An Investor's Guide For Selling Your Home

Whenever I sell my own home it occurs to me that other people don't have the same skill set that I enjoy after many years as a real estate investor. It's easy for me now because it's so familiar. That doesn't mean every home is easy to sell, oh no, some take a lot of work and a lot of time goes by before the right buyer comes along when selling a house, but that's just how it works in the marketplace. Some homes don't fit the average buyers' expectations and so they may take a lot longer to sell. Once I had an old five bedroom home that only had one bathroom. I renovated it with new paint and carpet, making sure all the utilities and appliances worked, as well as making any needed repairs to the roof and the interior of the home. But let's face it, not just everybody has a use for five bedrooms without at least two bathrooms. But to the right buyer, perhaps a do-it-yourself type homeowner who could install another bathroom himself, the house represented an excellent value. Of course I sold it eventually, after some time went by.

In my business, I normally consider how I'm going to sell my home even before I purchase it. But that's not a common practice for homeowners. When we're looking at a home for our residence we simply cannot make the transition to seeing it as an investment, too. We get caught up in more emotions such as pride and even fear of loss, so our buying decisions are always colored a little bit when we are purchasing a property for our own home. Over the years I've learned to set those first thoughts aside and push myself to see a property as though I'm looking to sell it and not to buy it. I'm thinking about who I could sell it to when the time is right. This is a very important part of the thinking and planning process for a real estate investor, and I'm suggesting it can work for you as well.

When people ask me, "Leo, how can I sell my own home?" there is one primary piece of advice I share. And here it is - go ahead and run ads online and have open houses to market your home yourself, but then get a professional to help you close your transaction. Unless your buyer is paying cash, which is not common, get a real estate agent to help you so your buyer gets through the financing process and your sale actually closes. That's my advice from many years of learning how to sell my own home.

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