Are you thinking about selling your house without a realtor? Hi, my name is Jose Fernandez, in this video, I’m going to share with you three things that you need to figure out before you decide to sell your property without a real estate agent.
The three things are quite simple.
#1 Determine what will your house sell for on the market, we call this the market value of the house.
#2 What is the condition of other houses that are selling in your area? this will help you understand what repairs if any need to be done to your house if you would like to sell it for a similar price.
#3 How will you advertise your house? People need to know your house is for sale and the more the better.
Determine the Market Value of your house
In order for you to determine the market value for the property, you need to know what other houses in the area are selling for. You don’t need to know what all of the houses in the area are selling for, you just need to know about the houses that are similar to yours are selling for. Let’s call those comparable houses.
Comparable houses don’t have to be exactly like yours but they have to be pretty close / similar to your property. For example, if you own a ranch style property looking at Colonial houses that are selling in your area will not give you an accurate price for your property. Sometimes this isn’t easy since in most markets in New Jersey, houses are not identical to each other and were not built by the same developer.
Once you have an idea of the market value for your property then you move on to the next step which is determining what kind of repairs your house may need in order to sell for that price.
Does your house need repairs in order to sell for your desired price?
Now that you have an idea of what other houses similar to yours are selling for, you now have to take into consideration what condition your property is compared to those houses. You can do this by looking at old pictures of the comparable properties before they were sold (if they’re still available online) or you can attend open houses in your area to take a look inside of your comparable houses.
The whole point of this is to determine if you need to perform repairs to your house in order to get the desired price that you want, this exercise is a great way to help you gauge if your house measures up to other houses in the area that are on the market. The condition of your house is going to greatly affect the price of your houses. If you’re going to sell your house as-is without doing any repairs it’s most likely going to sell for less than a property similar to yours that’s been newly renovated.
Now it’s time to let people know your house is for sale.
How will you be marketing your house?
Now, if you’re going to sell your house, people are going to need to know that the house is for sale.
How are you going to do that? Do you have any experience in marketing? Do you have time and are comfortable dealing with people?
Typically, what realtors do to market a house is: they we’ll put a for sale sign in front of the house and will host open houses. They will advertise your house online in a number of different websites. They will use flyers or just listed postcards to send around the neighborhood to let neighbors know your house just went up on the market. They try to tell as many people as possible your house is for sale, now this becomes your job.
Once your house is advertised you will have to handle all incoming calls and messages From potential buyers that may or may not be serious and that eventually will be coming to look at the house. One way to tell if you’re dealing with a serious buyer is to ask them if they have a pre-approval from a mortgage company or ask them to bring one when they come to view the house. You will continue this process until you find a qualified buyer and sign a contract.
Remember, when people are coming to your house they are going to compare the condition of your house to other houses they have been looking at and compare prices. So your goal is to have as many people coming to your house as possible to give you the best chance of selling your property for the price you want.
Want to Avoid this whole process?
Selling your house without a realtor is completely doable you just have to set yourself up to win if not it will not be a good experience for you. We may be able to help you out and potentially buy your house without you having to go through this process. In fact, this is the process we go through in order to determine how much we can pay for your house.
We may be able to make you an offer that can work for you without any obligations or commitments and avoid paying for real estate commissions and having unqualified buyers wasting your time.
If you’re interested, simply fill out the form below or give us a call 973-384-1054. Have a great day.