Moving to a new home can be an exciting process. Selling your home, not so much. If you’re thinking of selling your home, we know that you are under a lot of stress. Moving is a huge transition and can often be very costly. Then you throw in costs associated with hiring a real estate agent and working with buyers, and you’re facing more expenses.
Selling a house without a realtor may sound overcomplicated, but with our guidance, you’ll have a much better outcome if you decide to sell your home by yourself. If you’re searching for advice for selling a house by yourself, you’ve come to the right place.
Find the Fair Market Value for Your House
If you’re looking to sell your house by yourself in Connecticut, It’s important to make sure you know the fair market value, or FMV, of your house. This will give you a better idea of an appropriate price, and an appropriate offer to accept. Without the guidance of a real estate agent, it’s your responsibility to have this information to work with on your own.
To get a more general idea of the price range your home is in, you can start researching the Connecticut real estate market, and see what kinds of prices houses comparable to yours are listing at. This is a good place to get started.
When we talk about fair market value, we are talking about the price that your home is worth. This is a little different from the market value. Market value is how much you can expect to sell your home for or how much to list it in the current market. Depending on if it’s a buyer’s market or a seller’s market, this value can vary.
If you want an exact idea of what your home is worth, you can also get an appraisal of your home. This is a good idea if you need some help figuring out exactly what it’s worth. After that, you can use the research you have done on market value to price your home.
You also want to make sure you factor in any improvements you have made to your home. Since living there have you replaced any big-ticket items? Have you modernized anything? These are all factors that can contribute to the pricing of your home.
Make Necessary Repairs and Redecorate
The key to making your home an attractive option to buyers is to make it as aesthetically pleasing as you possibly can. Homebuyers pay attention to the big stuff, like adequate roofing, water heaters, etc. You want to make sure that any big-ticket items are in good working condition and make necessary home repairs. Nobody wants to buy a house that is going to cost them a fortune to fix. Even if they do, you will be losing out on the sale, because costly repairs cause the value of your home to decline.
In addition to the major repairs, you also want to make the interior of your home pleasing to the eye of the buyer. Making minor repairs or updates to your flooring, adding a fresh coat of paint, or updating your kitchen or bathrooms is going to add to the value of your home.
The more move-in ready your home is the more people that are going to want it. You can also make minor repairs to create a more up-to-date look in your home. Replace old sinks that may look outdated, update your countertops, etc.
After you have finished with all of the major repairs and interior repairs, you can turn your focus onto creating an inviting and charming environment. Show the buyer what the home could be like for them.
Stage Your House Beautifully
You know that feeling you get when you step inside of someone else’s home? Almost immediately, you can feel a sense of how the environment impacts your emotions. That first feeling when a potential buyer steps into your home is impacted by how well you stage your home during tours.
Home staging is a very important part of finding a buyer. Staging starts from the outside, so make sure that your home looks clean and put together before the buyer even steps inside. You can begin staging your house by making sure you have good landscaping in the front of your home, and “cleaning” the outside of your house by power washing it, and keeping your windows clean.
People want to see a clean home when they walk in. So make sure that you create that environment for them. Clean your home, and also make sure that when you photograph your home for the listing that there is no clutter, and everything has a place that makes sense.
Before a showing, you should always make sure you have your home in tip-top condition.
You can add decor items that make your home look welcoming. When you do this, you are giving the potential buyer a sense of home. Show them all the potential your home has by creating a neutral and inviting decor palette for them during showings. You can always look online to gain inspiration and decor ideas. Just try to aim for something that most everybody can get behind.
Run Virtual Tours
Virtual tours are a valuable option to offer to potential buyers. This is so because it caters to those who may not be able to come to view the home in person. Out-of-town buyers or busy people have the option to view your home virtually instead of making the trip there.
You can utilize free or cost-efficient resources to virtually stage your home. RICOH360 offers a free two-week trial to use their services for virtual home staging. After that, they charge just around forty dollars a month to utilize their services. Who knows, maybe you’ll do so well at staging your home that you’ll make a sale in the first two weeks and won’t even have to pay the monthly charge!
Advertise Your House on Social Media
With the widespread use of social media today, advertising your house on it can be a great selling asset. Some different ways you can use social media advertising to your advantage are by using tools like Facebook ads to market your house to potential buyers.
Doing this will give your home visibility on both Facebook and Instagram, and will target your potential buyer audience, reigning in more potential buyers for you, fast.
You can also utilize any community groups you belong to on Facebook as well. Make your post public and let people in your community know that your home is available and all of the necessary details. Mentioning things that you have recently replaced or repaired is also a great way to catch someone’s attention on social media.
Sell to a Cash Home Buyer
You want to make sure that you get what your home is worth on the market. You may be able to find a cash buyer allowing you to get what your home is worth at market value without the hassle of dealing with buyers obtaining a loan. If you have your sight set on finding a cash home buyer in Bristol, there are some things to keep in mind.
With the right advertising and getting the right people to notice your home, it is possible to find a cash buyer. Investors are looking for properties that they can revamp, rent out, etc., all of the time. Several sites offer you access to cash home buyers as well. With just an easy search on Google, you may be able to connect with a potential buyer with a cash offer on your house.
Cash buyers do not require the financial need of other home buyers, which can ease the stress off of you when trying to sell your home. The offer is not going to fall through because of financial uncertainties. This is one of the benefits if you sell to a cash home buyer. Cash Buyers can also offer a quicker sales time since the buyer has funds readily available and doesn’t need to obtain a loan.
If you have never sold a home without a real estate agent, it can feel intimidating. So many factors go into preparing your home for the market, researching price, conducting tours for buyers, and negotiating offers. It can feel like a lot, especially on your own.
There are plenty of resources that can help you through the process. Being well-informed and ahead of the game is an essential part of having a low-stress home sale without a real estate agent.
By utilizing the information in this article and going into the process of selling your home well-prepared, you can expect great results. You just have to be willing to put the time and the work into selling your home.
We hope we’ve given you some helpful information on how to start your FSBO journey! We wish you all the best of luck. If you want to check out some of our other helpful articles, go check out our blog for all things real estate!