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Friday, February 23, 2024

How To Sell A Home Without A Real Estate Agent

Selling a home today becomes easier because of the many tools available for you. Traditionally, homes are being sold in the United States through the help of a real estate agent.  Real estate agents have the connections, tools, and expertise to sell a home fast and for a higher sale value.  But, using them comes with a price tag, a hefty commission that you might as well keep if you sell the property by yourself.

Couple with estate agent outside house put on sale

Why Sell A House Without A Real Estate Agent?

It has been an ongoing trend to sell a home without a real estate agent. Though they have connections and an established identity in their niche, there are many reasons why you may not hire them. Here are some of them.

  • No Need To Pay Commissions

Real estate agents typically get a 6% commission. Suppose the value of your home is pitched at USD$ 350,000, your realtor will get USD$21,000 for his commission. That’s a lot of money you could use for a leisure trip or your child’s college education.

  • Results In A Faster Sale

Selling a home without an agent results in a faster sale. As long as you’ve done the legwork, prepared the necessary documents, and planned well, you’ll be able to attract the best buyers willing to pay the price of your home.  You can also sell them fast through cash buyers, which will be discussed in more detail later.

  • Save Money On Home Repairs

There are cash buyers and home flippers who buy homes in whatever condition. This way, you won’t need to prettify your home to be able to market it to buyers.

If your home is old and dilapidated, it would still be real estate gold to many home flippers, especially if you’re in a valued real estate area. A home flipper is a real estate investor who buys properties, fixes them up, and sells them for a much higher price than they paid for.

For Sale By Owner Real Estate Sign and Beautiful House.

Ways To Sell A Home Without A Real Estate Agent

If you’re bent on selling your home by yourself without a real estate agent, here are ways to do it:

1. Go With A Cash Buyer

If you have a home you need to sell quickly, checkout safehomeoffer.com. They help homeowners with no obligation, which means no commission taken from your sale.  Cash buyers like them take an unwanted property off your hands.

They buy properties that are about to be foreclosed, properties with frustrating tenants that landlords can’t seem to get rid of, inherited property that doesn’t interest the heir, properties that have very little equity, and homes that need to be sold fast because of relocation.

If you go with a cash buyer, the transaction will be a breeze and you can proceed with doing what you’ve planned for the longest time. Maybe take a cruise somewhere with the family or invest your money in stocks.

Though selling to cash buyers may look appealing, the downside is they might offer a lower cash value than if you sell your home via other means.

2. Use A Real Estate Attorney

Maybe you’ve let the word out that you intend to sell your home. Somebody caught wind of it and has taken an interest. If your home is something many people are looking to buy, you may forgo a real estate agent. But, you need to take matters seriously, especially if those who took an interest are friends or family.

This is where a real estate attorney can help. An experienced attorney will be able to craft an airtight contract, ensuring every detail is ironed out and you won’t be snagged in a legal battle in the future. Since they’re familiar with the legal intricacies of a sale, they can anticipate issues and prevent them from happening.

Though real estate attorneys come at a price as they typically charge by the hour, it would be much less than hiring a real estate agent.

Hiring a real estate attorney may solve some of your problems, but you have to remember that aside from their price, they have a very hectic schedule and their time may not be as dedicated as you might think. It’s also worth noting that their services don’t include negotiating a favorable price for your home sale.

3. Sell The Home By Yourself

For sale by owner (FSBO) is another option if you want to sell your home without a real estate agent.  Many homeowners prefer to keep the commission instead of letting it go to an agent, which is pretty understandable.

However, there’s a lot of work involved like staging your home, doing an open house, printing pamphlets, and hiring professional photographers and videographers. But, if you’re willing to do the research and tackle all the nitty-gritty, you’ll be on your way to keeping the entire sale value of your home.

Selling your home by yourself could take up a lot of time and effort, but it could be very rewarding. After you’ve done the initial paperwork, marketing your property with the use of Multiple Listing Services (MLS) and social media will be a breeze, especially if you have a knack for it.  If not, you can hire a digital marketer or a social media manager for a brief period to help you expedite the process.

As selling a home by yourself could be very strenuous, you need to put your heart into it and not take rejections harshly. You need to be resilient and open-minded to be able to sell your home successfully.

Conclusion

Selling a home without a real estate agent is daunting but possible. Admittedly, real estate agents have the tools, connections, and expertise.  But, doing it without their help is something you can also do, especially if you’re willing to commit to the process from beginning to end.

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