the sale and purchase of buildings and land; a real estate agent. Since a realtor’s job is to work so closely with houses, they have the knowledge needed to sell your home easier than if you tried to learn how to do it yourself. A licensed realtor has access to the MLS or the Multiple Listing Service which is a marketing database set up by a group of cooperating real estate brokers with the purpose to provide accurate and structured data about properties for sale. They can help pull information from the MLS on houses to help you determine the price for your home which can be far more accurate than your own search. They will also post your home on the MLS so that other agents can see it and present it to buyers. The way realtors get paid is different from most jobs however. Realtors or Brokers get paid from a set percentage of the commission off your house. Each realtor can set up what percentage they get in a contract. The average commission a realtor will ask for is 6%. If you want to find a realtor with a higher or lower commission is completely up to you.
Investors
Another way to sell your home is through an investor. Real estate Investors are one of the easiest groups of people to work with if you need help to sell your house. Most experienced real estate investors aren’t looking to find someone to buy your home, but are looking to buy your home directly from you. However, if they are uninterested in your property they usually know another investor who is. The great thing about investors is that they can buy your house from you quickly in “as is” condition. Meaning you don’t have to change a thing about the house to sell it to them. Because they close quickly they can also help people going through tough situations such as foreclosure, probate, or quick relocating to name a few. To find a real estate investor it shouldn’t be hard to look for the advertisements they are always posting everywhere. Social media, bandit signs, mail, even billboards.
Last Words
As you can see it can be difficult or very easy to sell your home depending on your situation and preference. FSBO might be the way for you if you like control of the entire situation, but just remember it is very time consuming. For people who need help and would like to oversee that it gets done correctly but don’t have the time, they can work with a Realtor or Broker. Working with a realtor can still take a lot of time and you very well may need to make repairs or touch ups on your home before selling it. The fastest easiest way to sell your home if you are in a hurry or don’t want the trouble of selling it, is finding a real estate investor who can purchase your home quickly and close in a short time. In the end I recommend that any method you choose should be done alongside an attorney that is well versed in your local real estate laws. I hope that this article helped you discover the most efficient possible way for you to sell your home and wish you good luck on all your future life adventures.
Iron Oak Renovations
Psst! Curious about investors in OKC? Try visiting our home page at http://www.ironoakrenovations.com/