With the recession showing little sign of letting up, more and more people are becoming interested in selling their home on their own so they can avoid paying steep fees for a real estate agent commission. If you're a newbie to the selling game and are wondering what it involves, this article should give you some useful advice on how to proceed. It's got all the basics, including how to publicize a listing, how to attract buyers, and how to seal a deal. So read on and be enlightened.
Who and why do we pay a agent's commission? Read on.
Creating the listing is the important first step in the sale process. You'll need to come up with several flattering photos of your property (and if it's not looking its best right now, you might want to seek the help of professionals to tidy things up), an accurate but enticing description of its features, and a price that seems reasonable when held up against other homes in the area. It may be worth it to hire a listing company to create a professional looking listing for you. If you're savvy with a computer, you might also want to put together a virtual tour. If you visit any great real estate website you will notice the agent has descriptive wording that will entice buyers for each property. List the features of your home that you think will be most likely to attract the right kind of buyers; for example, marble or granite counters, new roof or deck, hardwood flooring, etc. If you really want to jazz the interior up, take a look at some modern furniture.
Once you have your listing put together it's time to get it out there so buyers know you're selling. The first step should be to get into the newspapers, classified newspapers, and real estate supplements that circulate in your area. You'll also want to put up signs on your lawn as well as directional signs from the main road. And finally, you'll want to put your listing online, both on real estate sites and general classifieds sites like Kijiji and Craigslist.
Attracting buyers in with your fabulous listing is all for naught if you don't have an appealing property to show them. Before you even put your house on the market you need to make sure all repairs that need to be done are done, the house is newly painted, the landscaping is tidy and green, and the floor plans have been cleared of all of your extra clutter. This is called staging and if you want you can hire someone to do it for you. PEI agent, Linda Anderson says that when preparing for a home showing, she has the owners clean the entire home, light a candle, turn on all the lights and put out a few snacks for visitors.
This is the toughest part of the real estate transaction to handle alone because you must deal face to face or on the phone with someone who has different goals than you. You want the most money and he the least, and you'll likely settle somewhere in between. Have a real estate lawyer look over the offer for loopholes and you should be okay.