Can I Sell My Home Without an Agent?
Selling your house can be one of the most challenging undertakings you’ll take as a homeowner. And once you factor in all of the extra costs of getting your home ready to list and working with a realtor, you can end up with less money than you originally hoped.
Although 6% in commissions to a real estate agent may not sound like much, it can come out to a sizable chunk depending on your home’s selling price. And even though it may seem like a realtor can sell your home faster, experts note that homes listed as “for sale by owner” tend to sell much faster.
On the other hand, selling your home without the help of an agent can mean the homeowner has to invest in the work a realtor would have otherwise handled. If neither of these options sounds appealing to you, you may find yourself wondering if there’s a better way. In this post from Bill Buys Houses in Minnesota, we’ll break down ways to sell your house with or without an agent. Give us a call to learn more about how to sell your house fast!
Benefits of Selling Without an Agent
There are plenty of valid reasons to consider selling your home independently without the help of an agent, especially if you’ve inherited property or need a hassle-free sale fast. Selling your home can be a stressful process, and working with an agent adds another layer of pressure into the mix. These are just a few of the reasons homeowners cite for selling their homes with a real estate agent:
1. Realtors’ Fees
Remember that 6% fee? It may not sound like much, but it can add up to tens of thousands of dollars in commissions. In fact, agents’ fees are cited by homeowners as one of their top reasons for selling without an agent.
When you work with a real estate agent, you are only one of the agent’s clients, whereas when you sell your home without an agent, you can prioritize the time and commitment that goes into selling it.
3. Control Over the Sale
Working with a real estate agent can be frustrating if you disagree on the agent’s marketing strategy, pricing, and other key decisions. When you sell your home independently, you can skip the hassle of working with an agent. At the same time, you’re also taking on all of that responsibility and missing out on their experience.
Challenges of Selling Without An Agent
One of the biggest problems with selling your house without an agent is that it’s easy to underestimate the challenges of selling a home. These are a few of the biggest challenges you’ll face when selling your house without paying an agent:
1. Legal Documents
A home sale requires loads of paperwork and legal documentation. Although you can find some of this information online, it is safer and smarter to work with someone who is familiar with some of the legal issues you can encounter.
2. Marketing Concerns
If you decide to skip the real estate agent and go it alone, it can be difficult to get the word out about your home. A real estate agent will handle advertising and make sure your home is listed. However, if you choose to sell your home without an agent, you’re on your own with the cost and elbow grease of listing your home.
3. Photography and Staging
It is incredibly easy to overlook the importance of staging and photography when listing your home without an agent. Poor staging can make it hard for potential buyers to visualize the potential of a home or even make a home look less appealing.
Once a home has been well-staged, it’s important to hire a quality photographer. Your photographer needs to capture the size of each room as well as the best features of the home. A real estate agent will have photographers on hand to work with. But if you list your home without an agent, you’ll need to pay for this service out of pocket.
4. Poor Listing
Every well-staged home will need a good listing. A real estate agent will be familiar with the keywords and language that will attract buyers and feature the home’s best qualities.
Real estate agents look at pricing in objective terms. They’re concerned with details like market conditions and how recently the home has been updated. They may also consider the size and location of the home and compare it with similar homes in the neighborhood. And unlike homeowners, they don’t have the personal connection with the home that homeowners have.
On the other hand, homeowners have an emotional connection to their homes that can interfere with their objectivity. One of the most common mistakes made by homeowners when selling their homes without an agent is to overvalue their homes due to this personal connection. One solution is to hire an appraisal expert for an additional expense.
Sell House for Cash: The Alternative That Works
Although the idea of selling your home without an agent can seem like a great idea, in reality, this approach fails more often than it succeeds. Industry experts note that more than 90% of homes listed “for sale by owner” end up getting listed with an agent.
But did you know there is an alternative to listing your home with an agent that lets you skip the hassle and get the cash you need fast? Companies that buy houses for cash will give you an offer fast so you don’t have to deal with all of the commissions, legal issues, and stress of a sale.
Are you ready to move on and skip all of the red tape that comes with real estate agents and banks? Contact us at Bill Buys Houses or call us today at 651-270-9191.