Are You on the Lookout to Sell Your House Privately? Things to Remember

In the past, it was always necessary to list your house with a realtor and sign a listing contract that obligated you to follow their advice on how to sell your property. But thanks to recent developments in technology (especially social media), more and more homeowners are opting for a private sale. Visit here to read more.

How does a private sale differ from a traditional listing?

There are several variations of private sales, but the main difference is that you don’t have to use a realtor to get it done. In fact you can be a realtor, but just as a seller in a traditional listing, you need to be the one to market and sell your house. If you don’t want to do this then the only other option is a short sale.

But keep in mind that if you prefer the private sale route, your selling price will most likely be lower than if you used a traditional listing approach. And that’s not because of any nefarious reasons by realtors.

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Why would I choose a private sale?

You might have many reasons for choosing to sell your house privately. Maybe you don’t want the realtor fees or maybe you want to be the one to advertise, show and negotiate your price. You might also sell because you don’t want to go through a public inspection or appraisal process and don’t mind lowering your price by at least 3 – 5% in order for it to sell quicker.

Should I use a realtor for a private sale?

A realtor can help you market your house, set up showings and negotiate between you and the buyers. But if you’re going to sell your house privately, then it means that you’re going to have to work alongside the realtor or do all of the above yourself.

How much time should I give my private sale?

If possible, try to list and advertise your home within 8 – 12 weeks after the decision to sell is made. Otherwise, you’re looking at least 6 – 10 months.

How do I price my house?

As a seller, you have the final say on the price of your house and should price it in accordance with what it’s worth to you and what you expect the market to pay for it.