The real estate market is hot in 2018! It is a great time to sell your home as there are fewer homes on the market and a high demand. High demand and low supply mean that sellers can get top dollar for their homes in most places across the country.

Most people think that if they want to sell their home, they need a Realtor(R). That’s not always the case. While a Realtor(R) will take a lot of work off your plate, you’ll pay a pretty penny for his or her help. Buyers agents and sellers agents typically split a 6-7% commission. That’s a pretty big chunk of your profits going to pay real estate agents!

You might be overwhelmed at the thought of selling your own home, but with a little research and planning, you can successfully sell your home and keep more of your profits. Keep reading to learn how to sell your own home.

How To Sell Your Own Home: First Steps

You might be tempted to take some pictures and get your home posted online as soon as you decide to sell by owner, but resist that urge. There are some things you must do before you actually list your home.

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De-Clutter, Clean, and Repair

First things first: get your home ready to sell. You need to clean out your home, clearing clutter, emptying closets, and getting rid of things you don’t need. Once you clean out your home and minimize your stuff (get a storage unit if necessary), figure out what repairs need to be made.

You might have some painting to do, repairs to make, or curb appeal to improve. Even though the market is hot and demand is low, buyers still want homes that show that owners care and have maintained the home.

Pricing Your Home

Once your home is clean, clutter-free, and show-ready, it’s time to decide on the price. Do your homework before you decide on the price. Use the Internet to see what comparable homes in your area are selling for. Once you have an idea of what homes are going for, price yours accordingly.

Some experts suggest pricing your home lower than what you really want, which can create a situation where you have multiple offers, often above asking price. Once you decide on the price, it’s time to list your home and start marketing!

Listing and Marketing Your Home

The Multiple Listing Service, or MLS, is the more comprehensive list of homes and other real estate for sale in the US. Realtors use it to list properties and homeowners selling on their own can use a service to list their property on the MLS for a flat fee.

By listing on the MLS, other real estate sites will also pick up the listing and include it on their sites. Buyers agents also will be able to include your property for their clients and get in touch with you to schedule showings.

In addition to the MLS, you can also market using for sale signs, brochures, ads on Facebook or Craigslist, and sites especially for owners who are selling on their own.

So Your Home Is on the Market. Now What?

Once your home is on the market, your work is not done. You’ll need to schedule showings, keep up with your marketing efforts, and keep the house ready for potential buyers.

Keeping Your Home Show Ready

Keeping your house show ready can be tough, especially if you have kids and pets. Deep clean your home and remove all personal items, like photos. Try to depersonalize your home so potential buyers can imagine themselves living there. Stage your home to make it warm and inviting to buyers.

If you deep clean your home and keep up with the cleaning, you can do a quick run through each day or before each showing to make sure it’s spic and span for showings.

Remember that buyers want to view houses quickly, so you might not get a lot of notice for a showing. If you say no and propose a later date or time, you might lose out on those buyers who find a different property while waiting to see yours.

Consider an Open House

An open house allows agents and potential buyers to tour your home on a set day and time. You can provide light refreshments, literature about your home, and be available to answer any questions. Advertise your open house with signs throughout your neighborhood and online.

What to Do After Your Home Sells

In this hot real estate market, if you price your home right, chances are you’ll get an offer (or multiple offers) relatively quickly. Be sure you have a plan in place of where you’ll go if your home sells quickly, especially if you’re not buying another home right away.

If you receive an offer, make sure you have the proper forms for making counter offers and have appropriate purchase agreements. Once you and your buyer agree on the terms of the contract, you should be prepared for visits by home inspectors and an appraiser, if the buyer is taking out a mortgage.

A good idea is to consider hiring a real estate attorney to make sure that your contract is solid and to represent you at the closing. You can often find a real estate attorney who will do this for you for a flat fee.

Spending a little of your profits to pay a real estate attorney is often worth it, particularly if you’re not well-versed in the home selling and closing process.

What Are You Waiting For?

The market won’t stay hot forever, so don’t delay in investigating more on how to sell your own home. Act fast to get the best price for your home.

Check out our blog for more resources for selling your home by yourself as well as resources for buying your next home.