With so much of the home search taking place online, many sellers have considered becoming their own agent and listing their home as for sale by owner. If this is a route you’ve considered for your Chicago home, there are a few things to keep in mind. For example, nearly 90 percent of listings use a multiple listing service (MLS) that only brokers have access to. In addition, it’s also much more challenging to sell your home in a buyers’ market, when the connections of a professional may be necessary.
If you’re determined to sell your home on your own, the Equifax Finance Blog provided a great list of tips in the recent article “For Sale By Owner: 6 Hints for Selling Your Home on Your Own.”
- Contact a broker who is willing to list FSBO properties on the MLS for a flat fee. Be prepared to write the content and provide the photos for your listing, and ensure the broker is licensed in your state and a member of the appropriate MLS before you hire them.
- List your home on a site that features FSBO properties. Many of these websites also provide additional marketing services, or they may offer advice and information to help you in your endeavor.
- Know the market in your area and price your home accordingly. Be sure to do your research and find comparable homes in your area that have recently sold. Make sure that those homes have comparable amenities and features to your home to ensure you’re pricing it accurately.
- Photos are key to marketing your home online, and can determine whether or not someone will consider purchasing your home. Hire a professional to shoot your home to show it in its best light.
- Consider using direct mail to help spread the word about your home. You can target potential home buyers using flyers or postcards that are bulk mailed to specific zip codes, or you can use mailing lists from direct mail vendors.
- Finally, use the same tactics that professionals use to sell your home. These include yard signs, flyers, a brochure, website and more. Used in a coordinated campaign, they can make you appear more serious to buyers and provide great results.
If you’re prepared to sell your home on your own to save money, know that it is no easy task and may take some time. Are you considering selling your home in Chicago on your own, or have you tried it in the past? Let us know in the comments below!