It is possible to sell your home without a realtor; it is not necessarily more difficult. We don’t advise it unless you have a decent alternative.
A real estate agent’s duties in selling a house are:
- Assist you in establishing a reasonable price based on recent market trends
- Aid you in getting ready to sell the house
- Give the house advice on improvements, repairs, and home staging
- Place the home up for sale
- Promote the home
- Plan and coordinate showings
- Streamline discussions
- Finish the documentation
You can complete these duties yourself if you’re well-organized and dedicated, but you’ll need to be prepared and knowledgeable.
Why Should I Sell My House Without a Realtor?
American house sellers pay real estate commissions of about 3%-6%. That could purchase you a new truck, pay for your child’s college education, or take you on an exotic vacation!
By selling your own home without the help of a realtor, you can avoid paying these exorbitant commissions.
Pros and Cons of Selling a House Without a Realtor
It is vital to be aware of both the benefits and risks of selling your home yourself.
Pros
- Commission Savings
If you sell your home without a realtor, you may save between 2.5% and 3% on the commission.
- Speed to Close
Real estate investment companies such as Falcon Home Buyers can buy your house very fast and close within 2-3 weeks.
- Control Over Transaction
You eliminate middlemen by dealing directly with the buyer or buyer agent. This speeds up and simplifies the process.
Cons
- No MLS Access
Only registered agents and brokers have access to the MLS platform. You cannot list your house on the MLS if you are selling it without the help of a real estate agent.
- Poor Customer Service
Selling a property without a realtor might become expensive if you don’t obtain assistance when needed. You should be ready to answer questions and guide interested buyers anytime they call to make inquiries. This is not an easy skill to develop.
- Complexity
Real estate brokers typically handle the complicated paperwork. However, doing it yourself means you have to deal with the complexities too.
What Are the Ways of Selling a Home Without a Realtor?
- Sell Your House for Cash
Cash home buyers are investors that make upfront cash offers on properties. They assist homeowners in avoiding the burden of MLS listing and many other things they might have to handle without a realtor.
Falcon Home Buyers is an example of such a buyer in Atlanta. You receive offers after providing your information on their website, falcon-homebuyers.com. Closing then takes place in as little as two weeks.
Homeowners in severe need of liquidity find these cash home purchases enticing due to the timeliness of the sale.
- Include Property in an Online Listing
It’s now simpler than ever to sell a home without a real estate agent due to the popularity of these services that let sellers advertise their properties online.
These online listings are popular, getting thousands of visitors a day. They allow visitors to accurately search houses for sale based on location, number of rooms, etc.
Even though there are several sites, most sync their lists to create a standardized directory online.
- Pure FSBO
It’s a do-it-yourself strategy without a listing agent. Although they have complete control over the procedure, sellers handle all the paperwork without supervision.
Consequently, there are disadvantages to selling your property alone. You can avoid paying a commission by selling FSBO. However, you will have to handle everything from listing to closing yourself.
Conclusion
Housing data in the United States show that homeowners pay over $80 billion in real estate commissions to realtors who help them sell their properties.
Recent surveys show that sellers are worried about earning the best possible returns on their houses for sale. No wonder most are exploring how to sell their homes without a realtor.
However, everything has drawbacks, including privately selling your property. It involves a lot more work than many homeowners anticipate.
Selling your home without a realtor might be worthwhile if you have some marketing expertise and are mentally prepared for the hardship you have to endure. This is why you should consider cash home buyers.
They offer the right balance between pure FSBO and Realtors.
This article is meant for informational purposes only. We recommend consulting with a professional advisor regarding your situation.
