When you hire a real estate agent, they typically take 6% of the sales price of the house. On top of that, selling a house often entails making repairs, repainting, landscaping, and closing costs.
Once you add all that up, it can make a serious dent in your profits. For this reason, you might be starting to look into “how to sell my house without a realtor.”
There are a number of different options when you want to avoid paying real estate agent commissions.
Let’s take a look at three different options so you can determine what route makes the most sense for you.
Sell Your House For Sale By Owner
Many people who choose to forgo hiring a real estate agent assume that they will be able to make more money since they won’t have to deal with realtor fees. However, you are statistically likely to profit less if you sell FSBO than if you hire a real estate agent.
There are a number of reasons why for sale by owner houses tend to sell for a lower price. These include:
- The real estate agent of buyers are often more skilled at negotiating than FSBO sellers
- FSBO sellers tend to either price their home too low, meaning they lose out on money, or too high, meaning their house sits on the market
- FSBO sellers might struggle to efficiently deal with issues revealed by the home inspection report and might make too many concessions or be too stubborn in negotiations, leading buyers to walk away
When you sell FSBO, you are taking on the responsibilities of a real estate agent. This means being available at all times to deal with inquiries and responding promptly to phone calls and emails. It also means getting the house ready for showings, conducting showings, marketing the home, and hiring a real estate photographer.
Many people don’t realize that selling a house on your own on the open market is basically like another job. While some people who are real estate professionals might find these responsibilities to be second nature, for many people it’s a bit too much to handle.
Sell Your House to Someone You Know
If you already have a buyer lined up, you can avoid hiring a real estate agent and simply hire a real estate attorney. While this can help save you money on realtor fees, it’s important to understand that business deals with friends, relatives, or neighbors can turn a good relationship sour quickly.
If you’re going this route, you’ll want to make sure you get everything in writing. Otherwise, what seemed like a great idea from the start can end up being a disaster both financially and on a personal level.
A real estate lawyer will be necessary even if you don’t need to hire a real estate agent. There are a lot of legal documents involved in transferring property, and you’ll want to hire someone who is experienced in interpreting and completing all of the necessary paperwork. Some states actually require that a real estate attorney is present at property closings even if you aren’t using a real estate agent.
Sell to a Cash Buyer
If you’re staying up late wondering “how do I sell my house fast?” then you’ll want to learn about the option of selling to a cash buyer. This is by far the fastest way to sell a home, as you don’t have to deal with a buyer who is purchasing the house with the help of a lender.
Cash buyers are individual investors or entities that will buy your house outright without financing. This means that the sale process can happen significantly faster, letting you get rid of your property quickly and move on with your life.
There are a number of advantages to selling to “we buy houses” companies or other cash buyers. For one, you don’t have to deal with the expense of making repairs, cleaning, staging, and dolling up your property. On top of that, you can skip the stress of home showings and open houses.
Additionally, many delays in home purchases occur due to issues found during the inspection. While traditional home buyers might negotiate to have you do additional work or lower the sale price, cash buyers often won’t require you to complete any of the necessary repairs. Others won’t even require an inspection at all.
Many people are surprised to learn just how expensive it is to sell a home. You might find yourself googling things like “sell my house with no closing costs.” When you sell to a cash buyer, you don’t have to deal with any of the closing costs that are typically associated with selling a home.
If you’re wondering “how to sell my house fast without a realtor,” then selling to a cash buyer might be the right route for you. They likely won’t pay the same amount that you would get for the home on the open market, but you also don’t have to deal with real estate agent fees and you avoid the headache of selling your property through the MLS.
How to Sell My House Without a Realtor: Get a Cash Offer on Your House Within 24 Hours!
As you can see, the answer to “how to sell my house without a realtor” has a number of different options. That being said, there are some serious drawbacks to both selling your house FSBO and selling your house to someone you know. If speed and convenience are important to you in selling your property, you might consider selling to We Buy Houses Memphis.
Are you wondering how much a cash buyer would purchase you’re home for? Click here to get a cash offer within 24 hours!