Why sell yourself?
Selling a home yourself, without an expensive estate agent is easier than most
people think. However, it will take some work on your part since you will be
doing a lot of things that an estate agent might normally do.
There are 3 main reasons why people choose to sell their home themselves.
It's the money! Sellers save thousands of pounds not paying a 4% or 5%
commission. For example, if your home can sell for £250,000, you'd save £15,000
to £17,500 in commissions.
Sell Your Home Fast. Because you are not paying an outrageous selling
commission, you can afford to price your home more aggressively. The lower the
price, the more likely it sells fast. You will still walk away with thousands in
savings, but you'll just be doing it faster.
It's so easy. Despite what an estate agent may say, selling a house is not
rocket science. They know that, and soon you will too. This article will share
with you 5 essentials things you need to know to sell your home yourself and to
sell your home fast!
1. Understand Why You Are Selling Your Home
Your motivation to sell is the determining factor as to how you will approach
the process. It affects everything from what you set your asking price at to how
much time, money and effort you're willing to invest in order to prepare your
home for sale. For example, if your goal is for a quick sale, this would
deter-mine one approach. If you want to maximize your profit, the sales process
might take longer thus determining a different approach.
2. Prep your home ? de-clutter so people can see its good points
An appealing exterior will lure potential buyers inside, where you have to live
up to their expectations. Fortunately, there are plenty of easy improvements you
can make to your home's interior without spending a lot of money. Cleaning is
No. 1. Your windows, floors and bathroom tiles should sparkle. Make sure you
have clean heating and air conditioning filters. Shampoo dirty carpets, clean
tubs and showers, repair dripping faucets and oil squeaky doors. Keep your home
neat, clean and picked-up at all times. It may not seem fair, but a peek in the
oven may be the hallmark by which a buyer judges how well you have kept up your
home.
Remove unnecessary clutter from the garage, loft, wardrobes
and straighten stored items. Also remove any items that might make a statement
that would be offensive to others who may not share your same views, beliefs or
sense of humour. If your home is crowded with too much furniture, consider
putting some things into storage. If a room needs a fresh coat of paint, use a
neutral off-white. Think, too, about how your home smells. You may be used to
the smell of a pet or cigarettes, but such odours can be a strong turn-off to
others. Be certain to remove valuables such as jewellery and other items from
view. It might be wise to put these items in a safe place before showing your
home.
Finally, set a mood for the buyer. Make your house homely with live
flowers and fresh guest towels in the bathroom. Place scented potpourri around
the house or, on the day you're expecting a potential buyer, pop a batch of
frozen bread rolls into the oven for a welcoming aroma.
Remember, cosmetic changes do not have to be expensive. In fact, costly
home improvements do not necessarily offer a good return on your investment when
you sell. Its attention to the basics-anything that says "this home has been
carefully maintained"-that will help you get the price you want.
3. Setting the price right will sell your home fast.
By far, the most important determinant of price is what buyers are paying
right now for similar homes in your neighbourhood.
What is the single biggest reason homes fail to sell? Setting a price far above
what similar homes are selling for in the same neighbourhood. Compare to
recently sold homes in the neighbourhood, this will give you a good idea of how
much your home will fetch. The value of your 4 bedroom house is tied to the
selling price of other 4 bedroom homes in your neighbourhood. This is true no
matter how much you invested in your garden or in kitchen cabinets.
The trick is to balance the cash you want with the actual value of the property.
A good source to find recent neighbourhood prices on the Internet is
http://www.landreg.gov.uk/.
Also, you can ask local estate agents about properties similar to your own that
they have sold in the past few months. Anything older than 6 months won't give
you an accurate gage of what your home will sell for. You need recent figures
of the actual sale prise (not the asking price!).
4. ADVERTISING WILL SELL your home!
If no one knows your home is for sale home, how can they buy it?! You need to
create awareness so everyone knows your house is on for sale.
The Internet
New low cost web sites will put multiple pictures of your house on the Internet.
Use Internet ads in combination with local newspapers and neighbourhood flyers.
Newspaper ads and Internet ads both require headlines that grab attention, a few
lines to describe key features of the home, and closing lines that gets buyers
to call. A good ad grabs the reader's attention with a catchy headline.
Remember what motivated you to buy your home and put it in a headline:
Highlight the best features of the property.
Consider your probable buyers. Will they have school-age children? If so,
include proximity to school. Describe features of the house which appeal to
your probable buyers rather than the entire public.
Close with a phrase that entices potential buyers to call:
Location. Always give the location of the home. Property buyers are interested
in specific areas, and will pass over your listing if the location is omitted.
Price. A missing price suggests the home is too expensive. Always include the
price in adverts.
End by giving the reader a reason to call and then ask them to do it:
* Don't let this one get away!
* Nothing like it at this price!
5. Do Some "Home Shopping" Yourself
The best way to learn about your competition and discover what turns buyers off
is to check out other open houses. Note floor plans, condition, appearance, size
of surrounding land, location and other features. Particularly note, not only
the asking prices but what they are actually selling for. Remember, if you're
serious about getting your home sold fast, don't price it higher than your
neighbour's.
