For Sale by Owner Utah? Thinking of selling your house for sale by owner in Utah? What to know when selling your house for sale by owner. Often times people wonder if they need an agent to sell their home and that all an agent will do is simple paperwork. Check out this video on things to consider before you decide if you really need an agent to sell your house.
Video Transcript:
What to know when selling your house for sale by owner. You might be wondering if you need an agent to sell your house. Well first, I’m going to say you need somebody that knows marketing! In this day and age, it’s not like people are driving around neighborhoods looking for sale signs in people’s yards in order to buy a house. They’re online searching just like you probably are. Think about it. How many people are really driving by your house on a daily basis to see a sign in your yard anyways. I know I’ve personally been looking at a for sale by owner sign off Wasatch and Sandy for about five months now. And Wasatch is a very heavily traveled street with lots of car traffic to see that sign. Hi, this is Melissa with Utah homes by Melissa. In 2018, 95% of home buyers used the internet to search for their home according to a survey done by the National Association of Realtors. So you need someone that knows how to have your house exposed to the masses on the internet. And I’m not talking about sharing it on Facebook, so that a few friends that Facebook sees in their algorithm can see that your house. I’m talking about strategically marketing your house and knowing how to target buyers looking for your home. Similar to the reason why you’re looking at this video right now, you might be wondering, Well, what else do I need to know to sell my house for sale by owner? Well, in 2018 that same survey by the National Association of Realtors reported that 94% of home buyers purchase their home using a real estate agent and only 2% of buyers purchase their home directly from a seller that they didn’t know. So the reality is you need to be prepared to work with a buyer’s agent and have their commission negotiated into the offer that’s presented to you. I mean, after all, the agent did do the work and find the buyer to bring to your home. So here’s what you need to understand about that process. The buyer now has a professional Realtor that does this every day for a living to represent them and what their best interests are while you’re representing yourself. That means you’re gonna need to know the ins and outs of the Utah real estate purchase contract and all the forms that could potentially go with it, which is about 100. You need to understand legalities, pitfalls, deadlines, proper disclosures as a seller, earnest money and understand it’s not just a deposit and on and on. Unfortunately, real estate litigation is going up in Utah. So filling in the blanks isn’t all that there is to do in a real estate transaction. Not to mention, you’re also going to be negotiating with the buyer’s agent on the sales price. You’re gonna be negotiating after the buyer has their home inspection and if the appraisal doesn’t come in, how will you handle that and know how to negotiate that? How do you know where to price your house? I actually just delivered a market analysis yesterday, where the zestimate was $60,000 higher than what an actual house sold for, which was about 7%. So you can’t count on even Zillow to do that for you and they even say to contact a professional agent. You need to understand comparables that an appraiser and a buyer are gonna look at. Just because your neighbor up the street has a single level home that sold for top dollar in the spring that doesn’t compare necessarily to your split level house that you’re trying to sell in November. Other things that you need to consider. Do you have time to show your house to strangers at all times of the day and night and weekends? Do you have a job you need to schedule around? How do you know who’s a qualified buyer for your house before you show it? Do you know how to stage your house to appeal to buyers? Now, if you sell your house for sale by owner that is awesome. Congratulations because you’ve done what many people can’t do. But if you decide you want a professional on your side, give me a call and let’s talk. The realtor that you hire matters. Just like anything in life cheaper isn’t always better. And I always say quality over quantity. This is Melissa with Utah homes by Melissa and as always make it a great home buying and selling day.
