Monday, November 24, 2008

What is the best way to sell my house? Homeowner

Sorry, I was so wrapped up in our latest closing that I totally forgot about finishing my posts from Thursday. The closing occurred on Friday as planned and we have another property for sale ( But now I will continue my post from Thursday (11/20/08).

What is the best way to sell house from the homeowners perspective. If you are a homeowner and need to sell your house the very best way is through a Realtor. They have the access to buyers and the marketing muscle to get it sold. Now just like in all things, there are good Realtors and bad. You need to do research and talk to them about how they are going to sell your house. Talk to people you know who have sold a house. Ask them how long it took? What was the listing price and the sale price? What marketing did the Realtor do? The days of sticking a sign in the yard and selling the house in a few days are over. We are back to a more normal process that take 60 to 90 days. So interview your prospective Realtor. Get their references and talk to other people they have worked with. Ask them what marketing they are going to use; and what price they would list the property. Ask for the data (homes sales) that backs up that listing price. Go look at the compable properties that have sold in the last 60 days. See how these properties compare to your property. The price the Realtor suggests will be lower than you have in mind. The price will be lower because they have up to date information on what has sold. Research before you decide to go it alone.

Homeowners decide to sell their home on their own for a number of reasons but the by far the largest pick that route because they want to save on the commission (4 - 6%). Now this can be a lot of money but a good Realtor will earn every penny by bringing you qualified buyers. But just because you decide to sell your house yourself does not mean you will not spend any money on Marketing. You need to let people know you are selling your house. A sign in front is just the start. I would also make up fliers that you paper your neighborhood letting everyone know you are going to sell your house and schedule an open house. You can also publish it on for your area. Give a detailed description and upload a picture of the house. Check back with every other day and repost your property so it stays on top. You could also pay a flat fee for a MLS listing. There are a number of services that will for about $300 post your property on the MLS. You will agree to pay 3% to the realtor who brings a buyer. Another service that you might try is or or any other of a dozen services. These are companies that have packaged sells kits that will get you on the MLS or home staging, appraisers & inspectors. Again do your research before signing with one of these companies. Talk to people who have sold their house with the services. And last but certainly not least, look at your competition. What are the properties that are for sale in your neighborhood and how they compare with your property. Your competition will limit what you can sell your hosue for. You need to stand out from the competition to attract buyer to you either by price, terms (providing owner financing) or amenities.

Well that was a very quick summary of some of the ways to sell your house. The key to anything is know what you are selling, Good Luck.

See Ya,

No comments: