Any advice selling my house without a realtor?

Question

We really don't want to get a realtor involved. What steps do we need to take to sell a house and/or where can I get this info?

Any advice would help. Thanks!

Answer 1

You really don't need a real estate agent to sell your property. You need to have common sense and be willing to hold open houses and discuss prices and other things with people that want to purchase your house.

There are several For Sale By Owner (FSBO) web sites that you can look up in selling your home yourself.

The main thing about selling your home is the maximum exposure through advertisement. This can be done several ways

#1 Advertise in your local newspaper (to include any open houses you schedule)

#2 Flyers on some part of the property or house that is easily accessible to the public and that they can see from the curb

This flyer should give the sale price, have a picture of the property # of bed and bathrooms, perhaps a few inside shots of the house and it should be in color.

#3 Open house to show the property to potential buyers.

#4 Advertise on the free websites on the internet.

Even though you plan to sell the property yourself you might consider interviewing three real estate agents, tell them the truth you are considering selling the home yourself but you wanted to interview a couple of agents to get their ideas. During the interview they should give you some idea as to the sale price of like properties in your neighborhood.


Now once they have given you what the property should sell for, they were nice enough to spend time with you and help you in getting compts and talking with you.

When you finally make up your mind, please call these 2-3 agents that you interviewed and tell them thanks, but you have decided to sell the property yourself. That is common courtesy and you should extend that courtesy to them.

Clean up the property so it will have good curb appeal. When you drive up to the house ask yourself "Would I purchase this house?" Take care of any possible problems that you know are there but you simply over looked them. Paint inside and outside, cost about $3K increase value about 10K. New carpet might also be in order if it is more than 5 years old.

Take away any clutter that might also be there, that lived in look you have might turn some buyers off. So clean up

Now you should also call a mortgage broker to see if he would be interested in assisting you with open houses. Tell him for his expertise you are willing to give him a list of those individuals that looked at your home, but were not pre-approved.

You would also want this individual to be there for your open houses so set up a schedule that he is able to attend.

This individual should also assist you in finding an escrow closing agent, an appraiser as well as a title company to assist you in your sale.

This person will also be able to assist with any state rules and local laws required to know in selling a house in your area.

Now once you have found a person to purchase your property, draw up a sales contract with the assistance of the mortgage broker. He will get an appraiser to verify the value. He should assist you in opening an escrow closing agent.

If the buyer is not pre-approved your mortgage broker will get the buyer approved and handle the paper work. If he is pre-approved his mortgage person will take care of the rest of the paper work.

Either way the mortgage broker whom ever he might be will take care of the majority of the rest of the transaction.

Don't fall for the real estate agents that will come by and ask if they find a buyer would you give them a commission. Tell them if they find someone their client should pay them.

The reason for this exercise is for you to put the maximum amount of your equity in your pocket as you possible can and not into a real estate agent's pocket. Keep your eye on the mission.

Now about paying off your mortgage, the escrow closing agent will send a letter to your present mortgage company and request a demand of payment indicating how much you currently owe on your mortgage. Your mortgage company will send them a reply with the amount you owe. This will be done on any mortgage you owe if you owe more than one.

The escrow closing agent will pay off any demands they receive. Anything left after all payoffs a check will be written to you the seller.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 2

To sell a property for top dollar you need exposure to all buyers, properly marketing your property, make sure it's all legal. (this does not include for sale yard sign and a couple of ads)

Most likely a buyer for your property will have a Realtor/Real Estate Agent representing the buyers best interests (their money). Is a professional protecting your money? Remember it's your property and you will sell it on your terms, everything is negotiable.

The best place to get this info is from a Realtor. You can call up any Realtor and just ask questions for free and ask them what they do to sell homes in your area. A good honest Realtor will answer your questions and point you in the right direction.

This does not mean you are getting involved with a Realtor.

Answer 3

You can sell your house yourself, but it doesnt sound like you have any experience or knowledge of the process. Here's some information from the Dummies book (no offense): http://www.dummies.com/WileyCDA/DummiesArticle/id-1094.html

They also give you tips on marketing, showing and cover some of the possible pitfalls you need to be aware of...

Pricing is the KEY to selling right now. Look on Zillow and see what comparable homes in your neighborhood have actually sold for. DON'T use Zillow's estimate of value to price your home. They use comparables that aren't really comparable to your property. Take the lowest last sale in your neighborhood of a house just like yours and price yours 5% BELOW that number. You can also call real estate agents in your area to do a free market analysis for you. They will also give you lots of information that is relevant to your marketplace. Even if you don't want to list your property, you should at least talk to a couple of agents. You will get some idea of the scope of the job and you may decide that you don't really want to go it alone. They will even tell you how they plan to market your property if you pick them, so you can get some additional ideas if you don't.

2nd key is Condition. Get your home in the best possible condition prior to showing it to anyone. Fix anything that needs repair and clean it until it sparkles.

Get your closing team together now. They can help you with alot of the questions you will have.

BTW - I do strongly agree with the answers that suggest that you do use a REALTOR - but it's your choice and that wasn't your question :)

Good luck!

Answer 4

Think twice before ruling out a Realtor. It may seem like you may be saving some money, but they have all the buyers. Besides, if you were buying from a for sale by owner house, you know they are saving the commission so why would you want to pay it. The one thing you want to remember, is the buyer is the one with the money, so as the seller, you're not really paying the realtor's commission anyway.

Answer 5

I've been lending money for over a decade. I'd estimate the number of my clients that had a good experience FSBOing (for sale by owner)ing at around 10%. You'll more than likely make the same or more money with a realtor, sell it faster, and have a lot less headaches. Keep that in mind. If you're dead set on FSBOing you house for your own reasons, I did have one client that had a fair experience using "Buy Owner"

Answer 6

Get your home inspected by a professional. This will tell you all the problems that may exist & that will need to be addressed before selling. It will save you a lot of grief in the long run. This way, you can be up front with prospective buyers & If you want to sell 'as is' you all will know problems up front. Get the price ranges that homes in your area have sold for, so you know what is a reasonable price.
Clear out clutter, clean rooms well & fresh paint makes a huge difference. Good luck!

Answer 7

An attempt to sell by a homeowner seldom results in a sale.

Try a book store for information.
Speak to an Escrow company.
Speak to a Real Estate teacher at a community college.

Answer 8

ok, you're being penny-wise and pound-foolish. houses that ARE listed with realtors aren't selling right now and you think somehow YOUR home is going to sell without being on the MLS, without a realtor showing it to buyers, and marketing it? hahaha, good luck. 80% of people that try to sell homes by themselves end up listing it with a realtor.

Answer 9

You like playing Russian Roulette?

Well that's what you're doing.

You'll be prey to buyers. and responsible for contractual breaches and/or obligations for years to come.

Did you see Pacific Heights with Michael Keaton and Melanie Griffith?

Just as there's professional renters as in the movie, there are professional buyers too. "Oop's" did I say professional :))

Answer 10

Don't do it. Hire a professional.Your house will sell faster and for more money.