How can I sell my NJ home?
Selling a house fast in New Jersey can be difficult.
New Jersey has some idiosyncratic local real estate legislation and practices to deal with so read to the end to find a Quick N Easy way.
What are your options when selling a house in New Jersey?
1.) Selling via a real estate agent
When most New Jerseyans contemplate selling their house they usually think about listing with a real estate agent.
Real estate agents deal with the listing and marketing of your home and help you through the process:
- contract negotiation
Listing agents give you a comparative market analysis (shortened to ‘comps’ in the jargon) as well as pricing recommendations and strategies specific to your goals.
2.) Real estate commissions
Commission paid to a seller’s agent is usually calculated as a percentage of the final sale price of the house. The percentage of commission varies.
Full-service agents take care of:
- closing of your home.
Agents pay for marketing expenses out of the kindness of their hearts, believe it or not. On average, these agents charge a commission rate between 5-8% in New Jersey, which is shared with any agent representing the buyer’s agent. Commission rates with your seller agent can be negotiated.
The commission is paid as a part of the sale price when closing and doesn’t have to be paid upfront.
3.) Multiple listing service
The multiple listing service, or MLS, is an exorbitantly pricey piece of real estate technology developed by REALTORS® that helps brokers and real estate agents share data about the properties they represent for sale through one network.
Sellers benefit by greatly increased exposure for listed properties, while buyers benefit from quickly being able to find the perfect properties on the market to buy for their clients.
The system eases cooperation between competing agencies, brokers, and agents, thereby creating fair competition and value for all concerned.
Consumers have access to MLS listings that are published on brokers’ and agents’ websites while the MLS remains a private database that is both created and maintained exclusively by licensed real estate agents.
4.) Listing agreement
After interviewing and choosing a real estate or listing agent, you have to sign a “listing agreement”, which gives the agent the legal right to market and organize the sale of your house for you.
5.) Sell solo and cut out the agent
Usually, New Jerseyans prefer to sell via an agent, however, less traditional methods are attracting sellers in greater numbers who wish to avoid paying agents’ high commission rates (around 6%).
Selling your home yourself or for sale by the owner (FSBO) is much more difficult but if you work hard and learn how to do it properly you can save a lot of money on commissions for agents.
Homes sold by their owners usually sell faster, occasionally as quickly as a fortnight according to the National Association of Realtors’ Profile of Home Buyers and Sellers.
The DIY process is arduous so before deciding you must consider everything involved:
- staging and negotiating the sale,
- financial and legal paperwork related to the transaction (you’ll need an attorney unless you are one).
How to sell DIY style:
Get your house ready to be sold involves:
- professional cleaning,
- removing clutter,
- staging the property for visits.
Price your house competitively with real estate data on sites like Zillow and Redfin. Conduct your own market research to find similar houses and then price yours comparably to those that not only represent your home but also sold at a speed convenient for you.
Invest in a flat fee MLS listing service in New Jersey to expand the reach to prospective buyers locally and nationally.
Put together a marketing plan. It’s worth listing your house in diverse places:
- in classified ads and platforms,
- local newspapers,
- social media,
- create a website to digitally upload pictures, videos.
However, if all that seems a bit too complex then here’s another way to sell your NJ house fast.
Right here you will find a Quick N Easy Offer from a helping hand.