The average real estate commission is 5-6%. Do you really want to give away 5-6% of the selling price of your home just to have it listed on the MLS? It is easy to sell a house without a realtor if that’s your preference.
In this article, we’ll give you the necessary steps you’ll have to take in order to find the right buyer.
By following these simple steps, you can save yourself thousands of dollars in commission fees. Not only will you be able to sell your house quicker, but you’ll also receive a higher price for it.
Follow our guide to selling your house without a realtor and start packing for your new home today.
Can I Sell a House Without a Realtor?
The answer is yes! There’s no law or regulation stating that you must use the services of a real estate agent to sell your home. In fact, many people choose to go the For Sale by Owner (FSBO) route every year.
If you calculate the commission fee for a real estate agent at 6%, selling a $300,000 home will see you paying the agent $18,000. While it is possible to sell your home without using a realtor, it is important to be aware of the pros and cons before making this decision. For example, if you’re selling a home that needs some repairs, it may be difficult to find a buyer who is willing to pay your asking price.
Additionally, if you live in an area with a lot of houses on the market, it may take longer to find a buyer. However, if you’re selling a home that is in good condition and you live in an area with few homes on the market, these shouldn’t pose any problems for you.
Why Sell Without Using a Realtor
The most obvious reason to sell your house without a realtor is to save on commission fees.
Another reason to sell without using a realtor is that you’ll be able to sell your home faster. By not having to go through the process of listing your home with a real estate agent, you can put your home on the market immediately and start receiving offers from home buyers.
Finally, by selling your house without a realtor, you’ll have more control over the sale process. You’ll be able to set your own asking price and decide when and how to show your home.
The Drawbacks of FSBO
Now that you know some of the reasons why you might want to sell your home without a realtor, let’s take a look at some of the drawbacks of doing so.
First, it can be difficult to find the right home buyer without the help of a real estate agent.
There’s also the possibility of not receiving as high of a price for your home without the help of a real estate agent.
Finally, you will have to handle all of the house showings, paperwork, and negotiations yourself.
Selling a house is a big decision, so be sure to weigh the pros and cons before you decide whether or not to use a real estate agent.
How to Sell a House Without a Realtor
Decided to go ahead with an FSBO? Here are the steps you’ll need to take in order to sell your home without an agent.
1. Prepare Your Home For Sale
The first step in selling your home without a realtor is to prepare your home for sale. This includes making any necessary repairs, decluttering, and staging your home. By taking the time to do this, you’ll attract more buyers and get a higher price for your home.
2. Set Your Asking Price
Once your home is ready for sale, you’ll need to set an asking price. To do this, research recent similar sales in your area and compare them to your own home. You should also consider the current market conditions in your area and what buyers are looking for.
Hiring an appraiser is a great way to get an accurate estimate of your home’s value.
3. Take Great Photos
Take great photos or hire a professional photographer. Good photos are essential for getting buyers interested in your home.
4. Market Your Home
There are a number of ways to get the word out there, including online listings, yard signs, and open houses. By using a combination of these methods, you’ll be able to reach the widest audience of potential buyers.
The most common way to list an FSBO is through an online real estate platform. An MLS listing is still an option, although you will have to pay a fee to list your home. When you list your home on one of these platforms, your listing will be seen by millions of buyers who are searching for homes in your area.
5. Show Your Home
Once you start receiving interest in your home, it’s time to start showing it. Decide whether you’re available to show your home during the day, evening, and weekends. Know the answers to any questions potential buyers will pose about your home.
Show your home by appointment only to pre-qualified buyers. This will help you avoid wasting time with people who are not able to purchase right away.
6. Negotiate The Sale
Once you’ve found a buyer who is interested in your home, negotiate the sale. This includes discussing the price, repairs that need to be made, and the closing date. By negotiating directly with the buyer, you’ll save on commission fees and get the best possible price for your home
7. Confirm a Buyer’s Financials
It’s important to confirm that the buyer is financially able to purchase your home. This includes asking for a pre-approval letter from their lender and verifying their employment status.
8. Close The Sale
Here, you’ll sign a sales contract and transfer the deed to the buyer. You’ll also need to pay any closing fees that are due. Once the sale is complete, you’ll have successfully sold your home without a realtor!
Will I Need to Hire an Attorney?
While it’s not required, it’s always a good idea to have an attorney review your sales contract before you sign it. This will help to ensure that everything is in order and that you’re protected in the event of any legal issues.
Hiring an attorney will also help to ensure that the closing process goes smoothly and that all of the necessary paperwork is filed correctly.
There are a few laws that you should be aware of if you’re selling your home without a realtor. These laws vary from state to state, so be sure to check with your local government to see what applies in your area. This is also why it’s a good idea to have a lawyer on your side.
Is It Difficult to Sell a House Without a Realtor?
It can be more challenging to sell a house without the help of a real estate agent, but it is not impossible. You will need to take some extra steps to market your home and find a buyer, but it can be done.
The safety of selling your home without a realtor depends on a number of factors. One of the most important things you can do to protect yourself is to screen buyers carefully. You should also avoid showing your home to anyone who seems suspicious or doesn’t seem genuinely interested in purchasing your home.
Can I Be Held Liable For Anything?
You can be held liable if you fail to disclose certain information about your home, such as known defects. It’s important to be honest with potential buyers and to disclose any information that could affect their decision to purchase your home. This is why it’s important to have an attorney review your sales contract before you sign it to ensure that you’re protected in the event of any legal issues.
What Paperwork Do You Need to Sell Your Home?
The paperwork you’ll need to sell your home without a realtor varies depending on your state and local laws. In most cases, you’ll need to sign a sales contract and transfer the deed to the buyer. Be sure to check with your local government to see what is required in your area.
Ready to Sell Your House?
The decision to sell a house without a realtor is a big one. Make sure you’re prepared for the process by doing your research and understanding the risks involved. If you’re ready to take on the challenge, we’re here to buy.
The team at We Buy Houses is ready to purchase your Arizona home no matter the condition. We’ll make you a fair cash offer and close on the sale when it’s convenient for you. Contact us today to sell your house!