The average cost of selling a house in California could surprise you. The biggest expense is the commission of a real estate agent. This may make the decision of selling the house yourself seem more reasonable for many. After all, you have to cut costs wherever possible.
Selling a house in California can be made easy if you follow some key things. Also, there are laws that you should be aware of so that you do not break any unwittingly.
This article covers everything you need to know about selling a house in California without a realtor. Let’s get started.
Get your home sale-ready
Minor yet relevant repairs and updates can make a great impression on potential buyers. Simple and not very costly projects like a fresh coat of paint can give you a decent return on investment.
In the end, what matters is knowing what is important and what is going over the board. It is important to display a clean house for your potential buyers. A well-staged home can get your house off the market quickly and for more money.
You will also need high-quality images to list your house.
Set a competitive price
Your personal opinion about your property’s worth will not determine its market value. So, avoid letting your emotions cloud the house’s pricing decision. When selling a house in California look at the comparable listings online to get a fair idea of what your house is actually worth.
If you are willing to spend $300-$400 then you can opt for pre-listing appraisals. Appraisers can offer a more accurate estimate for pricing your home.
List you home
Once you have finalized a price, the next thing is to write a listing description that resonates with potential buyers. Think from a buyer’s perspective to understand the features you may want to emphasize in your listing.
When selling a house in California, these are some of the key buyer priorities: backyard amenities, car-charging space, sprinkler system, garage, great view, and energy efficiency.
The ideal place to list your home is on the MLS (multiple listing service). The homes listed on the MLS populate on other real-estate platforms as well, which enhances your property’s exposure.
Having said that, only real estate agents can list on the MLS. Another option is to hire a flat fee MLS California service, which levies a one-time fee to list your property on the platform.
Most flat fee MLS California services cost a few hundred dollars, including a description of your property, up to 25 images, and a listing of up to one year. Additional services can be bought al carte.
Some of the best Flat Fee MLS California services are Houzeo, Congress Realty, MLS Town, and HomeListers.House.
In addition to the MLS, you can also leverage social media to post your listing on Facebook, Nextdoor, and Instagram. Craigslist is another free and simple option.
Show your home
You will need an efficient scheduling system while organizing showings. Be flexible and try holdings the showings as per the convenience of your buyers.
Try an create a homely vibe. Lighting some candles or baking cookies can help your potential buyers feel at home. Remember these small touches can speak volumes.
Negotiate
While negotiating the final sale price is the real ball game, do not underestimate other contract contingencies that may cause the deal to fall through if both parties are not on the same page. So, it is equally, if not more, important to decide how closing costs will be divided, the timeframe, and other things.
To get an advantage in the negotiation process, you can offer seller concessions. This may cost you a bit but might incline the buyer a little to your side. The eventual result could be a higher final sale price.
Some of the most popular seller concessions when selling a house in California include:
Home warranty: If your house has appliances that are on their last leg, a warranty can cover likely problems and is usually less costly than making major repairs.
Repair credits: These are win-win for both buyers and sellers. You can write credit to the buyer of a set amount to cover the repair expenses. Once the deal closes, you don’t have to think about repairs going out of budget.
Close
This is the final leg of the real estate transaction. It is advisable to hire an escrow agent or title company to enable a smooth closing. If you are living in Northern California, a title company will suffice as they also undertake all escrow procedures.
In Southern California, however, it is usual to hire title and escrow companies separately.
Bottom Line
These were the key things to consider when selling a house in California. While selling a house by owner has its advantages like lower commission expense, more control, and no competition with other clients, it also has disadvantages like the risk of inaccurate pricing, more work, and handling all the paperwork yourself.
So weigh all the pros and cons and then decide the path you want to take.