There is a growing trend of entrepreneurs doing everything they can to avoid using a real estate agent as part of the selling process for their homes. This is because there are many websites out there that offer homeowners the ability to sell their homes on an easy-to-use interface without the need for a massive commission structure.
The website Zillow displays statistics that show an increasing rate in the number of people who prefer not to use realtors, however when all is said and done only 8% (when using this particular service) choose not to hire one.
Can I Sell My Home Without a Realtor?
The short answer to this question is yes. You can sell a house without a realtor, but this process does have some factors that you will need to take into consideration to complete the home sale in an efficient manner.
If you are selling a home without the help of a realtor, it’s critical to keep in mind all of the things that your agent would normally do for you. Because selling a home is an emotionally and mentally draining process, here are some activities that typically take place during and after the contract period:
- Help you determine a realistic price based on current market trends.
- Help you prepare the home for sale
- Provide advice for repairs, upgrades, and home staging for the house
- List the house for sale
- Market the house
- Schedule and organize showings
- Facilitate negotiations
- Finalize the paperwork
How to Sell Your House Without a Realtor
Selling real estate without a realtor is conceivable provided you have the correct amount of experience under your belt. Here’s a closer look at what it will take for you to make it happen:
The Prep Work
When people are selling their house, they feel like they need to leave something behind in every room. In order to make sure you keep your home moving, all around it is important to start getting rid of things that you won’t want to be taken with you to your next home — which is why the first thing we talk about here is cleaning up the many rooms of your home.
An open and organized space makes the overall vision of what the buyer will get out of this purchase more immediately clear. Taking time before putting a “for sale” sign into the front yard helps make people trust you a lot more (or at least as much as can be expected from someone shopping for real estate).
A cheaper option for selling your home may available. Only invest in repairs that will help your home sell faster or for a better price.
While the Home Is On The Market
Once the home is listed, start inviting interested buyers in for showings. Be cautious to protect yourself and verify potential buyers by asking for driver’s license numbers. Put the second key in a lockbox outside of your property so that potential customers can enter with the help of their real estate agent or broker (if they happen to be represented). Consider hosting an open house where you can meet people who happen to be interested in viewing your property as well as may also want to put in an offer for it should they like what they see during the showing.
When someone comes about to buy a home, take the first offer that you think is fair. You could counteroffer, but it is not necessary. Also, be ready to negotiate. Make sure not to agree to an offer that seems too low or unfair and keep holding yourself accountable in the search for your ideal home!
The Legal Side
Once you have agreed to sell your house, sign all the appropriate legal documents and take care of making sure it’s in compliance with Federal laws regarding home sales. You must be certain not to discriminate if a buyer is looking for a specific kind of property like the color or age of residence. In some cases depending on other circumstances, the closing costs will fall under your responsibility but you can set this up explicitly in your purchase agreement.
“Can I Sell My Home Without a Realtor?” May Not Be the Right Question
Selling FSBO (For Sale By Owner) will save you thousands of dollars, but this may not be the right approach for all homeowners.. Do you want to save money and keep your sanity? Perhaps it’s time to let go of the DIY attitude and team up with someone like Mike buys any house and can take care of everything from brokering the sale to smooth sailing through closing day.