Selling your house is something you’ll have to do maybe just a few times in your life. Unless you know a local Portland real estate agent who will sell your house for free or a hugely discounted commission, it can be an expensive process.
If you are wanting to sell your house by yourself in Portland OR, it is probably due to one of the following reasons:
- You have no or very little equity in your house and can’t afford to pay a real estate agent’s commissions.
- You have equity but want to try to save money by selling the house yourself before resorting to hiring an agent.
- You’re in foreclosure, or heading that way, and 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 Portland area in this market. You need to sell quickly.
Whatever your reason, there are ways to sell your house yourself here in the local Portland real estate market.
Since 2013, the housing sector has been experiencing a major recovery. If you do it right, selling your house at this time will definitely be profitable. In most cases, it is about using smart marketing strategies and having realistic expectations regading what you want to achieve with this sale.
This article will provide some guidelines to help you sell your Portland area house yourself.
How To Sell Your House By Yourself In Portland OR – Let’s Dive In
Know The Portland Real Estate Market Well
The first and most important step is doing a market research on your neighborhood in the Portland OR area. This step involves visiting various home marketing sites like Zillow, Eppraisal, or the Chase home value, 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 a right price for your house and also help you to avoid making certain selling mistakes.
If you don’t want to hassle with trying to come up with a home value yourself, give us a call at (503) 334-4150 and we’ll give you an honest fair valuation of what your house is worth on the retail market. We can also 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.
Asses the market
This step is similar to conducting market research, only that in this case you are bound to your neighborhood and similar houses. Are there several houses for sale in your neighborhood in Portland? If so, what is the average price that they are listing for? Are there lots of foreclosures in your neighborhood? That may drag your house price down.
Asses the house
As a seller, your house should be in the best condition possible in order to sell at a good price. Identify certain unique characteristics about it and emphasize them during the marketing. For example, in Portland, a house with a drive way parking may be more attractive to buyers compared with one with garage parking.
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? All of these things can make the house more or less attractive depending on the buyer.
Come up with an asking price for your Portland home that is fair. It shouldn’t be so high that it’ll take 12 months to sell the house.
Use Photos or Videos
Portland buyers are obsessed with media. Taking walk-through videos of the house and using them 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.
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 from a few different angles. People want to see the house before they ever show up to see it. 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 Portland MLS And Market It
You can find no or low fee real estate brokers these days who will put your house on the local Portland MLS. This gets your house in front of all of the real estate agents quickly. 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.
Place ads in the local newspaper, signs on the roads, and hold an open house.
Does All Of This Sound Like A Lot Of Work To Sell Your Portland House Fast Yourself?
It can be.
In the end, many Portland house sellers think they’re saving money and time by marketing the house themselves when it costs them more money to go this 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 lot of time marketing your house, 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. Assume that 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 will cost you an extra $9,100, excluding the 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? This is something to think about.
If you’d rather not deal with the hassle of trying to sell your Portland house yourself and would rather just sell it quickly for a fair price without paying any commissions or fees, Portland Wholesale Property actually buys local Portland OR houses.
We’d love to make you a fair, NO OBLIGATION and NO HASSLE cash offer on your house. We can close in as little as 7 days, which would save you thousands of dollars vs. trying to sell the house yourself and waiting for months. When we buy local Portland houses, we do all repairs that are needed and pay for it ourselves so you don’t have to.
If you want to see what we can pay for your house, give us a call today at (503) 334-4150 or just fill out the quick simple form through the link below.