Even though working with a realtor to help you sell your house has its advantages, the main impediment—the cost you’ll pay in commission fees—might make you reconsider. Some real estate agents can take up to six percent of the selling price of a property and if you’re also in a position where saving money is crucial, spending tens of thousands of extra dollars in fees, and closing costs won’t make you happy. Even if you don’t need to save, considering what you could do with that cash can make you doubt about using an agent.
How to Sell Your House Yourself
Selling your house without paying commission to a real estate agent, however, involves you’ll presumably have to sell it yourself. Because commission fees are how realtors make their money, and just a few, if any, will work for free. Even though this option is usually difficult, it’s absolutely not impossible. To show you, we’ve laid out the necessary steps you need to take to sell your house fast and without the help (and costs!) of a real estate agent.
Get your property ready to sell.
Whether you choose to work with a realtor or not, preparing your property to be listed on the real estate market will be job number one in attracting most buyers. That means you’ll probably have to clear away clutter, clean the home from top to bottom, and perform some minor repairs—at the very least. Potential buyers like to imagine how their life would be if they buy your home; that is why real estate agents recommend hiding personal items like your favorite throw hanging over the couch or the family photos nailed up on the wall.
One of the common tips real estate agents give is to stage the house to create an open feel and make room for visitors to move around, which will increase your home’s appeal. And, if you truly want to go all out (and, probably, consequently sell at a higher), consider doing the major repairs like replacing that leaky roof.
Advertise your house.
One of the main tasks that usually realtors take control of, and is one of the reasons why they often charge so much, will now inevitably fall to you: advertising. The truth is that to reach the maximum number of potential buyers and motivate them to make an offer, you will have to market your house. The more places you can do this, the faster you’re likely to sell, too.
Take calls and hold showings.
If you choose to sell your house without the help of a real estate agent, you’ll have to make sure you will have the availability to take calls from potential buyers and their representatives as well as show them the property. Buyers usually have questions and, to motivate them to make a decision, you’ve got to be available as much as possible.
What may be the most complicated, even stressful, task to tackle is negotiating a contract once you’ve received and accepted an offer. If you do not have the knowledge, the legal terms you’ll encounter can get you into trouble—if you misinterpret the language and, consequently, don’t fulfill agreed-to obligations accidentally.
Unless you can sell your property directly to someone who doesn’t have a real estate agent, you will have to pay for the realtor who brings you your buyer. That commission can be approximately two to three percent of the final sale price. At least, that’s what the buyer’s real estate agent will probably expect.
As all agents are paid on commission, your agent would share their fee with whoever helped close the sale in a conventional transaction. Without someone representing you, that responsibility becomes yours.