Option 1: Sell Your House Online with Help from a Real Estate Agent
To get the most exposure for your house online, you must get it on the multiple listing service, or MLS. The MLS is an online database of all the homes that are being sold by a real estate agent. Only licensed real estate agents can post photos and details of a home onto their local MLS. This ensures that the information is trustworthy and up-to-date.
Other real estate agents who represent homebuyers rely on the MLS to find properties for their clients, and now thanks to real estate search sites like Redfin.com, anyone can browse homes that are listed on the MLS. That’s why getting your home on the MLS is so important to sell your house online; it’s the most widely used and trusted source of real estate information.
There are some websites that charge a flat fee to list your home on the MLS, without signing a contract with an agent, however that is the extent of their service; they won’t help you prepare your home to sell, or promote it once it’s online.
Save on Commission Fees When you sell your home using a Redfin Agent, you’ll pay a fee of 1%-1.5% of the final sale price of your home. Your Redfin Agent will schedule a free professional photo shoot of your home, so that the MLS photos make a great first impression among potential buyers. In addition, your home will be displayed prominently on Redfin.com, and will be emailed to Redfin users; offering maximum exposure online. That’s in addition to traditional marketing activities, like open houses, fliers and a “for sale” sign for your yard.
Option 2: Sell Your House Online Without a Real Estate Agent
When you sell your home without an agent, it’s often called for-sale-by-owner, or FSBO. If you don’t have an agent, you can use services that charge a flat fee to get your home on the MLS. There are other sites dedicated to for-sale-by-owner properties that will also charge a fee to advertise your home online. In addition, you can upload photos and information on your home for free to sites like Craigslist, however the audience is limited.
You should be aware that if you sell your home by yourself, you’ll still need to pay a real estate commission fee; it goes to the real estate agent who represents the person who buys your home (unless they’re working without an agent as well). The fee is typically 3% of the final sale price of the home. That means what you’re really saving by selling it yourself is the commission that would go to your agent, which ranges from 1%-1.5% at Redfin, to 3% at other brokerages. Calculate how much you'll pay in commission.
Keep in mind that a real estate agent will help you pick a price for your home based on how your home compares to others in the market, and how competitive the real estate market is in your area. They’ll create a selling strategy and negotiate on your behalf to ensure you make the maximum amount of money on the sale of your home. They’ll also handle all the legal documents and appointments to make sure the sale goes smoothly. And when you work with Redfin, you’ll get additional exposure online.
Resources for Selling Your Own House Check out more information on how to sell your home without an agent, or get more information on how you can sell your house with an agent but still save money on commission.
How to Market Your Home for Sale Online
The more websites your home is listed on, the more potential buyers will see your property. There’s no harm in listing your house on several online platforms and services, such as the MLS, Craigslist, and even Facebook. Write a compelling description that highlights the main selling points of your home, such as your updated bathroom, granite countertops, or new windows and siding, and include a series of photos that show off the beauty of your home.
Stage Your House: Be sure to clean and declutter before you take the photos (or have them taken by a professional photographer, which is even better).
How to Sell Your Home Online for Free
The only way to sell your house online for free (without paying any kind of commission or marketing fees) is to find a buyer who isn’t working with an agent, either by advertising your home on free websites, or by finding them through your network. Keep in mind this will limit the number of people who see your home, which could reduce how much someone offers for it, because there’s less competition. If you go this route, most agents recommend that you at least have a lawyer review the paperwork to make sure you are protected in the transaction and that you are properly transferring ownership of the property. Some real estate attorneys charge a flat fee for this, while others charge an hourly rate.
Questions? For more advice on how to make the most money from selling your home, get in touch with a Redfin real estate agent.