How To Sell Your House Little Elm, Texas - Nerdwallet around Little Elm, Texas

Published Oct 30, 21
5 min read

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However, with a little know-how you can avoid many of these pitfalls. Read on to find out how to sell your house while getting the highest possible price within a reasonable time frame without losing your mind. Key Takeaways Keep your emotions in check and stay focused on the business aspect of selling your home.

If you decide to sell on your own, set a reasonable sale price and keep the time of year in mind. Prepare for the sale, don’t skimp on the visuals in your listing, and disclose any issues with the property. Getting Emotional It’s easy to get emotional about selling your home, especially your first one.

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People generally have trouble keeping their emotions in check when it comes time to say goodbye. Think it’s impossible? It’s not. Once you decide to sell your home, start thinking of yourself as a businessperson and salesperson rather than just the homeowner. In fact, forget altogether that you’re the homeowner.

Also, try to remember how you felt when you were shopping for that home. Most buyers will also be in an emotional state. If you can remember that you are selling a piece of property as well as an image and a lifestyle, you’ll be more likely to put in the extra effort of staging and doing some minor remodeling to get top dollar for your home.

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To Hire or Not to Hire an Agent Although real estate agents command a hefty commission—usually 5% to 6% of the sale price of your home—it’s probably not a great idea to try to sell your home on your own, especially if you haven’t done it before. It can be tempting, especially if you’ve seen all those “for sale by owner” signs on people’s front lawns or on the internet.

They will help you set a fair and competitive selling price for your home, increasing your odds of a quick sale. An agent can also help tone down the emotion of the process by interacting with potential buyers and eliminating tire kickers who only want to look at your property but have no intention of making an offer.

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What to Do If You Don’t Use a Real Estate Agent So you’ve decided not to hire an agent. That’s fine, because it’s not like it can’t be done. There are people who sell their own homes successfully. Remember, though, you’ll need to do your research first—on recently sold properties in your area and properties currently on the market—to determine an attractive selling price.

You’ll be responsible for your own marketing, so make sure to get your home on the multiple listing service (MLS) in your geographic area to reach the widest number of buyers. As you have no agent, you’ll be the one showing the house and negotiating the sale with the buyer’s agent, which can be time-consuming, stressful, and emotional for some people.

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Even with attorney’s fees, selling a home yourself can save you thousands. If the buyer has an agent, however, they’ll expect to be compensated. This cost is typically covered by the seller, so you’ll still need to pay 1% to 3% of the home’s sale price to the buyer’s agent.

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Remember the comparative market analysis you or your agent did when you bought your home to determine a fair offering price? Buyers will do this for your home, too, so as a seller you should be one step ahead of them. You may think your home is worth more, but remember to set a realistic price based on comparable homes in the area.

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In a survey conducted by the informational home sale website , 70% of real estate agents said that overpricing is the number one mistake that sellers make. Don’t worry too much about setting a price that’s on the low side, because in theory this will generate multiple offers and bid the price up to the home’s actual market value.

Expecting the Asking Price Any smart buyer will negotiate, and if you want to complete the sale, you may have to play ball. Most people want to list their homes at a price that will attract buyers while still leaving some breathing room for negotiations—the opposite of the underpricing strategy described above.

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Of course, whether you end up with more or less than your asking price will likely depend not just on your pricing strategy but also on whether you’re in a buyer’s market or a seller’s market and how well you have staged and modernized your home. Selling During Winter Months Believe it or not, there really is a right time to sell during the year.