How to Sell Home by Owner in Bay Area?
What is it like to sell your home by yourself? With tight housing inventory, It may be a logical step to selling the home by owner in Bay area. The prices are increasing, and inventory is shrinking. So, if you can get a competitive offer on your home, it might be wise to list the property without an agent.
How do you do that?
You start with preparation. Agents charge a hefty price for their services, and there is a reason behind this. You will have to complete six major tasks if you sell by owner:
- Renovate and stage the house for sale.
- Price Your Home (Offer a competitive and attractive price)
- Show your home and arrange “open house” events
- Make sure all legal requirements are met.
- Pick a buyer.
- Sell your house and receive your money.
Selling a house is not simple as that. You will be working with various people including the buyers, the title transfer company, inspection officers, escrow agent, insurance company, and probably a real estate attorney to help you manage the deal.
The first step is to pick the right price for your home. You can use an appraisal to get the estimated value of your house. If your house needs repairs, it is important to calculate the ARV (After Repair Value) of your house and use it as a template to price your home.
Hire a Professional Photographer
Whether you market through social media or MLS, you will need high-quality photos of your house. Attractive photos create user engagement online. Poor photos kill the reputation and the chance of making a sale.
You can use up to 40 images for MLS listings.
Order Flat Fee MLS
It is a must have tool for you. In less than $500, you can advertise your home on MLS. Furthermore, you get the support of a real estate agent. It is like a full-service package, but you only pay a fixed-price or a small percentage (0.75%-1.00%). This will be the standard method for the future as more and more people opt to sell the home by owner.
In San Francisco, you can order separate marketing packages that include open house marketing, flyer distribution, social media exposure, and online marketing. However, it is best to purchase a single product along with the Flat Fee MLS that gives all the desired benefits.
Interact with Future Buyers
Today’s consumers expect 24/7 service. They want you to be available whenever they have a question. When selling the home by owner, it is a given that you have agreed to compromise on your time until the house is sold. You must be available on major communication channels including social media, phone, and email. Most people use Facebook and Craigslist as their social media channels.
Arrange an Open House Event
You will need to hold an open house so that buyers can come and visit your home. Purchase “house for sale” signboards and book a set of brochures. It will be nice to arrange refreshment. Make sure that your house is properly staged and all lights are functional.
Pick a Buyer
How to choose a qualified purchaser? Choose a trustworthy person who can close the deal in a timely fashion. Look for financial contingencies, earnest deposit and loan pre-approval. If you have purchased a marketing package, an agent will likely assist you at this stage.
About the Company:
JJW Homes LLC is a residential redevelopment company in Bay area. We buy, rehab, and sell houses throughout the San Francisco and associated areas. Contact us now to sell your home in any condition, any size, and any PRICE.