Are you looking answers to your thoughts on how to sell your house by yourself in Minneapolis St Paul metro area?
Many people who own a house think about selling it themselves as they go threw life. The average homeowner move every 7 years and over the course of 42 years statistics tells us you will sell your house 6 times. Think about the commissions you would pay if you hired a realtor or all the hard work you would have to put in to sell it yourself. We hope to give you good information on how to sell your house today.
So… you landed on this page about “How to sell your house by yourself in Minneapolis St Paul MN” because of a few reasons I’m guessing…
- You have no or very little equity in your house so you can’t afford to pay a real estate agents commissions, yet you need to sell your home.
- You have equity but want to try to save money selling your house before hiring an full service local real estate agent
- You’re in foreclosure (or heading that way) and you are feeling all the pain of not being able to pay the mortgage and thought if you sold the house yourself you would come out OK. Or if you can not sell it and the bank forecloses on you, how long can you stay in your home after foreclosure in Minneapolis St Paul?
- You can’t wait the months and months it sometimes takes to sell a house in the Minneapolis St Paul area in this market so you want to try to sell it more quickly
Whatever one you land in… there are ways to sell your house yourself here in the local Minneapolis St Paul metro area.
Since 2013, the housing sector has been experiencing a major recovery. Selling your house at that time was definitely profitable if you did it right. You purchased the home and watch its value raise year and year. Today we are in an interesting time with the Corona Virus, real estate sales have almost totally stopped. If you want to be seen today, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.
This article will provide some guidelines to help you sell your Minneapolis St Paul area house yourself. There are some great online resources for homeowners who are ready to sell in Minneapolis St Paul by themselves.
How To Sell Your House By Yourself In Minneapolis St Paul MN – Let’s Dive In
Know The Minneapolis St Paul Real Estate Market Well
The first and most important step is doing a market research on your neighborhood in the Minneapolis St Paul MN area. This step involves visiting various home marketing sites (Zillow, Eppraisal the Chase home value estimator, etc), calling a local real estate agent or two to see what your home is worth from their prospective, or reading about the various market pricing techniques. All the effort you put in now will reward you big when you put our house up for sale in the upcoming months. You mess up the price you put the house on the market for one of two things happen.
- You put the house on the market for to high and you don’t get any offers and maybe not even any showings. Once you are marketing your house and a buyer sees that you start lowering the price over time, they start to wonder what is wrong with the house. The more days on the market your house is listing, it becomes the kiss of death.
- Price your house to little, you leave money on the table that you could have had in your bank account.
If you don’t want to hassle with trying to come up with a home value yourself… give us a call at (612) 444-5088 and we’ll give you an honest fair valuation of what your house is worth on the retail market (if you’re going to wait the 3-6+ months to find the perfect retail buyer). And if you want to… we’ll make you a fair all-cash offer on your house to give you that option of selling quickly (we can close in as little as 7 days if you want to).
Asses the market
This step is almost similar to conducting market research, only that in this case, you are bound to your neighborhood and similar houses. Are there lots of houses for sale in your neighborhood here in Minneapolis St Paul? If so, what is the average that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your house price down. From a practical sense, look for similar houses with similar square footage, within 400 feet of yours, similar style home, same amount of bedrooms, bathrooms, and garage stalls.
Asses the house
As a seller, your house should be in top condition or shape in order to sell at a good price. If there is an delayed maintenance on your home get that repaired before marketing it. for example:
- From a first impression standpoint when someone would drive up to your home. First, trim any over grown bushes or trees. If any rotting wood on the exterior, repair and repaint to match.
- If your drains are draining slow have someone clean them so they work properly.
- Any not working lights, outlets, switches repair
- Need to be repainted inside
- Condition of the roof?
- Is the house outdated at all? (you know, those popcorn ceilings ;-). All of these things can make the house more attractive or less attractive depending on the buyer… which changes the price they’re willing to pay.
How to sell your house by yourself in Minneapolis St Paul, identify certain unique characteristics about your home that is interesting and emphasize them during the marketing. For example, in a Minneapolis St Paul, a house with a drive way parking may be more attractive to buyers compared with one with only garage parking. On the other side of the coin, in the metro area we saw a trend of old garages that were in terrible shape get tore down in the late 1990’s and left voids where the garages used to be. Some home buyers really want a garage and you marketing that your house for sale has a newer garage would be a great benefit to them.
After all of this… come up with an asking price for your Minneapolis St Paul home that is fair… isn’t so high it’ll take you 12 months to sell the house… but is attractive so you get a frenzy of buyers who are ready to buy it quickly.
Use Photos or Videos
Minneapolis St Paul buyers are obsessed with media. Taking walk-through videos of the house and using the videos to advertise will enable you to reach a wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is more affordable compared to the video.
So take some great pictures. Take a picture of every room in the house that helps show it off. Take a picture of the house from the outside in a few different angles… people want to see the house before they ever show up to see it. So having great pictures of your house online could be the difference between getting the right buyer quickly… and waiting months and months to sell. This may be a point where you want to hire a professional real estate photo company. They are used to getting the best shots and most of the time they make your house look bigger and better then it actually is. You know what a mean, right?
Get Your House “Listed” On The Local Minneapolis St Paul MLS And Market It
You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your house on the local Minneapolis St Paul MLS. This gets your house in front of all of the real estate agents quickly (so be prepared to pay those “buyers” agents a 2-3% buyers broker fee if you plan to have their support in helping you find a buyer. When you go this way, your listing will be uplifted to over 80 website that local Minneapolis St Paul metro area buyers can visit and call you about the house.
Its a little old fashion but still works, place ads in the local Minneapolis St Paulnewspaper, community flyers that you find at coffee shops or cafes, signs on the roads, and hold an open house. There are even ways that you can sell your house this week, they are not traditional but people have been doing it for years and have had good success with it.
All Of This Sound Like A Lot Of Work To Sell Your Minneapolis St Paul House Fast Yourself?
It can be.
And in the end, many Minneapolis St Paul house sellers think they’re saving money and time by marketing the house themselves… when in the end it costs them more money to go that route. Even if they get someone to be interested, you still have to find out how you are going to do the paperwork and get it closed.
When you sell your own house without an agent by yourself, here are some things you need to consider…
- If you’re not a good marketer or aren’t ready to spend a bunch of time marketing your house right… You might find that you didn’t do a great job and it cost you time, and maybe the sale
- If you don’t do a good job preparing the house and the marketing materials… and working with buyers to really build the value of your house in their minds… you may actually sell the house for 3-8% less than you may get for the same house an experienced person marketed the house for you
- Too many sellers never think about holding costs or opportunity costs… every month that your house doesn’t sell means another mortgage payment, tax payment, insurance, utilities, etc. If your mortgage payment is $1,600/mo… and $1,400 of that is at 5% interest… if it takes you 7 months to sell your house… that cost you an extra $9,800 in interest (not to mention taxes and insurance you paid during that time). So, if you were able to sell that house more quickly… would it make sense for you to provide a buyer a discounted price today so you can close quickly and move on? Something to think about.
If you’d rather not put up the hassle of trying to sell your Minneapolis St Paul house yourself… and would rather just sell it quickly for a fair price without paying any commissions or fees…
… here at Minnesota Cash Home Buyers we actually buy local Minneapolis St Paul MN houses. We are a local family business that prides ourselves in being responsible and fair with our clients.
We’d love to make you a fair, NO OBLIGATION and NO HASSLE cash offer on your house.
We can close quickly (in as little as 7 days if you wanted to)… which would save you thousands of dollars vs. trying to sell the house yourself and waiting for months. We will even pay for a professional closing company to do all the paperwork and file it with the county and state offices
Also, when we buy local Minneapolis St Paul houses we do all repairs that are needed (we pay for it ourselves) so you don’t have to worry about that. We just ask you to take what you want out of the house you want to sell and we will do the rest
If you want to see what we can pay for your house, give us a call today at (612) 444-5088 or just fill out the quick simple form through the link below.