Should You Sell Your Home Yourself?
If you live in a hot market, you may not have to pay an agent thousands of dollars to sell your house.
If you're selling in an area where buyers outnumber homes for sale, don't call an agent just yet.
When your house could sell in a couple of days -- or even a few weeks -- maybe you don't have to pay an agent thousands of dollars to market it. Conducting a sale by owner takes a knack for marketing, a well-organized approach and a lot of time.
Price It Right
Because people selling a house themselves usually don't have access to the multiple listing service, one of the toughest tasks is pricing the home. If you know of homes like yours that have sold recently, you can go to your community's recorder-of-deeds office and look it up. It's usually public information.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
You can also check prices of competing homes at Owners.com, where you can also list your home.
Go to Setting the Right Price for more information.
Advertise, Advertise, Advertise
Go to a local sign shop and buy the most attractive lawn sign you can afford. Include your telephone number for "by appointment" showings. (For safety's sake, schedule showings when more than one adult will be home.)
Run classified ads in your local newspaper and in any small community papers. Don't forget bulletin boards at the library or recreation center, or your homeowners association newsletter.
Include the asking price and number of bedrooms and bathrooms, but leave out the address. You're better off trying to screen prospects over the phone first.
Prepare a brochure with an attractive color photo of the home and all its vital statistics. Spell out the size of each room, the type of heating system, and whether there are any special amenities -- such as fireplaces or access to mass transit. Have summer and winter utility bills available for buyers to review.
Be ready with a contract. Make it easier for buyers by having a blank sales contract on hand. A real estate lawyer can prepare documents -- and offer advice -- for well under $500. You can use the same lawyer for closing.
Don't Ignore Agents
There's nothing that says you cannot cooperate with agents. Offer a 3% commission if they bring in a buyer. You might end up conceding that much anyway if the buyer has signed on with a buyer's broker.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
-
Year-End Retirement Tax Planning Actions if You Have $1 Million or More
Consider implementing these four strategies before December 31 to potentially improve your tax situation for this year and the future.
By Joe F. Schmitz Jr., CFP®, ChFC® Published
-
Five Simple Strategies to Ensure a Happy Retirement
Employer retirement plans are great, but individual responsibility plays a huge role in retirement success. Here's how to empower yourself.
By Romi Savova Published
-
Will lower mortgage rates bring relief to the housing market?
The Kiplinger Letter As mortgage rates slowly come down here's what to expect in the housing market over the next year or so.
By Rodrigo Sermeño Published
-
Commercial Real Estate Outlook 2024: The Kiplinger Letter
The Kiplinger Letter In 2024, expect hybrid and work-from-home trends, tighter budgets, rising rents and the demand for data centers to continue.
By Rodrigo Sermeño Published
-
Delinquent CRE Loans Are on the Rise: The Kiplinger Letter
The Kiplinger Letter Banks are expanding their efforts to restructure CRE loans to avoid losses from the commercial real estate sector.
By Rodrigo Sermeño Published
-
As Mortgage Rates Rise, Renting Is Now Cheaper Than Buying for Many: The Kiplinger Letter
The Kiplinger Letter A jump in mortgage rates has caused housing affordability to slump and priced many first-time home buyers out of the market.
By Rodrigo Sermeño Published
-
Rental Market Will Slow Through 2023: The Kiplinger Letter
The Kiplinger Letter Expected growth in the rental market is likely to remain slow for the rest of the year amid a slow housing market and cooling economy.
By Rodrigo Sermeño Last updated
-
How to Set the Price to Sell Your Home
real estate If you're selling your home, setting the right price is crucial. Don't overprice or you'll scare away prospective buyers.
By Donna LeValley Last updated
-
WFH Impact on Commercial Real Estate Market: Kiplinger Economic Forecasts
Economic Forecasts Commercial real estate continues to struggle. Office vacancies hit 18.9% in the second quarter of 2023.
By Rodrigo Sermeño Published
-
Greenland, U.S. Plans to Boost Tourist Economy: Kiplinger Economic Forecasts
Economic Forecasts A U.S. congressional effort could see some Canadian visitors get longer stays, meanwhile, Greenland bids to be the next vacation hotspot.
By Sean Lengell Published