Selling a home can be a daunting task for a professional real estate agent. With property promotion, open houses and a fluctuating market, trial and error usually wins out over book knowledge and written rules. But, what about the homeowner who decides to sell their home without the help of a professional. Believe it or not, you may find some of your greatest help in comp homes.
When placing your home on the market for sale, you will inevitably look in your neighborhood for other comp homes also for sale. Competitively pricing your home will draw in potential buyers more quickly than pricing your home out of the range of other comp homes in the area. This pricing model only works if you can find a comp home in your neighborhood. But, how will you know if a home is comparable?
Homeowners should always look at their rival competition for help in selling a home. Visiting the open houses of other homes in the area, or arranging for a walk through with the owners or real estate agent handling the sale, will help you to gauge the home’s condition, in comparison to your home.
This tactic is also helpful for homeowners selling a home without a real estate agent. Seeing how a real estate agent offers the information about the comp home, viewing the real estate agent’s fliers and promotion sheets, as well as, seeing the changes or key points a real estate agent stresses during a walk-through will help you to better understand how you should be handling those aspects of your sale.
Another key point to viewing comp properties in your area, is to judge the price of your home against the price of other comp homes in the area. If you view a comp home that is larger and newer than yours and priced lower, you will see the lack of value in the situation. A home buyer will not be able to see your attachment to a home, nor will they understand why you believe the home to be worth more than the larger home down the street. Viewing a rival’s home is important as a homeowner selling a home without a real estate agent, to better understand how your home looks to the consumer.
Selling a home on your own is a noble task. Using homes in your area to learn the business of home sales, gauge comparable home values and objectively see what other homes have to offer the home buyer, will help you sell your home without a real estate agent.