Selling your home by owner is not necessarily the right choice for everyone. But for many homeowners, selling by owner can prove to be a very successful and rewarding experience.
There are many factors that influence the selling experience, but there is one tip that will make selling by owner more successful. And it’s very simple. Treat it like a job.
Comprehensive for sale by owner marketing companies are out there, and some promise all the service without commission. This simply is not true, a homeowner selling by owner will be acting as their own listing agent. This will require taking calls, conversing with potential buyers and agents and arranging then conducting showings. It is work, and you will pay yourself very well.
The homeowners who treat selling by owner as a job have much greater success for several reasons. A job has certain responsibilities and expectations, and a listing agent is no different. Administratively, homeowners should keep a log of the calls, emails and showings. When conversing with potential buyers, timely and polite responses go a long way. Showings need to be conducted professionally, which can be difficult because your first instinct may be to plop on the couch or keep the TV on because it’s your home. Listing agents (hopefully) would not get so comfortable.
We’ve established that selling your home by owner is a job, and taking on a second (or third) job can be daunting for many homeowners. But we need to remember this job is extremely temporary. The average days on market for Consultus Home Sales properties in 2017 was 33. Additionally, it is not a full-time job. Paul and Natalie of Des Moines sold their home with Consultus in 2017. They estimate they spent about 20 hours taking calls, conducting showings and hosting one open house in the 24 days they were on the market. They spent $5,340 less selling by owner and paying a flat fee to Consultus rather than paying a 3.5% listing commission. That’s $267 per hour!!
Selling your home by hour can be a very well paying job!! If you are interested in learning more about selling your home by owner, call us today!