When you think of selling your home, do any of the following phrases come to mind?
If so, you’re not alone. Many people equate the home selling process with those problems, and for good reason. All too often, selling your home takes too long, costs too much, and causes too much stress. But that is often a result of home sellers not knowing that there are options available to selling your home through a real estate agent. Here is some guidance on how to sell your home without stress, expense, and a significant investment of your time.
Know Your Options
Selling your home through a real estate agent is the most well-known way to move your property, but it is not the only way. You can also sell your home yourself, acting as your own agent. This will require a lot of work and a lot of free time, as you will need to:
- Find places to list your home – on web sites, in newspapers, and local real estate publications
- Researching sale prices of homes in your area
- Showing your home to potential buyers
- Negotiating sale price and repairs
- Choosing a home inspector and title company
- Handling closing and contract duties
This can save you money but cost you time. Another option that you may want to consider, especially if saving BOTH time and money is important to you is selling your home as-is. This type of a sale avoids real estate agents altogether, as well as all the steps listed above. It is a faster way to get cash for your property, and is definitely an option you should be aware of.
Learn Your Local Market
Understanding your specific area, whether it is your city, town, or subdivision, is critical when you try to sell your home.
What specifically do you need to know?
- Is your area in-demand?
Do you live in a part of town people that is highly sought after? Are the school districts in your area ones that parents want their children to attend? Are there parks and recreational centers nearby? What sort of retail is around? Are the homes newer or older? These are all factors that will help determine whether or not your area is in-demand. That will in turn help determine how much you can sell your home for and how long it will take to sell your home.
- What are the average sale prices of homes in your area?
You probably have some sort of target price you hope to sell your home for. Perhaps it is a profit goal, or perhaps it is simply the amount you need to pay off your mortgage. Whatever that number is, you should research how much homes on your street, your subdivision, or your zip code are selling for in order to understand whether or not your sales target is realistic.
- How long does it take to sell homes in your area?
In a great home selling market, a home can go on the market, be shown once, and have an offer on it all in the same day. But in a weaker market, or in a less-desirable area of town, you might find yourself waiting months simply for an offer.
So before you do anything with your home, you should research how long on average it takes to sell homes near you. You can then check this against your own finances to see if you can afford a sale that might take a little longer, or whether getting cash for your home fast is a higher priority.
Decide What You Are Willing to Invest
Believe it or not, it can actually cost you money to sell your home. You will need to pay your real estate agent. You may need to pay closing costs as part of the negotiation. You will need to pay for small improvements to the home in order to get it ready to be shown. And you will likely have to pay for repairs to the home, either those requested by the buyers or those ordered by the home inspector.
Knowing how much you want to spend, or if you are willing to spend money at all, will help you decide what to do. If spending is going to be a problem for you, then an as-is sale might become even more appealing as you will avoid expenses altogether.
How Much Time Do You Have Available?
The options mentioned earlier – selling as-is, selling through a real estate agent, and selling your home as the owner – all vary in what sort of time commitment they require. Selling through an agent will require less time investment than selling as your own agent, but selling as-is will take the least time of all. So give careful thought to how much time you have relative to your familial obligations and your own work schedule.
Sell Your Home!
The final step is simple – sell your home! As you can see from the steps mentioned earlier, the key really is preparation. Thinking through factors like time, expense, sale price, and nuances of your area will all help you prepare for a successful home sale. Armed with the right knowledge, you can choose the right option for selling your home and remove the stress and anxiety out of the process. Call us at 314-926-0660 or fill out this form to sell your home today!