DIY Isn’t Just for Remodeling Anymore
We love DIY blogs because they share the latest news on how to live an expressive and inspired life, and they empower their community to grow, learn, and save money. These are the qualities of creating life experiences and memories you will cherish. And, as a DIYers, we know our homes are a huge part of our life and legacy.
Your home is not just a place you’ve made great memories, it’s where you have made one of your largest investments. And when it comes time to move, you want the biggest return possible. And there is good news because the power has been put back in the consumer’s hands. Today, about 1 in 8 Americans are selling their home on their own and you can save a whopper amount by doing the same.
So here are some expert secrets to keep your hard-earned equity in tack. Follow this guidance and advice and you will be miles ahead of the rest – and you will know you can sell your home with confidence and for top dollar.
First, avoid paying a brokerage commission. The commission might seem like only 6%, but for most Americans it can be 40-50% of their equity.
In today’s economy we all want to make good financial decisions. Let’s face it, we work hard for our money and we are all looking at ways to save money, whether it’s completing DIY projects or looking at ways to save money on groceries. This is why we believe selling your house yourself is the best choice for most homeowners. Especially since selling your home yourself has changed and is much easier to navigate than it was 5 years ago.
There has been what we call a “veil of secrecy” around selling your home and ListingDoor was created as an advocate for homeowners who wanted to sell their homes – yet paying the 6% commission made the transaction not a viable choice. And when you think about the commission from an equity standpoint, you can imagine the dilemma.
Now we see even the National Association of Realtors, NAR, an association dedicated to the real estate industry, has identified numerous uncorrectable problems with the current real estate environment. It begs to be questioned – and that is what we do for homeowners through advocacy and guidance, such as sharing through savvy blogs.
“Technology is constantly evolving and agents aren’t. The difference is noticeable and it’s getting larger.”
STEFAN SWANEPOEL Analyst/Author of the D.A.N.G.E.R. Report
National Association of REALTORS®
The good news is the word is getting out – now more and more homeowners are aware there are options to selling their own home – and selling for top dollar. There is a new generation of homeowners entering the market that know the value of a dollar, and know that with the right tools they can sell their home themselves.
So let’s look at the new online real estate marketplace that real estate agents are competing with – and how this new option puts the power back in the homeowner’s hands.
“ListingDoor is stylish, visual and effective. The other FSBO sites had cheesy graphics.” -Carol
Not only do recent statistics show 1 out of every 8 homes are sold for sale by owner (FSBO), some studies show it’s even as high as 1 out of every 5 homes. FSBO is truly the new DIY for home sales!
So here are four of the most important tips when selling your home FSBO:
1. Pricing Your House Right – make sure it’s competitive and reasonable
Getting an idea of what your house is worth is the first step in arriving at a reasonable asking price. There are numerous sites you will need to visit to gather the comparable listings so you can complete a “Comparable Market Analysis” (CMA) – which is imperative for an accurate price.
Many homeowners look on Zillow, or other online consumer real estate sites, and look at what comparable homes are listed for; you will need to price your home based on the sales price of the homes that are sold vs. the homes you find listed. The sales price of a home is public records, and some of the data you will need is available through Zillow; however, other information needs to be compiled via title records, or the local courthouse. It is a rather grueling process and why many homeowners have thought the only way to get this information is from a real estate agent. The real estate industry has made it very difficult to acquire the information – part of that “veil of secrecy.” You can contact an agent to complete a CMA, and it will be their hope you will list your home with them. If you do the research yourself, you will be able to set a fair and accurate price yourself. The good news is you will negotiate with the buyers yourself with confidence, and back up the price with market-based evidence.
2. Create a Stand-Out Listing
You want the listing to capture your home in the best light. Buyers want to look at homes online and filter through to the homes they are really interested in. You want to be that home! That is why you should include a list of benefits and improvements that detail special aspects of your home. Having a website for your home with photos of all the rooms and exterior is important. There are some resources online that are low-cost or free and vary in regard to ease of use. You also want marketing materials that are specific to your home and a yard sign that makes your home stand out from the sea of for sale signs.
3. Use a yard sign that tells about your home – not a brokerage firm
Traditionally, yard signs are known to promote a real estate broker – but they tell you nothing about the house. The name of the brokerage firm is all the potential buyers have to go on – with no information regarding your home! Instead, use a personalized yard sign to catch their eye and set the tone for a great transaction. Another benefit of selling your home FSBO!
4. Spread the word – create a marketing plan the incorporates Social Media
MLS is no longer the place were buyers go to find homes. Buyers go to sites like Zillow, Trulia and other consumer-based real estate sites because they are open to the public and the user experience is exceptional. Your home must be listed on these sites. Also, thanks to Pinterest, Facebook, and Instagram you can now create a campaign to get the word out to your friends. So post an announcement on Facebook or Twitter with a link to your listing. People can see photos and read the details. Also, remember to email out your information to everyone in your address book—and ask people to pass the word along if they know anyone who’s moving to your area.
