Sell Your Own Home and Reap the Rewards
Selling your own home is one of the biggest endeavors you can make. But, let’s face it—it can also be one of the most daunting, challenging, and confusing experiences. Despite that, some choose to go the “for sale by owner” or FSBO (“FIZZ-boh”) route. According to the National Association of Realtors, 8% of home sales in 2019 were FSBO. While that number is low, it could become more common thanks to the rise of homeowner assistance websites like Sold.com. With so many questions, steps, and information, the process can be overwhelming. So, before you decide to sell your own home, take a deep breath, exhale, and read on to learn if this route is right for you.
The Pros of Selling Your Own Home
The upside of using a real estate agent means they handle the heavy lifting: setting a price, preparing the home for sale (staging, listing, and marketing), facilitating open houses and negotiations, and handling the closing process. If those tasks fill you with dread, you may want to reconsider going D.I.Y. If not, then channel your inner realtor and learn the pros of selling your own home.
- No fees: No surprise, the number one reason homeowners go FSBO is to save on the real estate commission fees (2%-3% of the sale price). And since sellers usually pay the buyer agent’s commission, too, why not cut that cost in half? While a great realtor is worth his/her weight in gold, those fees can really take a dent out of your home sale’s profit (i.e., your pocket!).
- Control: Selling your own home means you’re in command. Only you decide on the price you want, how you communicate with potential buyers, and how and where you market your home.
- Knowledge: Your knowledge is priceless! A realtor can’t possibly know your home as well as you do. While you shouldn’t let emotions dictate the process, your connection to your home makes you the expert and can be a true asset in selling your home.
- Attention: Even the best real estate agents (in fact, especially the best real estate agents) have other clients; there’s only so much time they can devote to your property. It’s a lot of work to sell your home, but if you have the time, it’s a huge advantage.
Steps to Selling Your Own Home
Now that you’ve made the decision to sell your own home, it’s time to take charge! Before you roll up your sleeves and get to work, keep these important first steps in mind as you go down the FSBO road.
- Prepare your house for the sale. Run a comprehensive decluttering campaign, and remove personal items (e.g., photographs, tchotchkes, etc.) This is a great excuse to “Marie Kondo” your home and sell or donate things you no longer need. Tackle any necessary repairs or updates, including the landscape and curb appeal.
- Clean like the sale depends on it because it does! You may want to hire professional cleaners. You’ve got enough on your plate, and the time it saves will be well worth the money.
- Run a mock open house with friends who will give you their honest first impressions of your home, from the furniture layout to your presentation techniques. Be fearless and flexible.
- Research the market and recent sales of comparable homes in your area to set an objective price for your home (and we do mean objective!). Just because you love your home and think it’s worth a million doesn’t mean it actually is.
- Create your listing, and include home data (year built, square footage, bedroom & bathroom count, etc.), photos (look to websites such as HGTV or Zillow for guidance), and a description that’s a mix of factual information and sales copy that grabs a buyer’s attention. Keep it short, sweet, and engaging.
Even if you go the FSBO route, you’ll need to hire professionals for the closing process, such as real estate attorneys and escrow agents. Sales contracts, deeds, and titles are just a few of the many required forms. Don’t be a hero on this one! The amount of paperwork and documents, along with the federal and state laws (which can vary by state), are too unwieldy to do without trained experts. And don’t forget to educate yourself on some of the basic real estate terms and vocabulary.
Using SOLD.com to Sell Your Home
Just because you’re selling your home doesn’t mean you have to do it alone. SOLD.com is a robust, valuable website of tools, information, and professional advice to support you through the entire home selling process. Founded by real estate and technology veterans, SOLD.com is the first-ever educational resource and comparison engine to empower home sellers. It saves you time, reduces stress, and gives you everything you need to sell your home and have a positive selling experience. As their website states:
“We believe in putting our customers’ needs first. There’s no pay to play with SOLD.com. Every recommendation is based on what is best for the homeowner.”
Because the housing market is constantly changing, it’s important to stay up-to-date with the latest information from a free, trusted, unbiased resource like SOLD.com. The convenience of having so many resources in one place is what makes it so valuable. Selling your home by yourself saves you money and can give you an incredible sense of accomplishment. But if you need guidance, SOLD.com is here to help.
How SOLD.com Works
SOLD.com makes it easy to compare and choose the best way to sell or buy your house in three simple steps:
- You answer a simple questionnaire on their website
- Based on the information you give them, they generate local market recommendations to best accomplish your goals
- Get in-depth information about local market trends, your home value, or the companies you are considering working with
Why use SOLD.com to Sell or Buy Your House
The process of finding the best option for you to sell or buy your house, depending on what you would like to accomplish (i.e., sell fast, buy cheap, sell for more, etc.), can be daunting. SOLD.com can help you to:
- Save Time: They can provide you with the best options in seconds
- Save Money: Get matched with businesses that sell for more and buy for less
- Make a Choice: Pick the right expert to sell or buy your house
Get started with selling your house today with SOLD.com.
