Selling Your Own Home

As an alternative to working with an experienced real estate agent, you might consider selling your home yourself; however if you choose this option, be prepared for a lot of work!  It can and has been done, of course, but if you don't have the time and energy to commit to it (or need to sell in a hurry), this option might not be for you.


Whether you choose to use a real estate agent or not, you still need to do your homework!  The following is a checklist to help walk you through the process:


Know your property.  If you are not already, become familiar with such facts about your property as property taxes, zoning, lot size, square footage, etc.  Look at the terms of your existing loan and any payout penalties.


Research the current market and property laws in your area.  

Set the price.  Once you know the specifics about your home and have checked out what similar properties in your area are selling for, set a realistic price.


Determine financing alternatives.  Contact lenders in your area to determine what the options are for your prospective buyer.  You want to be informed before they ask, or your lack of knowledge may turn them off from dealing with you.


Perform a "walk through" of your property.  Look at it from the perspective of both the buyer and the inspector.  Take notes on all items that need to be repaired or replaced.    Please feel free to contact me for Checklists that can assist you in this task.


Know your neighbourhood.  Most prospective buyers will want to know about the local schools, shopping, parks, transportation, etc.  Be prepared so you can knowledgeably answer their questions.


Establish a marketing budget.  How much are you willing to spend to sell your house? 


Establish a marketing plan. Establish your advertising cost, create a plan on how to best within your budget reach prospective buyers, both local and out-of-town.  Since many people do relocate from a distance, be sure to include internet advertising in your plan.  


Write the test and/or design your ad.  At the very least, you will need a well-written few sentences that will run as a basis for your advertising.  Know your target audience.  Don't skimp on this.  A professional, well crafted ad can attract buyers while a poorly designed and executed one can turn buyers off to your property.


Clear your schedule.  Make arrangements so that you have free time to schedule appointments at the prospective buyer's convenience, as well as for any open house showings that you hold.  If you are working with an agent,  he or she will take care of showings and open houses on your behalf.  It is best to allow your agent to show your home on their own so that the prospective buyer does not feel uncomfortable or pressured.


For the balance of the Tips for how to Sell Your Own Home please ask... I will be delighted to pass on this information with my compliments.


- Teresa

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.