Property owners do not require the assistance of a traditional commission-based real estate agent when selling their homes. They can sell their homes for a flat fee. With a little bit of ingenuity and research, a homeowner can save 3-6% or more in real estate agent commissions.
Research The Market
Prior to pricing a home, a seller must become familiar with the area real estate market. Sellers must be knowledgeable about the typical characteristics of houses sold or for sale in their immediate neighborhoods. Make a note of the addresses of several homes in your neighborhood that recently sold and appear to be similar to the home you want to sell.
Contact the local assessor to find out the value of the sold homes. The value is generally the price for which a house sold. Note the value and details of the home—the number of bedrooms and bathrooms, for example. List the homes with their details on paper to compare them. Also, research a few homes currently on the market to see how they compare to yours.
Determine a Sale Price
Separately calculate the average price of homes sold and the average price of homes currently on the market. If they’re not comparable, take into consideration how quickly homes are moving in your market. If many of the homes are on the market for months before being sold, go with the lower price. If homes are selling within a week or two, go with the higher price.
Sellers typically pay 5% or more in commission to real estate agents, so consider lowering the listing price by 3% to ensure the home sells quickly. Strategic pricing is critical to the sale of a home by its owner.
Advertise As For Sale By Owner (FSBO)
List your home on popular real estate websites. Also, post the sale of the home on social websites. Put signs in the front yard close to the curb and on nearby street corners. Create fliers with details about the home and attractive pictures of the interior. Pass them out to friends and family and post them on area bulletin boards at the local laundromat, city hall, courthouse, and anywhere else businesses will allow it.
Negotiate with the Buyer
Before going into a real estate deal, sellers should know the lowest price they will accept. Keep that amount in mind. Base the decision on the urgency to sell the home. If it is not expedient that the home sells, then don’t take anything less than what you perceive to be a reasonable offer.
Sell The Home
Cooperate with the appraisal process and inspections. Additional negotiating may be necessary if repairs are needed, termites are found, or other problems are discovered. Make reasonable repairs as necessary. Again, consider the least amount acceptable for the sale of the property. Once the buyer accepts a final offer, attend the closing and celebrate.
Flat-Fee Realty Service in Minneapolis, Minnesota
If you are looking to buy a home in Minneapolis, contact Home Avenue today. We offer flat-fee realty service that can save you thousands of dollars in realty fees and costs. You can also take advantage of our cash back rebate incentives, as well as our FSBO services.
To find out more about our products and services, call us at 952-929-7355, or you can send us a message on our contact page.