Back in the day, real estate sales involved a traditional real estate agent who would get you a photographer and home stager after you completed your home repairs. Then, the agent would list the home on the housing market and host an open house or regular viewings.
Afterward, you would get a great bid and sign a contract. You would work with a real estate attorney to close on the home, cover closing costs, and get all the paperwork in order. That’s the traditional way. Today, however, you will find various alternative ways to sell a house.
If you’re looking to find other methods to sell your home, you’ve come to the right place. Here, you will learn how to use social media to attract potential buyers, sell the house by yourself, or work with an iBuyer.
Homeowners looking to save on real estate broker and agent commissions should try these alternative ways to sell their property. Check out these awesome tips below before selling your place.
Alternative Ways to Sell a House in Tennessee
Now that the real estate industry has begun changing and evolving, homeowners have other options when selling their residences. Home sellers can still try out the typical and traditional method of working with a real estate agent. Further, 90 percent of home sales occur with the help of a listing agent and a buyer’s agent.
In that case, prospective buyers negotiate a sale price or provide a bid matching the asking price. If you do go with a realtor, you will end up having to cover the realtor commission fees, which are 5 or 6 percent of the final home sale price.
However, you can also consider working with a flat fee or discount agent. These realtors do not provide as many services nor offer the hands-on help that a full-service real estate agent does. However, you will get to sell your home with a much lower commission fee with some as low as 1 percent of the sale.
Another option is to sell to an iBuyer, which is essentially a cash buyer who will purchase your home via an upfront cash offer. You can decide to forego realtors and sell the home yourself. You’ll need to market the house as a For Sale By Owner (FSBO) and list it on Zillow.
Some other strategies for home selling include:
- Utilizing social media to advertise the real estate property
- Giving one-day incentives to homebuyers
- Boosting home value with unused spaces
- Marketing the neighborhood and the amenities of the home
We delve further into each of these particular areas below.
Using Social Media Advertising to Sell Your House
There are several key strategies that you can use to incorporate social media advertising when selling your home. For example, you will want to promote the location and neighborhood where your home is located in. Let your potential buyers understand the good and the bad of a particular town.
You will also want to add videos to your social media channels to attract more home buyers. Videos provide a bigger connection for your buyers than a mere photo listing. YouTube videos can also go viral, which will get more eyeballs to your listing. You will also need to respond to all comments including negative ones to showcase your customer support.
To sell a house fast, some typical social media websites you use should include both Facebook and Instagram. You can utilize virtual showings or open houses through these social media sites as well.
Offering One-Day Incentives to Tennesse Homebuyers
If you want to sell your place fast, you can offer one-day incentives to homebuyers in Tennessee. Those who want to avoid dragging out the home sale process benefit from one-day home sales and buyers know they are less likely to end up in a bidding war. With the shortage of homes available for sale today, these one-day incentives can help buyers get the home of their dreams fast.
Turn Unused Space into Added Home Value
You can also try to bring more value to your home and get a better price on the real estate market by turning unused space into a new room or amenity. As such, you will need to declutter the home. To improve the market value and curb appeal of your property, you can also get rid of any unneeded items on your porch like your kids’ toys, bikes, and rocking chairs.
You can work with designers and stylists to make your home look desirable for new buyers. You can transform certain spaces in your home into a great spot to attract future homeowners.
For instance, you could create a work space out of a small corner of the kitchen. Add a desk and computer area to that extra room in the basement. With more people working from home today, remote workers would appreciate that space.
You can also bring a bar cart to the living room to provide an interesting look to the space. Improve the mudroom by adding wall hooks and a sitting area. You can add a bench with storage space inside. You can add an area to organize shoes and bags as well. To make the mudroom more attractive, add a few posters or paintings.
FSBO in Tennessee
You can use a multiple listing service to advertise your home to buyers as a For Sale By Owner (FSBO) listing. When listing your place in Tennessee as an FSBO, you’ll gain the benefit of selling your house without any cost to realtors or brokers.
The average realtor commission rates in Tennessee are usually between 4.71 percent and 6.17 percent. If you’re an experienced home seller, you can try selling FSBO. However, you may end up with a lower sales price without the help of a real estate agent.
You can start posting your home on Craigslist and Zillow along with putting up an FSBO sign in the front yard. Get the flat-fee MLS services to list your place through the Multiple Listing Service (MLS). You can also use FSBO websites to find buyers.
Sell the Area as Much as the House
You will need to advertise your neighborhood and the city you live in when marketing your home. It goes beyond the house itself. People are interested in the nearby shops, museums, parks, and playgrounds for kids. If you live in a good school district, you’ll need to advertise that too.
Sell the Amenities Too
What type of amenities does your home hold? Do you have a game room with a pool table or a family room for kids to enjoy? Emphasize that in the listing. If you have a dishwasher, a two-car garage, a fireplace, or two bathrooms, make sure that the listing includes that info.
Does your home have a large backyard with a porch? Show your buyers how nice your outdoor space is.
The best alternative ways to sell a house include providing one-day incentives to homebuyers, using social media for marketing the property, and advertising the neighborhood along with the home.
Selling to an iBuyer, cash buyer, or real estate investor can also provide a simple and quick way to complete your real estate transaction. The benefits of accepting a cash offer for your house include foregoing repairs and landscape work, avoiding realtor fees, and selling the place in only a few short weeks.