When it comes to selling a house most people instinctively think of contacting a realtor and getting their house listed. After all, the realtor has the connections and existing client base that should make selling your house easier and faster.
However, while a realtor is an option, it’s not the only way to sell your home. In fact, there are several techniques you can use which could be much more effective. They are also likely to be considerably cheaper than the average realtor commission of 4%. That’s as much as $20,000 for a house worth $500,000, less than the current average house price.
Put Your House in An Auction
Potentially one of the easiest ways to sell your home is to use a local real estate auctioneer. This is an option that many people overlook as they believe that auctions are full of cheap houses, the result of repossessions and people that desperately need cash.
In fact, auctions are full of investors looking for a good deal and save buyers that appreciate they can get a good deal at auction and a quick sale.
The great thing about an auction is you can set the lowest price you are willing to take and anything over this is a bonus. You will know when the auction is happening and that means you’ll know exactly when the sale will occur and how quickly you need to move out afterward.
Best of all, you don’t have to do any additional work to sell your house. You may need to provide photos of the home but it is unusual for people to be able to view them before the auction. That means you don’t have to contend with hordes of strangers trampling through your property.
List It Online
If you prefer you can handle the sale yourself. This starts with tidying the property inside and out, which is something you need to do regardless of your selling approach. You want your property to look its best.
You will then need to research the right price for your property. Remember, if you overprice it you can reduce it but this will encourage potential buyers to make even lower offers. It’s better to get the price right first.
That means looking at what other similar properties go for.
Next, you’ll need an abundance of pictures. These should be high-quality and it may pay to enlist the help of a professional photographer. These are the pictures that you’ll upload online and they need to catch potential buyers’ eyes. Get friends and family to review the pictures and give honest opinions.
Once you have pictures you’ll need to upload them to as many sites as possible. That means all your social media accounts and even some dedicated online property selling sites.
Don’t forget to add a sign in front of your house, it’s surprising how much interest this can generate.
Of course, you’ll need to be ready to show people around your home and answer their questions. This can be time-consuming and frustrating. But, it is an important part of the process.
You’ll also have to deal with the offers and negotiations. The good news is that you’ll save on the commission fees although you’ll still need to pay legal fees.
A top tip when selling yourself is to confirm that the buyer can afford the house as early as possible in the process.
Create A Raffle
In recent years a number of people have created raffles to sell their houses. The process is simple, you set a ticket price, for example at $100, and a date when the raffle will be drawn.
You’ll then need to promote the raffle as much as possible to sell enough tickets. For example, 5,000 tickets would get you half a million dollars which is likely to be worth as much as your house.
However, before you do this you will need to check the rules in your state. Raffling is considered a form of gambling and you’ll need to make sure you comply with all the relevant rules. This can make the process complicated but it is still a viable option if you’re prepared to do the homework and promotion.