KEY TAKEAWAYS<\/h3>\n- You can sell your house with or without a realtor. While working with a realtor costs more money, it reduces stress and saves time.\u00a0<\/span><\/li>\n
- Reviewing recent home sales in your area (comps) can help you determine the most competitive asking price for your house.\u00a0<\/span><\/li>\n
- Listing and marketing your home can be time-consuming and expensive without the help of a realtor, but they\u2019re both necessary for attracting buyers.\u00a0<\/span><\/li>\n
- You can negotiate with buyers to ensure both parties are happy with the terms of the purchase agreement. <\/span><\/li>\n<\/ul>\n<\/div><\/span><\/p>\n
How to Sell Your House: 11 Steps<\/h2>\n
Selling your house can be a complicated, time-consuming process. If this is your first time selling a home, you may not know where to start. Luckily, you\u2019ve already purchased a home, so you can start understanding the buyer\u2019s perspective, which can help with negotiations later. But what do you do when you\u2019re ready to sell your house? Here are a few simple steps for how to sell a house:<\/p>\n
![\"\"](\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2023\/06\/image2-13.png\")
<\/p>\n
Determine how you want to sell<\/h3>\n
If you\u2019re reading this article wondering, \u201cHow can I sell my home?\u201d you have a few options. For instance, you can work with a real estate agent to take care of most of the heavy lifting, or you can decide to save on their commission by selling it yourself.<\/p>\n
Whether you decide to work with a realtor or list the home yourself can greatly impact how much work you\u2019ll need to put into the process and how much you earn from the sale of the home. While the choice is up to you, many first-time sellers decide to work with a realtor to make the process easier since they\u2019ve never done it before.<\/p>\n
We accept lower credit scores.<\/h3>Get a Quote Today<\/a><\/div><\/span><\/p>\nGetting a realtor vs. sale by owner<\/h2>\n
For sale by owner (FSBO) is a popular way of selling your home because it\u2019s more affordable. Instead of using a real estate or listing agent, you\u2019ll take care of the entire home-selling process yourself, which means listing and marketing the home, staging, arranging showings with prospective buyers, and negotiating.<\/p>\n
When you work with a realtor, they\u2019ll take care of most of the process for you, but at a price. Real estate agent commission fees are typically around 6% of the sale price, which may then be split with the buyer\u2019s realtor. The seller pays the commission fees, so you\u2019ll be responsible for paying your own realtor and the buyer\u2019s realtor.<\/p>\n
Selling your home without a real estate agent can help you save money, but since many people don\u2019t have the time to spend on every aspect of the process, most sellers choose to work with a realtor. However, there are some instances where selling your home yourself makes sense. For instance, if you have a friend or family member who is a real estate agent willing to help you, or you have the time to learn how to sell a home, FSBO might be right for you.<\/p>\n
Another example of when you may not need a real estate agent is if you know the person you\u2019re selling your home to because there\u2019s no need to market or list the property.<\/p>\n
That said, if you\u2019ll need to list your home and market it to attract buyers, working with a real estate agent is ideal because it saves time and energy. In addition, if you decide to work with a realtor, you can be as involved in the process as you want; ultimately, your real estate agent can\u2019t make any decisions without you, and they can serve as a resource to walk you through the entire process and support your decisions.<\/p>\n
Consider upgrades<\/h3>\n
Upgrading your home can increase its value, which means earning more on the sale. However, not all upgrades are worth the investment. When considering upgrades before selling your home, you should consider the types of buyers you\u2019re trying to attract and your potential return on investment (ROI). Ultimately, you don\u2019t want to spend time or money on costly upgrades that won\u2019t help you earn more on the sale of your home.<\/p>\n
This is why working with a real estate agent is beneficial for most sellers \u2014 they can help you determine if upgrades are necessary to increase the value of your home and, if so, which ones can give you the highest ROI.<\/p>\n
As a general rule of thumb, kitchen and bathroom updates typically yield the highest ROI. Many buyers see the kitchen as the heart of the home and the bathrooms as their own personal oasis. Simple updates like hardware or cabinetry can make your home look more modern and appealing to buyers. If you don\u2019t have money to upgrade your home, you might consider repainting it to make it look fresh without spending too much on upgrades.<\/p>\n
![\"\"](\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2023\/06\/image4-9.png\")
<\/p>\n
Price your home<\/h3>\n
Once your home is ready to put on the market, you must determine your asking price. Depending on market conditions, you may get more or less than your asking price, but it\u2019s crucial to price your home correctly during the initial stages.<\/p>\n
How you price your home depends on current market conditions and your local real estate market. The best way to determine how much you can ask for your property is to review home prices for similar homes in the area. Pricing your home too high, even during a seller\u2019s market, may make it stay on the market longer because it intimidates buyers. Remember, you\u2019re competing with other sellers in the area. If someone has a home similar to yours and is asking for less, buyers are more likely to be interested in the other property.<\/p>\n
On the other hand, undervaluing your home can lead to lost money. While buyers might see your home as a deal, which can help you attract more prospects, you don\u2019t want to sell your home for less than it\u2019s worth. Your home is an investment, and you want the highest return on your investment possible.<\/p>\n
As mentioned, to price your home correctly, you\u2019ll need to start with comps \u2014 listings of recently sold comparable properties in the area. Knowing how much similar homes recently sold for can help you determine your home\u2019s value and how much buyers might be willing to pay for it.<\/p>\n
If you\u2019re selling your home yourself, one of the biggest mistakes you can make is pricing your home too high and planning to lower it based on interest from prospective buyers. However, when you price your home too high, you can scare away prospective buyers who won\u2019t even be willing to look at the property. You can\u2019t expect those buyers to return when you reduce your asking price.<\/p>\n
Additionally, if you continue to reduce your asking price over a period of many months, buyers might think that the seller is desperate because something is wrong with the home. While this may not necessarily be true, buyers don\u2019t know any better and won\u2019t even consider looking at the property.<\/p>\n
Get an inspection<\/h3>\n
Buyers will get the home inspected before they agree to purchase it, and their mortgage lenders will probably require it before funding their loans. Getting an inspection before listing your home allows you to identify major problems and maintenance concerns to avoid unwanted surprises. For instance, if the buyer\u2019s home inspection reports major issues, they may ask you to reduce the asking price to cover their costs or walk away from the sale altogether.<\/p>\n
![\"\"](\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2023\/06\/image5-8.jpg\")
<\/p>\n
If you want to get the biggest return on your investment when selling your home, getting an inspection before listing it is crucial. By getting these repairs out of the way before you start showing your home to buyers, you can streamline and reduce friction later in the process.<\/p>\n
Create a listing<\/h3>\n
Once your home is ready to go on the market, you\u2019ll need to create a listing that attracts buyers. Your listing includes everything from details about the home and photos to help potential buyers determine whether they want to schedule a showing. If you\u2019re working with a realtor, they\u2019ll handle the listing process for you by listing the property with the multiple listing service (MLS).<\/p>\n
Agents use the MLS to find properties for buyers in the area, and the best way to get your home listed is to work with a real estate agent. You can also list your home with the MLS for a fee. Most realtors use the database to find available properties for their clients, so there\u2019s no reason not to have your home listed. However, you want your listing to stand out from the rest, so it may be worth taking professional photos or hiring a real estate agent to handle staging, photos, and writing descriptions on your behalf.<\/p>\n
If you\u2019re selling your home yourself, there are plenty of other listing sites you can use to attract buyers. However, since writing real estate listings requires a certain skill set, we recommend working with a listing agent or realtor to help since using these platforms is one of the best ways to market your home. A few listing sites you can use when selling FSBO include the following:<\/p>\n
\n- Beycome: <\/b>Beycome is specifically designed for FSBO properties and works with both buyers and sellers who want to forgo working with a realtor. This platform offers reasonable fees to have your property listed on the MLS, with premium packages designed to help with marketing.<\/li>\n
- Zillow: <\/b>Zillow is one of the most popular real estate websites and apps today and has tools for sellers that help them accurately price their homes, find agents, and advertise for free.<\/li>\n
- Trulia: <\/b>Trulia is the second-largest real estate website. Buyers can look for FSBO properties or agent listings. However, the only way to list your home is through its partner, Zillow, which automatically places you on the Trulia website.<\/li>\n<\/ul>\n
Unfortunately, there are some tools you can\u2019t use when selling your home yourself. For instance, Realtor.com uses the MLS listings sourced from hundreds of databases, and you can\u2019t get your home listed on the site unless you work with a real estate agent who has access to your local MLS.
\n
Download the Griffin Gold app today!<\/h3>
Take charge of your financial wellness and achieve your homeownership goals
\r\nUse invitation code: GRIFGOLD<\/b> to register.<\/p>![](\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2024\/02\/apple-icon.svg\")
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<\/a><\/div><\/div>\nMarket your property<\/h3>\n
After you\u2019ve created your listing, it\u2019s time to market your property. It\u2019s not enough to list the home for sale on various websites because those websites are crowded with your competition. You\u2019ll need professional photos, staging, and open houses to effectively market your property.<\/p>\n
\n- Professional photos:<\/b> If you\u2019re working with a real estate agent, they can handle this process by scheduling a photo shoot of your home. High-quality photos can help attract buyers who begin their searches online and determine whether they want to see a property based on the quality of the photos. If you\u2019re not working with a realtor, you\u2019ll have to find a photographer on your own and ensure they take photos that highlight the best parts of your property.<\/li>\n
- Staging:<\/b> You can stage your property for professional photos, showings, or both to help prospective buyers visualize themselves in the home. Staging is the process of decluttering your home and removing personal belongings to make the home look more like a blank canvas for buyers. Again, if you\u2019re working with a realtor, they\u2019ll take care of the staging for you, which may include hiring a professional staging company.<\/li>\n
- Showings: <\/b>Once you\u2019ve attracted prospective buyers with your online listing, you\u2019ll need to dazzle them with in-person showings. Many homebuyers prefer to see the home in person before making an offer, so it\u2019s crucial to have showings that allow them to tour the home and see everything for themselves. During showings, it\u2019s usually best for the homeowner not to be there unless the homeowner is acting as their own real estate agent. In most cases, it\u2019s better to have only your real estate agent there because they\u2019re sales professionals that can convince buyers to make an offer.<\/li>\n<\/ul>\n
Collect and review offers<\/h3>\n
Hopefully, after many showings, you\u2019ll have a few offers from prospective buyers. If you\u2019re working with a real estate agent, they can present the offers for you and provide guidance and advice to help you make the right decision. A few factors to consider when reviewing offers include the following:<\/p>\n
![\"\"](\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2023\/06\/image1-8.png\")
<\/p>\n
\n- Offer amount: <\/b>You can\u2019t always expect a bidding war that increases the amount buyers are willing to pay for your home. However, you can choose the offer that\u2019s closest to your asking price.<\/li>\n
- Mortgage pre-approval: <\/b>Whether your prospective buyers are using Non-QM loans<\/a>, adjustable- or fixed-rate mortgages<\/a>, conventional, or VA loans, you need to know they\u2019re pre-approved. While pre-approval doesn\u2019t guarantee your buyers will be approved for the loan and amount required, it does set them apart from buyers who aren\u2019t pre-approved because it means they\u2019ve taken the necessary steps to help ensure they qualify for a loan.<\/li>\n
- Cash offer: <\/b>Some buyers don\u2019t need mortgages and are willing to pay in cash. Accepting a cash offer on your home means quicker closing because there\u2019s no mortgage lender involved. Additionally, there\u2019s less risk for you because you don\u2019t have to wait to see if a lender will be willing to loan a buyer a specific amount; instead, you\u2019ll get guaranteed money. Cash offers tend to be lower, but they can help you complete the process faster without appraisals, making it ideal for selling your home in as-is condition.<\/li>\n
- Closing costs:<\/b> Typically, buyers and sellers pay closing costs, but how much you pay can vary depending on negotiations. Sellers typically pay realtor commissions, title fees, homeowners association fees, and property taxes<\/a>, while buyers pay attorney, home inspection, appraisal fees, and escrow fees<\/a>.<\/li>\n<\/ul>\n
Negotiate with potential buyers<\/h3>\n
Negotiations are common during the home-selling process. If you sell your home with a realtor, they\u2019ll handle the negotiations with your guidance. Having a real estate agent at your side can help since you\u2019ll most likely be dealing with the buyer\u2019s agent.<\/p>\n
When you receive an offer, you can accept, reject, or counter. Countering is usually the best option if the offer is close to what you want. A counter offer allows you to negotiate on the price or terms of the sales agreement, and all counter offers should be made in writing and give the buyer a deadline for a reply.<\/p>\n
For instance, let\u2019s say the buyer\u2019s home inspection came back and discovered that your roof is in need of repair. The buyer may request that you either reduce the asking price or make the necessary repairs before they sign the purchase agreement. You can either agree to either of those options or reject it.<\/p>\n
When selling your home, there are several things you can negotiate on, such as:<\/p>\n
How to Sell Your House: 11 Steps<\/h2>\n
Selling your house can be a complicated, time-consuming process. If this is your first time selling a home, you may not know where to start. Luckily, you\u2019ve already purchased a home, so you can start understanding the buyer\u2019s perspective, which can help with negotiations later. But what do you do when you\u2019re ready to sell your house? Here are a few simple steps for how to sell a house:<\/p>\n
<\/p>\n
Determine how you want to sell<\/h3>\n
If you\u2019re reading this article wondering, \u201cHow can I sell my home?\u201d you have a few options. For instance, you can work with a real estate agent to take care of most of the heavy lifting, or you can decide to save on their commission by selling it yourself.<\/p>\n
Whether you decide to work with a realtor or list the home yourself can greatly impact how much work you\u2019ll need to put into the process and how much you earn from the sale of the home. While the choice is up to you, many first-time sellers decide to work with a realtor to make the process easier since they\u2019ve never done it before.<\/p>\n
For sale by owner (FSBO) is a popular way of selling your home because it\u2019s more affordable. Instead of using a real estate or listing agent, you\u2019ll take care of the entire home-selling process yourself, which means listing and marketing the home, staging, arranging showings with prospective buyers, and negotiating.<\/p>\n When you work with a realtor, they\u2019ll take care of most of the process for you, but at a price. Real estate agent commission fees are typically around 6% of the sale price, which may then be split with the buyer\u2019s realtor. The seller pays the commission fees, so you\u2019ll be responsible for paying your own realtor and the buyer\u2019s realtor.<\/p>\n Selling your home without a real estate agent can help you save money, but since many people don\u2019t have the time to spend on every aspect of the process, most sellers choose to work with a realtor. However, there are some instances where selling your home yourself makes sense. For instance, if you have a friend or family member who is a real estate agent willing to help you, or you have the time to learn how to sell a home, FSBO might be right for you.<\/p>\n Another example of when you may not need a real estate agent is if you know the person you\u2019re selling your home to because there\u2019s no need to market or list the property.<\/p>\n That said, if you\u2019ll need to list your home and market it to attract buyers, working with a real estate agent is ideal because it saves time and energy. In addition, if you decide to work with a realtor, you can be as involved in the process as you want; ultimately, your real estate agent can\u2019t make any decisions without you, and they can serve as a resource to walk you through the entire process and support your decisions.<\/p>\n Upgrading your home can increase its value, which means earning more on the sale. However, not all upgrades are worth the investment. When considering upgrades before selling your home, you should consider the types of buyers you\u2019re trying to attract and your potential return on investment (ROI). Ultimately, you don\u2019t want to spend time or money on costly upgrades that won\u2019t help you earn more on the sale of your home.<\/p>\n This is why working with a real estate agent is beneficial for most sellers \u2014 they can help you determine if upgrades are necessary to increase the value of your home and, if so, which ones can give you the highest ROI.<\/p>\n As a general rule of thumb, kitchen and bathroom updates typically yield the highest ROI. Many buyers see the kitchen as the heart of the home and the bathrooms as their own personal oasis. Simple updates like hardware or cabinetry can make your home look more modern and appealing to buyers. If you don\u2019t have money to upgrade your home, you might consider repainting it to make it look fresh without spending too much on upgrades.<\/p>\n Once your home is ready to put on the market, you must determine your asking price. Depending on market conditions, you may get more or less than your asking price, but it\u2019s crucial to price your home correctly during the initial stages.<\/p>\n How you price your home depends on current market conditions and your local real estate market. The best way to determine how much you can ask for your property is to review home prices for similar homes in the area. Pricing your home too high, even during a seller\u2019s market, may make it stay on the market longer because it intimidates buyers. Remember, you\u2019re competing with other sellers in the area. If someone has a home similar to yours and is asking for less, buyers are more likely to be interested in the other property.<\/p>\n On the other hand, undervaluing your home can lead to lost money. While buyers might see your home as a deal, which can help you attract more prospects, you don\u2019t want to sell your home for less than it\u2019s worth. Your home is an investment, and you want the highest return on your investment possible.<\/p>\n As mentioned, to price your home correctly, you\u2019ll need to start with comps \u2014 listings of recently sold comparable properties in the area. Knowing how much similar homes recently sold for can help you determine your home\u2019s value and how much buyers might be willing to pay for it.<\/p>\n If you\u2019re selling your home yourself, one of the biggest mistakes you can make is pricing your home too high and planning to lower it based on interest from prospective buyers. However, when you price your home too high, you can scare away prospective buyers who won\u2019t even be willing to look at the property. You can\u2019t expect those buyers to return when you reduce your asking price.<\/p>\n Additionally, if you continue to reduce your asking price over a period of many months, buyers might think that the seller is desperate because something is wrong with the home. While this may not necessarily be true, buyers don\u2019t know any better and won\u2019t even consider looking at the property.<\/p>\n Buyers will get the home inspected before they agree to purchase it, and their mortgage lenders will probably require it before funding their loans. Getting an inspection before listing your home allows you to identify major problems and maintenance concerns to avoid unwanted surprises. For instance, if the buyer\u2019s home inspection reports major issues, they may ask you to reduce the asking price to cover their costs or walk away from the sale altogether.<\/p>\n If you want to get the biggest return on your investment when selling your home, getting an inspection before listing it is crucial. By getting these repairs out of the way before you start showing your home to buyers, you can streamline and reduce friction later in the process.<\/p>\n Once your home is ready to go on the market, you\u2019ll need to create a listing that attracts buyers. Your listing includes everything from details about the home and photos to help potential buyers determine whether they want to schedule a showing. If you\u2019re working with a realtor, they\u2019ll handle the listing process for you by listing the property with the multiple listing service (MLS).<\/p>\n Agents use the MLS to find properties for buyers in the area, and the best way to get your home listed is to work with a real estate agent. You can also list your home with the MLS for a fee. Most realtors use the database to find available properties for their clients, so there\u2019s no reason not to have your home listed. However, you want your listing to stand out from the rest, so it may be worth taking professional photos or hiring a real estate agent to handle staging, photos, and writing descriptions on your behalf.<\/p>\n If you\u2019re selling your home yourself, there are plenty of other listing sites you can use to attract buyers. However, since writing real estate listings requires a certain skill set, we recommend working with a listing agent or realtor to help since using these platforms is one of the best ways to market your home. A few listing sites you can use when selling FSBO include the following:<\/p>\n Unfortunately, there are some tools you can\u2019t use when selling your home yourself. For instance, Realtor.com uses the MLS listings sourced from hundreds of databases, and you can\u2019t get your home listed on the site unless you work with a real estate agent who has access to your local MLS. Take charge of your financial wellness and achieve your homeownership goals After you\u2019ve created your listing, it\u2019s time to market your property. It\u2019s not enough to list the home for sale on various websites because those websites are crowded with your competition. You\u2019ll need professional photos, staging, and open houses to effectively market your property.<\/p>\n Hopefully, after many showings, you\u2019ll have a few offers from prospective buyers. If you\u2019re working with a real estate agent, they can present the offers for you and provide guidance and advice to help you make the right decision. A few factors to consider when reviewing offers include the following:<\/p>\n Negotiations are common during the home-selling process. If you sell your home with a realtor, they\u2019ll handle the negotiations with your guidance. Having a real estate agent at your side can help since you\u2019ll most likely be dealing with the buyer\u2019s agent.<\/p>\n When you receive an offer, you can accept, reject, or counter. Countering is usually the best option if the offer is close to what you want. A counter offer allows you to negotiate on the price or terms of the sales agreement, and all counter offers should be made in writing and give the buyer a deadline for a reply.<\/p>\n For instance, let\u2019s say the buyer\u2019s home inspection came back and discovered that your roof is in need of repair. The buyer may request that you either reduce the asking price or make the necessary repairs before they sign the purchase agreement. You can either agree to either of those options or reject it.<\/p>\n When selling your home, there are several things you can negotiate on, such as:<\/p>\nWe accept lower credit scores.<\/h3>Get a Quote Today<\/a><\/div><\/span><\/p>\n
Getting a realtor vs. sale by owner<\/h2>\n
Consider upgrades<\/h3>\n
<\/p>\nPrice your home<\/h3>\n
Get an inspection<\/h3>\n
<\/p>\nCreate a listing<\/h3>\n
\n
\nDownload the Griffin Gold app today!<\/h3>
\r\nUse invitation code: GRIFGOLD<\/b> to register.<\/p><\/a><\/a><\/div><\/div>\nMarket your property<\/h3>\n
\n
Collect and review offers<\/h3>\n
<\/p>\n\n
Negotiate with potential buyers<\/h3>\n
![\"\"](\"https:\/\/griffinfunding.com\/wp-content\/uploads\/2023\/06\/image7-3.png\")
<\/p>\n