Is it possible to sell my property without a Realtor?
Sellers have an option to sell their home with or without a Realtor. This decision is usually determined on the idea of potentially saving money in paying commission fees. If you decide to sell your home without a Realtor, here are questions to ask yourself:
Do I know the value of my home in today’s market?
Does the price justify the true market value of your home? Does it compare with the homes for sale in your neighbourhood? Listing too high can leave you at a disadvantage on many different levels. Realtors won’t bother wasting time by showing clients over market value properties. Additionally, a property on the market for too long could be seen as undesirable to potential home buyers.
If the home is listed too low, you will sell at a loss. So the only option is to sell at the right price. Sellers should research the final sale price of similar properties in their community or even consider hiring a licensed appraiser.
Am I ready to work with a buyer’s Realtor?
In a typical real estate transaction, the seller uses a selling Realtor and the buyer uses a buying Realtor. The seller would cover the fee for both Realtors and pay them each a commission fee based on the sale of the house.
If you decide to sell your home by yourself, you can’t control whether or not a potential buyer wants to use a buying Realtor.
Furthermore, should the buyer use a Realtor, other questions to consider: will I be mentally and emotionally capable of negotiating against an expertise? Will the outcome benefit you?
Will I take control of sales and marketing responsibilities?
Sellers underestimate the amount of work and effort it takes to market their home. Research on the best ways to market and advertise the sale of your home to gain as many potential homebuyers as possible.
A sales technique Realtors use to begin the process of marketing and advertising- begins with home staging (refer to question #9 for more information). Once it becomes visually appealing to a larger audience, capture quality photos, write effective sales descriptions and advertise on websites, newspaper ads, magazines or anywhere that would gain exposure.
Can I bear the criticism of my home?
Negative feedback and criticism of your home is an important process in selling your home. The feedback provided to you can help you improve areas of disappointment before the next buyer showing. If you attempt to sell your home, be sure to remain strong and to remember not to take feedback personally. Understand that buyers can use this as a negotiating technique to buy at a lower price.
Am I willing to screen potential buyers?
Sellers must be willing to screen potential buyers. Ensure that you sign a contract with a buyer who is actually capable of coming up with the necessary funds. Before accepting an offer, ask for a pre-approval letter from a reputable lender.