How to Sell My House Direct

Selling a house directly is difficult but can save you the money that would otherwise be used to compensate a Realtor.

Most people are used to buying and selling a home with the help of a real estate agent or broker. However, real estate can be sold directly by its owner, and without an agent involved the owner could pocket the typical 4 to 6 percent commission that most property owners pay to real estate professionals. The challenge that homeowners face when selling a property on their own is marketing the property and getting the attention of interested buyers. There are several ideas and techniques that can make selling a home directly much easier.

Instructions

1. Price your home to sell. Overpricing your home will cause it to sit on the market for too long, giving buyers more negotiating power. Underpricing your home can cost you thousands. Research the prices comparable homes in your neighborhood are selling for and even consider paying for a third-party appraisal. The third-party appraisal will be helpful when working with buyers since there will be no Realtor involved in the transaction to comment on pricing.

2. Advertise your home for sale. There are dozens of ways to advertise. Start by taking out inexpensive newspaper advertisements and list your home on free online classified services. Tell all of your friends and family that your home is for sale and consider putting up flyers and yard signs.

3. Get a "For Sale By Owner" listing on the Multiple Listing Service (MLS). Most homebuyers look online for properties. When you list with a Realtor, she enters your home in the MLS database so potential buyers can locate it. Hire an MLS service that specializes in helping owners who are selling their homes directly. Be warned that some buyers coming to you from MLS may already have a buyers agent (a Realtor who is expecting a commission for helping a buyer). Examples of MLS systems for individuals selling their homes directly include FSBO.com and ForSalebyOwner.com.

4. Clean, stage and prepare the home for sale. The carpets, windows and lawn should all be clean and the furnishings in the house should make it feel like a home. If you are trying to sell an empty home there are professional staging services that can bring in furniture and artwork to make the home feel more lived in and inviting.

5. Have a title company handle the actual sale once you've made a deal. Title companies help buyers and sellers of real estate complete paperwork and transfer legal ownership (deed) of the property from one party to the other.

Tips & Warnings

• Homes that are offered for sale directly by the owner are referred to as "for sale by owner," or FSBO, for short.

• Consider setting a deadline for selling your home on your own. If you don't meet that deadline, consider hiring a Realtor to help market the property.

References

• CNBC: "How to sell a home without a realtor"

Resources

• Read this Article in Spanish
• Fosalebyowner.com