South Carolina home owners are not required to hire real estate agents to sell a house. You can actually do it yourself and, fortunately, it doesn’t take knowledge of rocket science to do so. While getting a pro to handle everything for you is convenient, this service comes with a fee. If you can’t afford the extra cost right now and have the energy and time to handle the sale yourself anyway, you can save a good amount from having to pay agent commissions. All it takes is research and some ingenuity.
What does it take to sell a house in South Carolina without a real estate agent? Here are some tips.
1. Get information about the current state of the South Carolina real estate market
The first step to selling your home yourself is to find out how much it is worth. You can start by researching on the going rate for houses in your area. It is the seller’s responsibility to be familiar with what types of houses usually get sold fast in South Carolina.
Take note which ones have been purchased recently and look for the ones similar to the house you are trying to sell. Call the city assessor to find out how much that home was worth and use that number as your benchmark. List down the details of that home that’s similar to yours, along with all the amenities, number of rooms, bathrooms, and more, so you can compare. You can also have a look at the homes that have features similar to yours but have not been sold yet.
2. Decide on your sale price
To help you determine the right price for your home. You can get the average rate of those homes in your area that have been sold recently and the average of those that are still in the market. If there is no point of similarity, take note of the how fast homes in your community get sold. If it takes months for most houses to land a sale, try going for the lower average price. If homes in South Carolina are commonly sold after just a week, then you can start with the higher price.
A real estate agent usually gets at least 5 percent in commissions. You can lower your home’s rate by 3 percent to give it an extra boost. The key to selling a home in South Carolina, even without an agent, is strategic pricing.
3. Announce the sale and place for-sale-by-owner ads
When you advertise online or on print media, begin your ad with a For-Sale-By-Owner notice or FSBO. Use your and your friends’ or families’ social media networks to get the word out faster. You can also place FSBO placards on the front yard or in street corners nearby, provided that the local association allows you to do so in public property. You can also hand out flyers and post on community boards.
4. Be ready to negotiate with your prospective buyer
Before getting into the negotiation table, you must already decide on the lowest price you can go for the house. Always remember that as you and your prospective buyer throw figures at each other until a compromise is reached. Your pricing decisions during the negotiation phase should also depend on how soon you need to sell. If it’s not urgent, then you certainly cannot receive any offers less than what you find reasonable.
5. Finalize the sale and finish the punchlist
When you have finally agreed on the price for your South Carolina home, get the closing paperwork done so the ownership is smoothly transfered after full payment. If there are areas in the house that need repairs or other problems are discovered during the tour, you can negotiate on the rate further.
Just remember to be wary of people who are trying to low-ball you, because buyers certainly will make attempts. If you’re unsure about the licenses that you need to comply with, this can be the part where you will get the services of a solicitor or a lawyer so everything goes smoothly.
There is one major thing that FSBO sellers should watch out for. Because buyers are also looking for the lowest price for their new home, some of them will make strange requests for the replacement or repair of certain parts of your home just to get you to agree to a smaller offer. To make things easier, you can get in touch with Let Us Buy Your House Upstate so they can offer proper valuations and sale assistance at a price that’s fair.