Five things to understand before you list your home online by yourself

Five things to understand before you list your home online by yourself

Listing and selling your home online by yourself is a great way to save thousands of dollars in the transaction. Some realtors charge up to 7% of the sales price in commission fee and acting as your own agent can save you all that money. There are many home sellers who think that selling your home yourself is easy and doesn’t require much preparation. Anyone who says that selling a home yourself is a fun-filled experience is not being completely honest with you. Selling your home can be surprisingly time-consuming and emotionally challenging if you have not done it before. With people coming in and poking around your closets and cabinets, complaining about the design and build of your home, and offering you less money than you believe your home deserves, ‘for sale by owner’ can become an emotional roller coaster in no time.

But that doesn’t mean that the process is not effective and has more advantages than hiring a real estate agent. All you need is a little guidance which is exactly what we are here to offer you. There are a few things that you need to understand before you list your home online by yourself. This post is not to demotivate you or to get you out of opting ‘for sale by owner’, but to prepare you for the things that might become hurdles for you to cross.

So sit tight, and prepare yourself.

• Working with the buyer’s agent

When a realtor sees someone opting ‘for sale by owner’ to list their home online by themselves, they might not want to work with you. The buyer’s real estate agent might perceive that if there isn’t a professional on the other side of the transaction, they might not want to show your property to the buyer. Some people believe that ‘for sale by owner’ sellers are unrealistic and often difficult to work with. That is not entirely true. If you have the proper knowledge of how the entire home selling process works and understand each and every tiny detail, you don’t need to hire an estate agent. Make sure to cooperate with the buyer’s agent by paying them a commission and being a complete professional.

• Giving it your complete focus

Selling your home by yourself is a time-consuming process that requires your complete focus and attention. Phone calls, emails, texts, scheduling open houses, etc. there’s a lot that goes into the process of home selling. Selling your home by yourself can be time-consuming and nerve-wracking but only if you are not a patient person. As long as you are well informed and ready to sell your house you can list it, even go ahead, and market it and you will be sure to get potential buyers of your home. Being patient and omnipresent is the key here. 

• Keeping your emotions out of the transaction

In order to sell your house and make a hefty amount of money, you need to be objective. Yes, it’s your home and you have your memories in that house, but at the end of the day, it’s a financial asset. As stated above, with people coming in and poking around your closets and cabinets, complaining about the design and build of your home, and offering you less money than you believe your home deserves, ‘for sale by owner’ can become an emotional roller coaster. This is a business transaction and you need to be focused on the numbers.

• Negotiations are hard

Real estate negotiations in ‘for sale by owner’ are hard even if you have a sales background. The buyer wants the best deal possible and your buyer’s agent will do anything to make that happen. So negotiate the pricing of the deal as much as you can but don’t push it too far that you scare the buyer off. Also, there are other things you can negotiate beyond price. This includes appliances, closing date, and closing costs.

In conclusion, as long as you are well informed and ready to sell your house you can list it, even go ahead, and market it and you will be sure to get potential buyers of your home.