Five Things to Know About Selling Your Home on Your Own

When it comes to selling your home, you might be considering doing it yourself. That is a great idea for some people but before you take the plunge, there are a few things to keep in mind. Here are five things to know about selling your home without the help of an agent.

Hard Work

Selling your home isn’t as easy as just putting an ad in a newspaper. Obviously, there is nothing wrong with placing an ad and you should. However, the most savvy of sellers know that there is more to it than that. Some people place fliers and brochures at heavy traffic areas such as big box hardware stores and supermarkets. Make sure to take plenty of photos and create an ad that draws attention to the potential buyer. It’s rare that a plain listing will secure a sale, especially in a market that may not be on the uprise.

Spend Money

If you really want to maximize the odds of selling your home on your own, be prepared to spend a little cash. Whether it is for newspaper ads, for sale signs, or even a website or listing on a site, these things cost money. Keep in mind though that this is an investment that helps you have a better chance of selling your home at a price that is close to what you want. Sometimes the old saying is true – it takes money to make money.

Research Pricing

There may be a specific price you are looking for to sell your home but it is a good idea to research prices in the area to find out what the market looks like and if you are asking too much or even too little. Find the variables that make a difference such as subtracting for repairs and adding more for things like an excellent location or a house that is near to good schools. Sometimes lowering your asking price can make all the difference between someone who is interested and someone who is serious about making an offer. This doesn’t mean you have to take a loss but do be aware of what is fair and feasible for your target demographic.

Take Agents Into Consideration

Once you are on the market, you can expect agents to contact you wanting to take over the selling of your home. This is an opportunity to gather information from them such as free market values or what the average sales price is for your neighborhood. Make sure you don’t burn bridges because you may decide you want to go with an agent after all and this gives you a chance to find the one that best fits your needs, if that need arises.

Take Advantage of Free Opportunities

Don’t scoff at the power of social networking. Not only is it free but you never know who might be looking for a home and see yours being shared. Best case scenario – someone sees your home and wants to make an offer and the worst case scenario is that at least you were able to get your home out there in front of thousands of people and at no charge.

If you have questions about how a real estate lawyer can help, Oakville Real Estate Law is one of the top firms in Canada for real estate transactions. The firm’s team led by Robert Rose has worked on thousands of transactions the years and have the knowledge and experience you need. For more information on what you need to know about being able to afford a home, please contact us and we will be glad to help.