Many people try to run their own listing to sell a Minneapolis house. While selling without an agent can save you money, trying to market and sell on your own can be a lengthy and costly process. This post informs you about the costs of an FSBO listing before you try all on your own.
Preparation
Before putting your house out there for potential buyers to see, you’ll want to make sure it is being presented in the best light. In order to get your home in the best shape possible, you’ll likely be rolling up your sleeves and getting dirty or bringing in a few professionals.
Cleaning
The house should be cleaned from top to bottom. Floors, cabinets, mirrors, walls, and everything in between. You may want to enlist the help of a professional when it comes to the carpets or power washing your patio.
Staging
Many people choose to stage their home in order to appeal to the most buyers possible. You can choose to add a few pieces yourself or hire a pro to come in and set things up. Some people focus on only a few areas instead of trying to stage the whole house.
Storage
If you are going to stage your home with new or borrowed items, you’ll need a place for your stuff. To clear the clutter, you might consider renting a storage until to house all of your unnecessary items while your house is on the market.
Repairs
Before listing the property, make necessary repairs. Anything they see broken will not impress potential buyers. They might wonder what else is wrong with the house. Be ready for more possible repair costs once the inspection has been done, in order to satisfy the buyer and their lender.
Marketing
A combination of things go into successfully marketing your Minneapolis home for sale. Look at the marketing avenues available to you, then choose which methods will be the most cost effective. You don’t want to find that you spend so much on marketing, to cause yourself to lose any profit you thought would be the benefit of avoiding commission.
Signage
To get the attention of people driving by and to let potential buyers know they have found the right house, you’ll need to add some signage out front. You’ll want to choose something eye-catching, yet not obnoxious.
Printed Materials
You’ll use printed materials during open houses, for people who come to see the home and to be left out front so people passing by can quickly access the property’s information. You can also choose to leave some flyers with local businesses or to put up on school or community billboards. This kind of advertising still works!
Photography
We’ve all seen those listing where the photos were taken with a cell phone, maybe out of a car window. These aren’t going to cut it if you want your home to stand out. The use of a professional photographer can help you sell your house faster!
Open House Supplies
An open house is like throwing a party for your house. You’ll want to have some snacks and beverages available for your guests. You’ll also have to deal with the clean-up after, although your average open house is a bit tamer than most parties.
Online Advertisements & Premium Listings
There are a number of sites out there you will want to list your home on. Many of the sites require a fee to place your ad. Some are free, however, your listing will drop to the bottom of the list as others are added. To keep your property at the top of the list, you’ll need to shell out for those premium listings.
Your Time
Your time has incredible value. When selling your home on your own, you’ll be spending a good amount of time advertising the property, answering questions about the property and neighborhood, showing the house when people want to see it, and managing the escrow process once a buyer has been found.
Holding Costs
In addition to the costs of your time mentioned above, you’ll have even more costs that are dependant on how long the process ends up taking. Utility costs, homeowners insurance, tax liability, a mortgage, landscaping, and other regular maintenance will all add up faster than you may think. If the property takes several months to sell, you could be looking at thousands of dollars in costs related to the property you are trying to sell.
The Risks
When selling your property on your own, there are some risks to be aware of. Not having things done legally, not selling for what the home is worth, and not having any guarantees can be huge risks when you take matters into your own hands.
Your Options
Aside from selling on your own, you could choose to hire an agent to help. However, just like an FSBO listing, there are no guarantees with an agent either. Your other option is to avoid all the costs altogether, and sell your property to Fast Cash Homes MN! We always pay fair prices, while handling all of the details! Learn more about how we can help!