In Northern Virginia we are involved with a limited supply of houses and an over supply of purchasers. This leads many owners of real property to market their own homes without listing the property with a real estate company. This can be a successful strategy if you will put in the time and effort to properly ascertain the value of your house and take the proper steps to market it effectively.
APPRAISAL: Spend $300.00 for a good appraiser who will provide you with a realistic value of your house. All of us think our house is special and we need a disinterested third party to tell us how the market will value our property and what we need to do to increase its appeal. The worst mistake you can make is overpricing the house with the thought you can reduce the price later. Ask the appraiser how your house compares to other similar houses in the same price range and what can you do to the house to make it appeal to a purchaser in today's market.CURB APPEAL: Your house has only one chance to make a first impression. Is the yard neat and the beds mulched? Is the house painted and the door knocker and knob shined? Are the interior and the storage areas neat and uncluttered. Are the walls freshly painted? It is the little details that make up the image of your house in a purchaser's mind. What you spend to do the small things will come back in the price of your house. If you don't do them you will lose more then the cost in the price.
LEGAL ASSISTANCE: An experienced real estate attorney can assist in preparing you for the sale process, preparing a sales contract, sorting through multiple offers to ascertain what is the best offer, give you legal advice as to the details in the contract and financing matters, and assist you with settlement. All of this for a very modest fee.
ADVERTISING: In the Northern Virginia Area the Washington Post is the source that most sellers use to place a classified ad. Study other ads in the paper to assist you in preparing an ad which is informative and inviting. Try the Times and the local Journels.
In addition, make a professional sale package to hand out to prospective purchasers. Include a color picture of your house which you took at the time of the year it looks it best, a survey and other data to acquaint a purchaser with your area. What are the school districts? What are the features of your house? When were the appliances replaced? What major work has been done to the house? Is a swim club nearby? These and any number of other facts can be included in the sale package.
Have a for sale sign prepared by a professional and mount it on a hanging type of post. Have an open house and plant professional looking signs in high traffic areas.
REAL ESTATE AGENTS: Do not discount the idea of selling to a purchaser represented by a real estate agent. Some areas in Northern Virginia are so short of inventory that most purchasers are working with an agent. You may pay a 3% commission to an agent who represents a purchaser depending on the demand for your type of house, but it may also ease your burden to deal with an agent who can guide the purchaser and you through the sale process. Drop off your sale package to the local real estate office. Your use of a good real estate attorney and the purchaser's use of an agent is not a bad combination and you will still save money.