When it comes to selling a home, the traditional – and safest – way is to hire a real estate broker. However, commission fees may deter some people from working with a realtor, especially in a city like Georgia, where agent commission charges can be as high as 8% of the selling price.
As a result, most people opt to sell their homes by themselves. But selling a house in Georgia without a broker – otherwise known as For Sale By Owner (FSBO) – has several risks and can take a wrong turn if you don’t take proper steps. For instance, there’s the possibility of undervaluing your home and selling for less than you deserve. You may also take longer to sell since you have limited industry knowledge to navigate the market.
Overall, if you’re planning on selling real estate in Georgia, you need to know the ropes to pull off a profitable deal. To help you out, we’ve put together this guide on selling a house in Georgia by owner. We’ll give you some tips to help you get an excellent deal on your home even without a professional. That said, let’s get down to business;
Get to Know the Required State Laws
The first step to selling a house in Georgia – and, indeed, any state in the US – is first to know the state laws you should adhere to when selling a home. Typically, if you were working with a real estate agent, they’d know all the state regulations guiding real estate transactions in Georgia.
However, since you’re selling by owner, you must take time to learn everything involving home sales to avoid potential lawsuits or fines.
Generally, you’d need to know all the property disclosure rules and fair housing laws. Breaking any of these regulations could prove detrimental. Also, if you’re listing your home on a Multiple Listing Service (MLS), it’s good practice to update the Information on the website immediately you make any changes to your home. Failing to do so could attract fines you’d be better off not paying.
Increase the Value of Your Home With Renovations
Before listing your home on an MLS or hanging the for sale sign outside your front yard, do well to carry out some upgrades on your property. Renovations play a vital role in the overall value of your home.
Homebuyers aren’t just looking for any space to lay their head at night; they’re looking for a home that provides every ounce of comfort that’s typical of modern-day living space. So, you’ve got to give them what they want to by investing in the architecture and aesthetics of your property. However, don’t upgrade anything and everything. Find out what’s trending in home decor and work on that.
You can find home remodelling ideas on blogs across the internet that specialize in that kind of content. Regardless, some essential parts of your home you may want to look into include the painting, kitchen cabinets, HVAC systems, and roofing.
You should also carry out some cleaning to ensure everything is looking tidy. No buyer would be interested in your home if it’s a total mess, so clean up ASAP. Like we said earlier, these upgrades add to the value of your home, and you’ll eventually recoup some of your investments with the sale.
Analyze the Local Market to Get a Competitive Price for Your Home
All your efforts would be in vain if you sold your home for less than its value. As such, you must do some market research to get the right price for your property. Typically, if you were working with a real estate agent, they’d know how to value your house correctly. However, since this is a For Sale by Owner in Georgia, you’d need to do all the hard work yourself.
Generally, the best way to price your home is to compare it to similar properties other homeowners have sold or are still up for sale in Georgia. You can find some of these houses on real estate websites like Zillow.
Use the data you gather to figure out the correct value for your home. You could also get information from realtors in your location who have sold similar properties or from local records on home sales.
List Your Home on A Georgia Flat Fee MLS Company
Listing your home on an MLS company gives you more exposure and allows you to reach more buyers. Depending on the county you stay in, there are several flat fee MLS websites in Georgia. Generally, Georgia real estate agents can access homes for sale in Georgia listed on these platforms for their clients. As such, you can reach hundreds of potential buyers at a time.
Of course, you’d have to pay a listing fee; however, it’s a lot cheaper than the agent commission, and you won’t be losing much from your profit. Furthermore, an MLS company still allows you to retain complete control of the entire selling process. What’s more, you can terminate your contract with the service anytime you want.
However, ensure you keep your listing updated whenever you make any changes to your property. If you fail to do this or do not do it promptly enough, you may have to pay a fine.
Invest in Good Photography
Photographs play a vital role in the number of offers you get for your home. Most buyers will probably see your home in pictures before checking out the property in person. As such, you should invest in good photography during your marketing to showcase the best parts of your home.
We’d recommend you hire a professional real estate photographer to get the job done. However, if you can’t afford it and would like to do it independently, ensure you edit the pictures properly before posting them. Overall, make sure you give buyers the best your home has to offer through the photographs you post on any platform.
Selling a home by owner can be challenging, especially if it’s your first try. However, there a couple of steps you could take that could help you execute the move flawlessly. We’ve given you some proven tips in this article to help you. Here’s hoping you pull off your first home sale excellently.