In Florida, it is totally possible to sell a house without a broker and if saving money is your top goal then you should definitely consider this option.
The average agent commission in Florida falls between 4.7% and 6%. Suppose your house is worth $400,000, then you will end up paying over $19,000 in agent commission. This is a big chunk of money slipping away from you.
Without a listing agent, you can save half of the commission expense and exercise more control over the sale. But do note that due to the added responsibilities like determining a listing price and negotiating, selling a house without a realtor is a feasible option only for experienced homeowners and those who are ready to put in the time and energy.
If you are a new bird in the real estate market and want to know how to sell a house by owner in Florida, here is a complete guide.
Step 1: Prepare your house for sale
Small repairs and upgrades that increase the appeal of your house can make a huge difference in tipping the scales in your favor. The key is to know where to spend your money in order to get better offers.
There’s no point in making costly repairs. Instead, consider doing a fresh coat of paint, repairing those leaky taps, and installing new light fixtures. Home buyers prioritize modern-looking and clean spaces.
If you are in a hurry to sell your house or do not have the money to carry out the repairs, then you can also consider selling your house “as is”. Selling a house as is in Florida will require you to contact companies that buy such houses for cash, flip them and sell them. This will save you considerable time, money, and effort.
Step 2: Stage and photograph
Great photos also make a lot of difference. The majority of the buyers decide if they want to want to attend a showing or open house by the photos they see of the property online.
A well-staged house will help you sell your house quickly and for more money. Begin by deep cleaning, de-cluttering, and amping up your property’s curb appeal.
Here are a few handy tips for staging your house:
- Carpets are very unpopular in Florida. So, remove the carpet if you want potential buyers to visit your house.
- Use white or pastel colors for the interiors
- Spruce up the yard with rock and mulch
- Pick happy colors for the outside
Again, if selling a house as is in Florida, then you don’t have to worry about any of these either.
Step 3: Set a price
When wondering how to sell a house by owner in Florida, pricing strategy is of the utmost importance. However, this could be a challenging task without a realtor. But not all hope is lost.
To get a good idea of what your Florida home is worth, see comparable listings online from other sellers in your area. For instance, if you think your property is worth ~$300,000, go to Zillow or Redfin, or any other listing site, and analyze the details of comparable homes and how they sit against yours.
Ask and answer basic questions like: do they have a similar number of bedrooms, is the school district better or not, has the house undergone renovation, etc. Such comparative analysis will give a good rough estimate of what your listing price should be.
You may even hire an appraiser to get a more accurate starting point for pricing your house. Expect to pay ~$250-500.
Step 4: List your house
Once the price is set, it’s time to write down the listing description. Think like a buyer and understand their priorities to highlight the key features of your house. The ideal place to list your home is the local MLS. MLS listings get syndicated to other real estate websites, amplifying your home’s exposure.
But only agents can list on the MLS. In this case, you can work with a flat fee MLS company that charges a one-time fee to list your home on the MLS. Houzeo and Redfin are some of the popular flat fee MLS companies.
You should also market your home as much as possible. Post about it on all social media channels and also ask your friends to spread the word.
Step 5: Manage showings
You will require a strong scheduling system to save the contact information of potential buyers and their agents. Be flexible and try showing the house at the buyers’ convenience.
Step 6: Negotiate
Besides the final sale price, you will also have come on the same page regarding contract contingencies, division of closing costs, closing date, and so on. To tip the scales in your favor, try getting creative with the seller concessions.
This may increase your closing cost but it may sweeten the deal for the buyers and they may buy the house for a higher price.
Step 7: Close
Hurray! You have reached the final step in the real estate transaction. Here, the title of the house is transferred officially to the buyer.
Both parties will pay their closing costs. You can hire a title company for a smoother closing. Title companies collect and distribute closing costs, ensure sellers have all the right documents, file them with relevant agencies and collect signatures.
