Being able to sell your own home can have its benefits. Let’s be honest. The primary benefit is that you can save the commission paid to real estate agents. It is an advantage of being an American, free to sell your own property. If you plan to sell your home and want to sell it yourself, then let me help you with a few pointers with absolutely no obligation. After all, if you’re going to sell your own home, you still need to do it legally and right for your own protection.
Homeowners transferring residential real estate are required by North Carolina General Statutes 47E to provide a disclosure of the condition of their property whether or not a real estate agent is involved. Disclosures can be obtained by the North Carolina Real Estate Commission online at www.ncrec.gov . In addition to the property disclosure, a required disclosure for Mineral, Oil, and Gas Rights is also required. Other disclosures may be required as well.
Determining the market value of your home is crucial to the effectiveness of selling a home. There are many false ways to determine your home’s value; what you want or need from the sale, what your friends or neighbors tell you, the assessed tax value, and real estate site estimates are just some examples. You may want to consider hiring an appraiser to valuate your home. Keep in mind that the market value is a determinate of what buyers are willing to pay and what sellers are willing to accept in today’s market. That number should be based on recent sales of properties in very close proximity with similar physical features, condition, and age of your home.
Marketing is the second most important factor to effective selling. There are literally hundreds of online real estate sites and getting on as many of them as possible could be the difference of reaching the right buyer or not. The 2011 NAR Profile of Home Buyers and Sellers reports that “over one third of home buyers look online at properties as their first step in the buying process (NAR).” And don’t discount social media.
When it comes to showing your home, you need to consider that most showings these days can happen at various times and sometimes can be on short notice. Making yourself available can present some challenges. Make sure that you have a way to screen prospective buyers as legitimate buyers who have initiated their buying process by getting pre-qualified. Just because someone may want to buy your home doesn’t mean they are able. This can also be a matter of security for you, your family, and possessions. The same goes for hosting an open house. Let your neighbors know what you are doing so they can look out for you should something happen.
When it comes to getting your home ready for market, consider hiring a home inspector to check through your home and uncover anything that may affect the structural integrity of your home that could be a deal breaker to potential buyers. Then touch up the visual aspects of your home to make it appealing to buyers. Declutter!
These are just some of the major variables that should be considered if you want to sell your home on your own. If for any reason the process proves to be less efficient and effective for you, then I would ask for the opportunity to meet with you. Again, there is no obligation. But, you do owe it to yourself to consider an experienced agent that many For Sale by Owners have decided to list with because I get them what they want. I will do the same for you.
