For Sale By Owner
Photo by RDNE Stock project
You’ve heard the stories. Getting a home sold and sold quickly in this market is not hard. Anyone can sell a home right now. But, the goal of selling a home should almost never just be to get it sold or sold quickly. That’s really easy to do and anyone can do that right now, even you. The goal should be how are you going to take the very most advantage of the very best sellers market in history AND with as little hassle along the way. Both are possible and both are important.
But, what’s happening right now is many sellers are thinking that because the market is so hot, that they can skip steps or sell privately. Sometimes selling privately is a great idea, but sometimes selling privately leaves thousands of dollars on the table. There are pros and cons to selling privately and there are right ways and wrong ways to do it.
Is selling a home privately (i.e. on your own) a good idea? Sometimes.
For some sellers, the thought of 100 or more people coming through their home in a weekend feels overwhelming and something they don’t want to sign up for, especially as the pandemic continues. This is especially true for people who are immune-compromised or have family members that are. Others just don’t want to deal with real estate agents (which I get) or think that selling directly to a friend or family member is a better option. Sometimes it is, but sometimes there are risks involved.
When Selling Privately Is The Right Choice
If you prefer to have fewer people through your home or perhaps you don’t want your home’s photos on the internet, then selling privately may be right for you. Selling privately also makes a lot of sense during the holidays. This is a strategy real estate professionals have been using for years with great success. Why? Because typically, the number of buyers goes down from mid-November through mid-January, as many are focused on holidays or traveling. There are less homes on the market too, for the same reasons.
But, what if you need or want to sell during an “off time” like in December for a sudden job transfer? Selling off-market during the holidays can be a great option, especially if it means being able to “test” the market without risking it being listed on the MLS and not selling, which can cause problems later.
If you one of these or other reasons making you lean towards selling privately, I can help, even if you prefer a more quiet sale. Whether you list your home on the MLS or not though, the goal should still be to get you the highest possible profit for your home. When we work together to sell your home off-market, I can tap into several resources I have available to help you still get the most possible for your home, while keeping the sale off the public real estate market.
When Putting Your Home On The Market is the Better Choice
If getting the highest price possible is your goal, even if it means being inconvenienced for a short period of time, then putting your home on the market is truly the best option. Selling your home more traditionally means giving it the greatest exposure. The more widely we advertise your home the more certain we are about getting the highest price possible. A listed home is also more likely to sell firmly and quickly; if a first accepted offer falls through for any number of reasons (and it does happen), there will be other already interested buyers to approach immediately. Typically, homes that sell on the market have better terms too—meaning faster closings (if that’s what you want) and fewer conditions.
What’s Right For You?
Putting your home on the market means exposing it to the most homebuyers possible. The more buyers who see your home, the more demand is created, which gives you the best possible chance to achieve the highest price. But, for some sellers, getting the most money for their home isn’t the most important part of selling.
Sometimes privacy or ease and simplicity are just as valuable. For other sellers, getting the most financial return from their biggest investment is the goal. In this case, selling off-market (privately) could mean leaving tens of thousands of dollars (or even more) on the table. There is no one-sized fits all solution to selling a home. Let’s talk about your individual needs. We will take into account where you are headed and figure out which is the best option.
My job is to help you make the best decision for YOU. Whether you sell your home privately or on the market, I can help. My goal is to make sure you have a good experience. Did you know that many sellers want to hand me their keys and be done with it? I LOVE this. This allows me to transform their space, spending as little time and money as possible, yet making it look its best.
Selling Without An Agent
“The market is hot, I can sell my home without an agent and save the commission.” Understandably, this thought is going through a lot of sellers’ minds right now. Let’s consider it a bit more – I know this would be my first instinct. Using an agent to sell your home, whether it’s quietly off the market or on the market, gets you the highest price possible, period.
Real estate professionals have access to large networks and pools of buyers who might otherwise never learn of a private, “for sale by owner”. And, yes, of course I’m saying this because I work in real estate! But I’m also saying it because I have sold a home privately – it went fairly well, but I will never know if I left money on the table on that first home I owned. Since then, I have confidently sold eight properties with the assistance of a real estate professional. I never second-guessed the value they provided in each of those transactions.
Next Steps
Whether you want to sell quietly, privately, exclusively, or on the open market, I’d love to help you. My goal is to get you more return on your investment in your than you would get with other options available. I’d love to show you how.
Email me if you have been thinking about selling your home and we can talk about how to get you the most value from your home sale in the easiest way possible for you.