How to Sell Your House Without a REALTOR

PREPARE FOR SALE

Before you put your house up for sale, make sure it is ready. Spend some time cleaning up the property and making small repairs that might be necessary. Make sure that any major repair issues are taken care of before you get started - this will help with the negotiation process down the line.

Here's a list of things we recommend starting with:

• Paint the interior of your home, and make sure you patch up any holes first. Use neutral colors that will appeal to more people.
• Replace flooring if it’s in bad shape. Especially carpeting, and outdated tile flooring.
• Paint the exterior of your home, including your front door and garage doors.
• Clean up your landscaping. You want to attract buyers before they walk into your home.
• Update your kitchen. If you can’t replace outdated cabinets, think about painting them. Add a back splash if you don’t have one, replace outdated counters. Do this on a budget. You don’t want to put too much money into your home when your selling it. But kitchens sell homes, so make it look the best that you can.
• Fix anything that’s broken. No one wants to move in and replace everything. so make sure to repair any broken items in your home. Like lights not working, doors that are broken, appliances. You get the idea.
• Clean out your home and purge. This is the time to get rid of things you no longer want and you don’t want to move. You want to create a beautiful space that’s uncluttered.

PRICE IT RIGHT

This is perhaps the most important step in selling your home without an agent. Do some research on comparable properties in your area so that you know what prices buyers are likely to pay for homes like yours. Be realistic about what you will get for your house and don’t overprice it - this will only lead to disappointment later on.

We recommend hiring an appraiser!

it's the best way of ensuring you don't under- or overprice your property. Sure, online tools like Zillow can help give you insight into what other houses in the area are worth; but they may not be accurate enough when it comes down to determining how much yours is actually worth!

ADVERTISE

Once you’ve decided on a price, it’s time to start advertising your house for sale. Take advantage of online resources such as classified ads websites and social media platforms to spread the word about your property quickly and efficiently. You can also use traditional methods such as yard signs or newspaper advertisements if they are available in your area.  

SHOWINGS

When potential buyers come for showings, make sure that everything looks its best and that any necessary repairs have been taken care of beforehand. If possible, provide potential buyers with information about nearby schools or other amenities so that they have an idea of what life would be like living in the neighborhood where your house is located.

HOST AN OPEN HOUSE

Not only does it provide potential buyers with the opportunity to tour your property, but it also helps to generate buzz and excitement around your listing. By opening your home to the public, you increase the chances of attracting serious buyers who not only like your home, but also envision themselves living there. Additionally, hosting an open house allows your agent to showcase the unique features and selling points of your property that may not be immediately apparent through online listings or photographs. Overall, investing the time and effort into hosting an open house can be a highly effective strategy for driving interest and ultimately, securing a successful sale.

Get a home value estimate to see how much you could sell for and how fast based on key trends happening in your area.

NEGOTATIONS

Negotiations can be tricky without a real estate agent handling them for you but they don’t have to be difficult if handled properly. Make sure that all offers are written down and presented clearly so that everyone involved knows exactly what they’re agreeing to before signing anything binding them legally to the deal.

This is why we think it's EXTREMELY important to hire a real estate attorney!

Before you take the plunge and put your home on the market, make sure to consult with an experienced attorney. They'll draw up all of the necessary legal paperwork for a smooth transition when it comes time for closing day. Ask away if there are any questions or uncertainties about selling your house - that's why having a professional on board is essential! With their in-depth knowledge surrounding state laws concerning real estate sales, they can give invaluable advice plus provide helpful direction throughout each step of this big process.

BUYER'S FINANCING

One of the most important things to know when selling your home is your buyer's financing options. When it comes to loans, not all properties are created equal. Depending on the type of loan your buyer is looking to secure, different things are going to be required of the property they are hoping to purchase. For example, FHA loans may need to make sure the property meets their minimum property standards, which focus on things like safety, security, and soundness. The bottom line is that knowing your buyer’s financing before making any negotiations will save you from any surprise later on.

LEGAL ISSUES

There are a few legal obstacles you should be aware of before taking the DIY approach. For starters, you'll need to make sure you have all the necessary legal documents and contracts prepared correctly. Any mistakes on these can lead to major headaches down the road, and potentially even legal disputes. Secondly, without an agent, you won't have someone well-versed in local laws and regulations helping you navigate the process. This means you'll need to devote time to researching and understanding all the legalities by yourself. While going agent-free can be a good decision in some cases, it's essential to weigh the risks and be prepared for the legal hurdles that can come with it.

CLOSING DAY

Since you won't have a real estate agent guiding you through the process, it's crucial to be prepared and have all your paperwork in order. You'll need to have a lawyer present to review and sign the documents, and you may also need to bring a certified check to cover any final expenses or fees. While it may seem intimidating, remember that you have successfully navigated the challenging process of selling your house without an agent, and closing day is just the final step towards a successful sale.

As you can see, it is definitely possible to sell your home without the help of a REALTOR. However, there are risks involved that can cost you time and money, as well as the potential liabilities associated with all forms of real estate transactions that are hard to avoid. Your best option is to be informed and knowledgeable about the process, and talk with a REALTOR or an attorney if needed. By taking these 8 steps towards selling your home without a REALTOR, we hope you’ll be more confident in handling all the facets of the transaction in a safe, responsible manner. Good luck on your journey as you embark on this new adventure!

KEY TAKEAWAYS OF FSBO SALES:

• Selling without a real estate agent means avoiding a listing commission (2.7% on average in Tennessee). But in exchange for those savings, you’ll have to do everything from advertising your home to completing legal paperwork to negotiating the final deal.

• In most cases, you’ll still need to offer a buyer’s agent commission. 2.7% is typical in Tennessee.

• Selling without an agent is best for experienced sellers or people selling to family or friends.

• For most sellers, there are better cost-saving options that will net you more money and provide professional suppor