Tag: How To Sell My House

Breaking Down The Process For You You have the right to represent and to sell your own home in today’s market There is a stigma in existence which suggests that in order to sell your home you need to use a real estate agent.  This just isn’t true. The fact is, you’re permitted not only to list your home for sale, but you’re permitted to negotiate its terms, demand the highest offer price possible, and to get the best terms possible for yourself and/or your family. At no point do you NEED a real estate agent even though the vast majority of home buyers have a real estate agent representing them on their side of the transaction, which is an important thing for you to note, you’re not going to be negotiating with a “buyer,” you’re going to be negotiating with a buyer’s agent.  A big difference that we will discuss later in this blog. Let’s Get The Ugly Out Of The Way The majority of For Sale By Owners believe THIS about Buyer’s Agents The road of real estate is a winding and twisting road, one which looks like a straight line from start to finish, but that is far from reality.  Why?  One major factor is the role of a real estate agent when interacting with a For Sale By Owner.  Enter the misconception.   Real estate agents, specifically those who bring a buyer are most likely, if not definitely representing that buyer, and therefore, has the responsibility to look out for the best interests and terms for their buyers.  Here in New York, a buyer’s agent does have to legally disclose this via the Agency Disclosure form to a For Sale By Owner upon first substantive contact, so at least you will know right away that agent’s position. But even with this disclosure in place (and, sadly, during the times when a bad agent fails to disclose this), homeowners tend to believe that the buyer’s agent will handle everything and take the deal to the closing, if just so that the agent will earn a commission, but this is not necessarily the case. For Sale By Owners will put their trust in an agent who represents and protects the buyers specifically.  This is a terrible position for the For Sale By Owner, a position of which a For Sale By Owner should never find themselves in, which will make buyers very, very happy. It is your responsibility as a For Sale By Owner to be prepared to follow the next steps of each part of a real estate transaction without having to refer to a real estate agent.  This is the path you chose and you have to be able to walk it.   You may request the guidance of an attorney.  This attorney will charge for their work but may or may not have the answers or advice that you’re looking for.  The main purpose of an attorney is to protect you legally, they are not oftentimes utilized to negotiate terms or even pricing for you, especially since they will likely be communicating with the buyer’s attorney.  Their conversations will generally be legal conversations. Marketing Your Home To Buyers Despite everything, you have a job to do, and you’re going to do it So now you’ve taken a major step in your life in deciding to list your home for sale!  Very few people decide to do this on their own for a number of reasons, but you’re going to go against the grain and get the job done, By Owner! One of the greatest advantages of having a real estate agent is their marketing expertise and their ability to broadcast your property not only to the greatest number of buyers in the area, but to all of the real estate agents who have buyers in the area. Since you don’t have the luxury of having that capability, it’s now up to you to provide your own marketing and advertising of your home. Here are some tips, tricks, and things to look out for when it comes to broadcasting your own home.  And if you feel that it’s too overwhelming, or, feel as though an agent is the right answer for you, CLICK HERE to check our “Learn More About Selling” page where you can reach out to us and we can help you! Here are some best practices to sell your home: Pay for professional pictures of your home(Do not use your cell phone, that can be detrimental) Create professional flyers for your home(Give these to prospective buyers) Create a professional website for your home(This will give people on social info on your property) Create a compelling description of your home(AI can help with this, but this is important) Make sure your home is completely decluttered(Clutter can literally make or break an offer) Make sure your home’s curb appeal is maximized(It’s the first impression people will get of your home) Post your advertisements on Social Media(Keep an eye, there are lots of “nay-sayers” on there) Post your home on Zillow’s website(Limited to “For Sale By Owner” section only) Have a schedule when you can show your home(Make this as open as possible, not everyone is 9-5) Prepare your home for Open Houses(2 hours is sufficient, anything longer is not good) Have a way to be contacted(Your main cell phone isn’t recommended) These are just a few of the responsibilities you’ll be taking on when advertising your home for sale but if you factor in how much money you can save by doing this yourself, it may all be worth it in the end. The Position Of The Buyer’s Agent The buyer’s agent will be protecting their clients, not you Buyer’s agents have an obligation to their buyers and will show them houses despite whether or not agents list them or are promising any type of commissions. For starters, even after showing your home, the buyer’s agent will still continue to show other homes to their buyers. 

Step One:The Starting Line It all starts at the beginning, a strong start will mean everything. It can’t be stressed enough: Make Sure You’re Ready To Sell Your Home! Having your plan(s) up to date and ready is one of the most significant aspects of home selling. Usually, an agent will help you with the logistics of your next move, locating many new on-market and/or off-market listings, office-exclusive listings, access to homes/rentals across the country, etc.  Since you won’t have access to that, you can rely on Zillow, Trulia, etc. You will need a place to move to once your home is sold, and buyers may not be able to wait extended periods for an unrepresented home seller to secure their next place, especially since the buyers know you’re doing it alone. If you struggle with this, it could be an excellent time to speak with a YourHomeYourTerms.com agent. Step Two:Preparing Your Home Preparation is not only key, it’s the master key to selling. One great way to prepare your home for sale is to use the homes around you as an example.  For instance, you can check Zillow for homes in your area and see how they are staged and photographed.   You’ll notice a variety of “styles.”  Some homes are meticulously staged with beautiful photographs; this is important since all buyers will look at images provided of a home for sale before making an appointment. You may also see some homes that look poorly photographed, staged, and cluttered.  These homes are not your competition, even if they match your home in every way.  Why are they not your competition?  Because humans are visual.  If you stage and photograph your home better than others like yours, your home will enjoy a positive benefit, which will far increase the likelihood of your getting top-dollar offers.  Make sure your home always smells nice and fresh.  Avoid using “cover-ups” to mask odors.  Open windows and do a cleaning.  Remember, we’re dealing with human beings, and they will judge.   Check the exterior of your home and make sure the “curb appeal” is maximized.  If you have to pay for a landscaper, do it.   YourHomeYourTerms.com agents have access to a massive list of professional resources that can be shared with you for your benefit, including attorneys, landscapers, plumbers, and handypeople.   Step Three:Showing & Promoting Now it’s “Go Time!” Listing your home on the market and looking for results This is it! The moment of truth: You’re listing your home for sale publicly! It’s an exciting time that can benefit you and your bank account. SHOWING YOUR HOME: Have a system in place to organize times and days for buyers to come visit and tour your home.  Have a set of times for each day of the week that would be convenient for buyers, such as “6pm-8:30pm Mon-Fri” and have weekends be open and flexible.  Remember, buyers work too and they can’t always make it during normal business hours. Make sure that you’ve got plenty of flyers handy for buyers who come visit your home.  Additionally, you will want to plan a “tour route,” which should begin at the front of the house and take them through to the back of the house and through the backyard.  Ideally, the buyers should leave through the backyard, but always ask if they would like to re-enter to view any of the property one more time.  If they do, that’s a good sign. You also want to make sure that the home looks the same in person as it does in the pictures you took.  No one likes being “deceived” by pictures, so if the house looks neat in pictures, then make sure it is when you show it. PROMOTING YOUR HOME: An Attractive Lawn SignFlyers Of Your HomeFlyers For Nearby BusinessesA Website Of Your HomeA Business Social Media Account Of Your HomeA Method To OrganizeAn Open House Sign-In SheetA Separate Phone Number For Buyer Inquiries/CallsList Your Home On Zillow Do not “cheap out” on these and do not cut any corners.  Competing homes around yours have professional agents working for them, so when a buyer visits your home for sale you will need to make sure yours looks as polished and prepared as the professional agents do. Unfortunately, Zillow reserves “For Sale By Owners” to what feels like the “rear” of their website, pushing agent-listed homes to the front of the website. This can come at a significant disadvantage to homeowners, so you must utilize your social media accounts through local group pages and pay-for advertising by creating a business page of your home as your bread and butter for marketing your home digitally. CLICK THIS LINK HERE TO SEE WHAT WE DO TO PROMOTE THE HOMES WE LIST FOR SALE. FEEL FREE TO COPY THESE IDEAS FOR YOURSELF. Step Four:Representing Yourself This is where you prepare to negotiate with buyers and/or agents So you’re now doing everything you can to promote your home without the assistance of a trained professional, and things are seemingly going well.  You’ve got a lot of attention on your home, your phone is set to ring, your advertising is set and ready to go. SELLING YOUR HOME: Having an additional “throwaway phone number” is a good idea since you’ll be getting a lot of calls from people you don’t know, so invest in a prepaid cell phone for your protection.   Let’s say you find a buyer who is interested in your home.  You’ll want to interact with this person and see if they’re financially capable of buying.  This is done via the Pre-Approval letter.  A pre-approval letter does not guarantee a bank mortgage to a buyer, instead, it indicates to the bank that the buyer may be financially capable of being approved for a mortgage.  When you receive a pre-approval, take some time to call the mortgage officer and ask questions about the pre-approval including what that person has done to review the finances of the buyer. When negotiating a price,