Thinking about selling your Minneapolis house, you need to know that you have options! Listing your home on the MLS is not the only way to sell your house. More and more people are learning how to sell their home’s without an agent, which in turn, saves time and money! Learn more about it works in our latest blog!
How To Sell Your House Without An Agent in Minneapolis
What are some benefits to listing without an agent?
There are numerous benefits to eliminating the middle man. One of the biggest benefits is saving money. Both on
commissions and out of pocket expenses when you go to list the home.
To be able to offer a competitive property, you will most likely need to make some repairs and upgrades to the home. If you have ever done a home repair project yourself, you will know that there are typically unforeseen costs and several trips to Home Depot. If you hire a pro, your costs can be significantly higher. Only take on projects you know you are capable of. This isn’t the time to start practicing your new wall texturing methods.
When you don’t use a realtor, you don’t have to pay anyone a commission. A direct sale between two private parties will allow you to keep money in your pocket! You can expect to pay about 6% of your final sale price is commissions to the agents. This can be several thousand dollars! Also, when you work with n agent, you will typically be bound by a listing agreement, giving them the exclusive right to sell. This means, no matter how you sell the home (even if you find the buyer yourself) you will still owe a commission to your agent.
How do I get started?
Set your price, but do your homework first. People often think their homes are worth more than they actually are. Don’t count on Zillow or other sites to give you your home value. Most realtors never go by these numbers as they often become skewed by false data. Research is key when determining the value of your home. You need to look at other homes that have sold near your house that has the same bedrooms and bathrooms and roughly the same square footage. Make sure to also pay attention to the home’s finishes. I know YOU may love your 1970’s shag carpet but now a days most other people do not. Be realistic when you are comparing your house to others. Also feel free to even ask a realtor to help with a CMA, get information without signing a listing agreement. If you try to set your price high and aren’t seeing any interest, you can always lower it. However, prospective buyers will be able to see your pricing history on the MLS and sites like Zillow and Trulia. Repeated, small drops can make you look desperate as a seller, or it could signal that something is wrong with the home. Try to set a fair and well-thought out price from the get-go, and you won’t have to deal with lowering it or not having interest. You can always seek the opinion of a professional appraiser. This will typically cost a few hundred dollars.
Work Your Advertising Game
Pictures say a thousand words! Time and time again, you see real estate listings with poor imagery. If your going to spend any money now is the time. HIRE A PRO! We just recently used a local photography company to sell one of our fix and flip properties and they did a excellent job at a great Price of only $150 for 20 professional HDR pictures. We highly recommend them! You can check them out here Archi-Pix.
Make It Happen!
You will want to prepare your house for listing. Now is the time to bust out that old tee shirt and pants and get to cleaning like you’ve never cleaned before. Thats right, its time to power through that massive pile of dirty laundry, Scrub those Fudge striped toilets, Shampoo them carpets and sweep those floors! For more advice check out our other blog at 5 Tips To Sell Any House Fast
You’ve Found A Buyer, Now What?
Create a contract and accept only WRITTEN offers that include a deposit. You should consult with an attorney and accept the offer only on their approval. Without an agent, you will need to handle all legal and financial paperwork. It is best to work with a lawyer, and a title company you know and trust!
Are you interested in selling your Minneapolis home without using an agent? We can help! If you have any questions or are interested in a no-obligation offer, send us a message now! If you would prefer to speak on the phone, give us a call anytime! (952) 230-2324