Selling your home is a task that you may encounter only a handful of times in your lifetime. Unless you have a connection to a real estate agent in Twin Cities who offers to sell your house either for free or at a significantly discounted commission rate, it can be a daunting and expensive process.
That’s why you’ve probably stumbled upon this page, searching for tips on “How to sell your house by yourself in Twin Cities MN”.
- You have no or very little equity in your house so you can’t afford to pay a real estate agents commissions
- You have equity but want to try to save money selling the house yourself before you resort to hiring an agent
- You’re in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions
- You can’t wait the months and months it sometimes takes to sell a house in the Minnesota area in this market so you want to try to sell it more quickly
Regardless of your specific situation, there are viable options for selling your house independently in the local Twin Cities real estate market.
Over the past decade, the housing sector has undergone a substantial recovery since 2013. As such, selling your house at this time could prove to be lucrative if you approach it correctly. By implementing intelligent marketing tactics and setting realistic expectations for what you hope to achieve from the sale, you can increase your chances of success.
To assist you in selling your Twin Cities area house without professional assistance, this article will provide you with some valuable guidelines to follow.
How To Sell Your House By Yourself In Minnesota MN – Let’s Dive In
Know The Minnesota Real Estate Market Well
The initial and most crucial step in selling your house on your own is conducting thorough market research on your neighborhood in the Twin Cities MN area. This process involves visiting various home marketing sites such as Zillow, Eppraisal, and the Chase home value estimator. Alternatively, you can call a real estate agent or two to get an idea of what your home is worth, or read up on various market pricing techniques.
By doing your due diligence on these matters, you’ll be able to determine a fair price for your house and avoid making common selling mistakes.
However, if you don’t want to deal with the hassle of valuing your home yourself, you can always reach out to us at 612-293-3532 for an honest, fair valuation of your house on the retail market (assuming you’re willing to wait 3-6+ months to find the perfect retail buyer). Alternatively, we can make you a reasonable all-cash offer on your house, providing you with the option to sell quickly (we can close in as little as 7 days if you’re interested.
Asses the market
In addition to conducting market research, it’s also important to analyze the specific neighborhood and comparable houses in the Twin Cities area. This step is critical in determining the best price for your home and ensuring a successful sale.
You’ll want to pay close attention to the number of homes for sale in your neighborhood. If there’s an abundance of properties for sale, you’ll need to take into account the average listing price. This information can provide valuable insight into the current state of the local housing market and help you set a competitive price for your home.
Additionally, you should also consider the number of foreclosures in your neighborhood. Unfortunately, a high number of foreclosures can potentially lower the value of your home. Understanding these factors and taking them into account when pricing your home can help you avoid costly mistakes and make an informed decision about the sale of your property.
Asses the house
As a seller, it’s crucial that you present your home in the best possible condition to attract potential buyers and achieve a good selling price. One way to do this is by identifying unique and appealing characteristics of your home and emphasizing them during the marketing process. For example, in the Twin Cities area, a home with a driveway parking may be more attractive to buyers than one with a garage parking.
It’s also important to assess any necessary repairs or updates that need to be made before listing your home for sale. Are there any areas that require repainting or refurbishing? What is the condition of the roof? Is the landscaping well-maintained? Outdated features such as popcorn ceilings can also detract from the value of your home. Keep in mind that these factors can significantly impact a buyer’s decision to purchase your home, and ultimately the price they are willing to pay.
Once you have a clear understanding of your home’s unique characteristics and necessary repairs, it’s time to set an asking price that is fair and attractive to potential buyers. It’s important to find a balance between a price that is too high and may take an extended period of time to sell, and one that is too low and may not provide a good return on investment. By considering these factors, you can attract a flurry of interested buyers and ultimately sell your Twin Cities home quickly and for a good price.
Use Photos or Videos
Twin Cities 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.
Get Your House “Listed” On The Local Minnesota MLS And Market It
In today’s real estate market, it’s possible to locate real estate brokers who charge little to no fees for their services. These brokers can charge a nominal fee, often a few hundred dollars, to list your property on the local Twin Cities MLS. This service helps to put your home in front of a vast pool of potential buyers represented by real estate agents. However, it’s essential to note that if you choose to have the support of these “buyers” agents, you’ll need to factor in a 2-3% buyers broker fee in your overall cost.
While listing your property on the MLS is a powerful tool, you may want to consider supplementing your marketing strategy with additional tactics. One such strategy is to place ads in local newspapers, which can help you reach a broader audience. You can also consider using roadside signs to draw attention to your property, especially in high-traffic areas. Holding an open house is another effective method for showcasing your property, allowing potential buyers to see the property firsthand and get a feel for its features and amenities.
Overall, combining multiple strategies can increase your chances of selling your property quickly and at a fair price. While there may be costs involved in some of these strategies, they can be an investment in achieving your desired outcome.
All Of This Sound Like A Lot Of Work To Sell Your Minnesota House Fast Yourself?
It can be.
And in the end, many Minnesota 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.
When you sell your own house 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… selling it yourself may not be your best bet
- 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 $1,500/mo… and $1,300 of that is interest… if it takes you 7 months to sell your house… that cost you an extra $9,100 (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 Minnesota house yourself… and would rather just sell it quickly for a fair price without paying any commissions or fees…
… here at Matt Buys Houses MN we actually buy local Minnesota MN houses.
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.
Also, when we buy local Minnesota houses we do all repairs that are needed (we pay for it ourselves) so you don’t have to worry about that.
If you want to see what we can pay for your house, give us a call today at 612-293-3532 or just fill out the quick simple form through the link below.