Selling your house without a realtor is an option, a valid one. However, not too many people are familiar with this possibility.
When selling a house, many of us only consider listing house with an agent or selling by owner. You can list a home on the MLS, and you can sell your home by owner, but these two are not the only options out there. You can also choose to sell the house directly. We’ll come to that later.
First, let’s see which option works in which situation.
A real estate agent lists your home on the MLS. He provides marketing services and assists with various aspects of the sale process such as negotiations, paperwork, and the closing.
When you list the property with a realtor, and you try to sell a house in the retail market, you have to do a few things.
First of all, it’s almost impossible to sell home as-is in the retail market. Millennials have entered the market, and it’s the most different generation in the real estate purchase sector. Instagram, Pinterest, and designer interiors inspire our buyers. When they are purchasing their family house, they expect modern interiors, the latest amenities, and design. If you’re selling an old house, you’ll need to make lots of repairs before you can list the home on the MLS.
Your real estate agent will suggest the same.
It’s possible to sell the house by owner. The process can be challenging and time-consuming, but if you accept the challenge, you can get help and sell your home without spending thousands of dollars.
To understand the process of selling a home by owner, you first need to understand the services of a real estate agent. The first and topmost priority is to get your home listed on the MLS. You can purchase that service for a flat fee. Search Google, “flat fee MLS in your area,” and you’ll see sites that can get you this service.
Another critical role of an agent is to help you with negotiations and paperwork. If you’re not comfortable with negotiations or the legal paperwork, you can hire an attorney for this job. A real estate attorney can help you with the closing and can also review the paperwork for you.
The problem with FSBO transactions is that you’ll need to repair your house. Get the home market ready since you’re planning to sell in the retail market. You’ll need to focus on minor & major repairs. Enhance the curb appeal. Improve the interior. At the least, fix minor issues, repaint the house, and improve the curb appeal — all of these repairs cost time & money. You’ll have to pay this money before you have sold your home.
The next part is to market the property. A realtor gets this done by using social media marketing, MLS listings, and open house events.
You can get started with Craigslist ads, yard sign marketing, social media advertising, and so on. You can also arrange an open house event yourself.
Selling home by owner and listing with a realtor are possible choices. However, these options don’t work when you are short on time and want to sell house as-is. Listing home with an agent requires you to make the necessary repairs, and it is also going to take a few weeks. Listing house on the MLS requires you to pay the 6%-8% commissions. If you’re going to sell home by owner, you’ll need to renovate the house. Both repairs and marketing will take time, and you don’t know when you’ll finally sell the home. However, you’ll save the commissions.
These solutions don’t work in some situations. If you’re relocating, are going through a divorce or facing foreclosure then FSBO or MLS listings don’t work for you. You need to work with a reputable real estate solutions firm that can buy your home as-is for a cash price. It’s going to be a guaranteed sale of your home without the hassle.