Do you get a thrill out of doing things yourself? It’s not that you’re afraid to ask for help from others. On the contrary, you love the sense of accomplishment and independence that doing things yourself brings. Whether it’s DIY home decor or arts and crafts, you love taking matters into your hands and making things happen on your own. Now, you have to sell your home in San Antonio, Texas, and you’re seriously considering doing it without the help of San Antonio realtors. Unfortunately, selling a house by owner isn’t an easy DIY task, but you can do it yourself if you arm yourself with the right tools and tactics. Here is some insight on how you can sell your home successfully independently.
What is For Sale By Owner (FSBO)?
For sale by owner (FSOB) is a way to sell your home without the help of a real estate agent. Many choose this option when they don’t want to shell out money in commissions to a broker for selling their home. The average commission in Texas is around 5.49 percent. So on a house selling for about half a million dollars, you could pay a real estate agent nearly 30,000 in commission fees.
If you go strictly by the numbers, FSBO sounds like a great way to keep money in your pocket. However, there’s a reason that realtors make a substantial amount of money selling homes. It’s more challenging than it seems. A skilled real estate agent has the experience to negotiate a reasonable price for your home. They can also put you in contact with plenty of interested buyers. Additionally, they can tell you what’s hot and what’s not in your neighborhood by pulling comps so you won’t waste your time on unnecessary home upgrades.
The ideal solution is to spend the money to get a skilled real estate agent to sell your home for the best price in the shortest amount of time. However, if you want to do it yourself, Here are some tips to keep in mind to ensure your deal closes successfully.
Know Exactly Who You Want to Sell To
One of the best ways to get good results with an FSBO deal is to have someone in mind who wants to buy your home. For instance, if you have a neighbor, a friend, or a colleague who loves your home and wants to buy it, this drastically increases your chances of success. As long as they can find a lender, this deal will be relatively easy.
Keep It Professional
If you don’t have the option of knowing someone specific who wants your home and you have to market it yourself, make sure you keep it professional. You are competing with professional real estate agents who have been closing deals for years, sometimes decades. So, you must be just as polished as they are when selling. Ensure that you repair and stage your home well. Also, take professional photos of your home and prepare professional listings. Dress well when performing showings. From the beginning until the end, show your customers you mean business, and they will take you seriously.
Selling a home yourself is not a get-rich-quick scheme. The process of selling a home takes time. So you’ll have more success with an FSBO sale if you’re not in a hurry to sell.
Sell in a High Demand Seller’s Market
Another way to succeed with an FSBO deal is to sell in a high-demand seller’s market. In such a market, the seller has the upper hand because many people are always looking for homes in your area.
Avoid Overpricing Your Home
When selling a house FSBO, don’t let greed be the driving force for your sale. Yes, you may save substantially by not paying a real estate agent. However, trying to maximize profits by overpricing your home could have it sit on the market for much longer than it should. It could even cause it not to sell at all.
Disclose Important Facts About the Home
For sale by owner, home sales often are perceived by buyers as scammy. So, to avoid being part of the stereotype, it is a good idea to be as open and honest with potential buyers as possible. Texas law requires sellers to disclose pertinent information about the property in a seller’s disclosure notice
Work With An Attorney
You may not want to work with a real estate agent, but you should still involve a real estate professional. Getting the help of a real estate attorney is critical when selling a home on your own because they can provide expert advice to close your home successfully. They can also help ensure you get a good deal and that your paperwork is signed and submitted promptly. Ultimately, a real estate attorney could be a facilitator throughout your FSBO sale.
A Final Note
Doing things DIY is commendable. However, when it comes to selling a home on your own, doing it yourself may not always be an ideal option. Nevertheless, you can do it well if you incorporate these tips.