Selling your house is something you will have to do maybe just a few times in your life. And unless you know a local New Jersey real estate agent who will sell your house for free or a hugely discounted commission… it can be a real pain in the rear and an expensive process for you as well. So you are left wondering and scouring the web on how to sell your house by yourself in New Jersey… and you landed on this article about “How to sell your house by yourself in New Jersey: A Short Guide” for a few reasons I am guessing…
- You have no or very little equity in your house so you cannot afford to pay a real estate agent commissions
- You have equity but want to try to save money selling the house yourself before you resort to hiring an agent
- You are in foreclosure (or heading that way) and just need to sell fast without incurring thousands in agent commissions
- You cannot wait the months and months it sometimes takes to sell a house in the New Jersey 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 New Jersey real estate market.
Since 2013, the housing sector has been experiencing a major recovery. Selling your house at this time will definitely be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations of what you want to achieve with this sale.
This article will provide some guidelines to help you sell your New Jersey area house yourself.
How To Sell Your House By Yourself In New Jersey – Let Us Dive In
Know The New Jersey Real Estate Market Well
The initial and crucial step in successfully selling your house by yourself in New Jersey is to gain a comprehensive understanding of the local real estate market. Conduct thorough market research specific to your neighborhood in New Jersey. This step involves visiting various home marketing sites (Zillow, Eppraisal the Chase home value estimator, etc), calling a real estate agent or two to see what your home is worth, or reading about the various market pricing techniques. Proper homework on these issues will allow you to come up with the right price for your house and also help you avoid making certain selling mistakes.
If you do not want to hassle with trying to come up with a home value yourself… give us a call at 609-531-4990 and we will give you an honest fair valuation of what your house is worth on the retail market (if you are going to wait the 3-6+ months to find the perfect retail buyer). And if you want to… we will make you a fair all-cash offer on your house to give you the option of selling quickly (we can close in as little as 7 days if you want to). We aim to provide you with flexibility and choice throughout the selling process, ensuring a seamless and efficient transaction tailored to your specific needs.
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 New Jersey? If so, what is the average that they are listing for? Understanding the local inventory will provide insights into the level of competition your property might face. Consider the average listing prices of comparable houses in your neighborhood. This information will aid you in determining a competitive yet realistic price for your own property.
Are there lots of foreclosures in your neighborhood? That may drag your house price down. Understanding this dynamic allows you to strategically position your property in the market and make informed decisions about pricing and marketing strategies.
By thoroughly assessing the local market conditions, you empower yourself with valuable information to set an attractive and realistic price for your house. This strategic approach increases your chances of attracting potential buyers and expedites the overall selling process.
Asses the house
As a seller, your house should be in top condition or shape in order to sell at a good price. Identify certain unique characteristics that make your home stand out and emphasize them during the marketing. For example, in New Jersey, a house with driveway parking may be more attractive to buyers compared with one with garage parking. Understanding and emphasizing these unique attributes during the marketing process can significantly enhance your property’s attractiveness.
Evaluate the overall condition of your house, addressing any potential areas that may require attention. Does your house require repairs? Does it need to be repainted inside or out? How is the condition of the roof? Is the landscaping in good shape? 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 are willing to pay. Strive to find a balance when setting the asking price for your New Jersey home – one that is fair, competitive, and reflective of the property’s condition.
After all of this… come up with an asking price for your New Jersey home that is fair… is not so high it will 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
In the digital age, media plays a crucial role in capturing the attention of potential buyers in New Jersey. Buyers are obsessed with media. Leverage the power of visual content by incorporating high-quality photos and, if possible, walk-through videos in your marketing strategy.
Create compelling walk-through videos that showcase the various features and highlights of your house. Videos not only provide a more immersive experience for potential buyers but are also considered more transparent compared to static photos. They allow viewers to get a realistic sense of the property’s layout, flow, and overall ambiance.
While videos offer a dynamic way to present your house, do not underestimate the impact of well-captured photographs. They are a more budget-friendly option and remain an essential component of any online listing. Ensure you take photographs of every room in the house, emphasizing its unique attributes. Capture exterior shots from different angles to give potential buyers a comprehensive view before they decide to visit in person.
Investing time and effort into creating visually appealing media content can be the key to attracting the right buyer quickly. Remember, the online presentation of your house through photos and videos can significantly influence a buyer’s decision-making process, potentially reducing the time your property spends on the market.
Get Your House “Listed” On The Local New Jersey MLS And Market It
To maximize your house’s exposure in the New Jersey real estate market, consider getting it listed on the local Multiple Listing Service (MLS). Nowadays, you can find no or low-fee real estate brokers who offer this service for a modest fee. Listing on the MLS is crucial as it promptly exposes your property to a vast network of real estate agents, increasing the chances of finding potential buyers quickly.
When opting for this method, be aware that if you choose to work with buyer’s agents, you may need to allocate a 2-3% buyer’s broker fee. This fee incentivizes real estate agents to bring their clients to view and potentially purchase your property.
In addition to MLS listing, employ a multifaceted marketing approach. Place advertisements in the local newspaper to target a broader audience. Utilize strategically placed signs on roads leading to your property to attract the attention of passersby. Hosting an open house is another effective way to showcase your home to potential buyers, allowing them to experience its appeal firsthand.
By combining MLS listing with traditional and online marketing strategies, you create a comprehensive and dynamic campaign to reach a diverse pool of potential buyers in the New Jersey area. This concerted effort increases the visibility of your property and enhances the likelihood of securing a swift and successful sale.
All Of This Sounds Like A Lot Of Work To Sell Your New Jersey House Fast Yourself?
It can be.
And in the end, many New Jersey house sellers think they are 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 are not a good marketer or are not ready to spend a bunch of time marketing your house right… selling it yourself may not be your best bet.
- If you do not 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 does not 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 costs 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 would rather not put up the hassle of trying to sell your New Jersey house yourself… and would rather just sell it quickly for a fair price without paying any commissions or fees…
… here at Beacon Realty Investments we actually buy local New Jersey New Jersey houses.
We would 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 want to)… which would save you thousands of dollars vs. trying to sell the house yourself and waiting for months.
Also, when we buy local New Jersey houses we do all the repairs that are needed (we pay for it ourselves) so you do not have to worry about that.
If you want to see what we can pay for your house, give us a call today at 609-531-4990 or just fill out the quick simple form through the link below.