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Leanring how to sell your house without a realtor has become one of the most empowering trends that tech-savvy people have been steering toward. Not just for the penny pinchers, even Elon Musk harnesses technology to have a successful home sale without a Realtor. Homeowners realize that as long as they can do a bit of research, use free online tools and consider how buyers are looking for homes these days, you could save $18,000 for your next home (based on a 6% commission on a $300,000 sale).
Selling a home without a Realtor requires other third parties to make it a legal transaction. However, the significant savings come from scrapping that commission. Selling without a Realtor requires gathering information about your home that buyers will be asking, like the year it was built, or the roof was replaced.
When it comes to how to sell a property, there’s one thing that selling without a Realtor can be a roadblock. Getting it on MLS – the Multiple Listing Service is crucial for maximum exposure. Millions of people are touring Zillow, Realtor.com, Redfin and more outlets that are connected to the central system. The key to selling your home without a realtor is getting it on there for free.
When going through the motions of how to sell your home without an agent, as long as you have the time to dedicate to negotiating with buyers, a small investment in your marketing, and access to a computer, you’ll be further ahead than most home sellers – agent or not.
To sell your property without an agent, it’s not as simple as listing on MLS for free and waiting for the best offer to come in. There needs to be a legal exchange of money and paperwork to follow.
Paperwork for selling your home can be divided between the necessary and the “nice-to-do.” If you’re a motivated seller, including all the paperwork possible is the best way to keep a buyer interested instead of frustrated.
If you’d like to make it easier for the buyer to be convinced that your home is perfect for them, this is some paperwork that could sway them instead of a similar home with little information:
You can sell real estate yourself, but getting the best sale price is entirely up to the marketing efforts you’re prepared to put in. Listing your home without a Realtor can go one of two ways – traditional or tech-savvy. The best way to sell your home without a Realtor – is using free online tools to amplify your home’s exposure to potential buyers.
To get a successful home sale without a realtor, you need to find the best “sell your home yourself” websites that allow you to do it for free vs a flat fee.
Alternative ways to sell your home without a Realtor include:
The most common fear from sellers that want to go on their own is, “If I sell my house without a Realtor, will other buyers that are using one still see it?” With millions of monthly users on MLS and 51% of buyers finding their home through the internet, you can feel secure that buyers will be interested, with or without their agent.
Selling your home without a Realtor gives you two unique advantages. The first, obviously, is that you’ll be saving tons of money. The second is that you know your home best from a first-hand perspective. You don’t have to worry that an agent will see this like “another transaction,” but you’ll be marketing a “home” that’s ready for its next family.
If you’re ready to put your home on the market, these are the steps to selling without a Realtor.
It’s easy, fast and simple. List your home for free with Richr with Richr’s happiness guarantee.
Yes! 46% of for sale by owners don’t even go through the marketing process once they list it. As long as you connect with a third party for escrow and title settlement, you don’t need an agent involved throughout the process. An agent might approach you with a buyer and demand a 3% commission, but you have the power to say no.
Selling your home privately has become a popular option for homeowners looking to save on commission. If this is your first home-selling experience, you may want to consult a local attorney to review any offers you’re considering accepting. If you plan on having global reach by utilizing the online MLS, you’ll need a free online tool that provides you with listing paperwork to do so.
Selling your house in 5 days takes some extra preparation and a few critical components. As long as you follow these steps, you’ll be ahead of most agents that professionally market homes for a living:
The best month isn’t as important as the best market timing. Even beautiful Junes can be a buyers’ market, depending on the economy and trends. Historically, spring months are preferred for sellers due to the shifting moods from a cold winter, blooming flowers, and owners hoping to settle in by summer.
Here is a checklist of paperwork that may be required if you’re selling a home without an agent. Remember you’d likely have to fill these out if you had used a realtor anyway:
In 21 States – it’s required by law to sell your home. If you live in any one of these, you absolutely have to use a real estate lawyer but won’t need an agent to sell your home:
Unless your transaction is complex or has any liability red flags, you don’t have to use an attorney but instead a title settlement service.
You can see a home without an agent and even earn cashback if you choose the right company to submit your offer, take care of your title, insurance and financial needs. On a $250,000 home, you could get up to $7,500.
If there’s no buyer’s agent, all you need to worry about is signing the sales contract and transferring the title. You’ll also save on a 3% commission if you’re a seller and could get cashback if you’re a savvy buyer.
If you already don’t have enough time in a day to get everything done and want a quick sale, using a Realtor may be worth the thousands of dollars. If you can spare a few hours a day until the deal is done, you’ll save thousands through the power of the internet.
The only reason you’ll need an agent to sell your home is if you’re not confident in the marketing efforts you can put behind the sale or the time behind showing the property. You don’t need an agent to sell your property, but you do need the correct documents in place.
If you’ve already signed a listing agreement with an agent, you need to adhere to the conditions of keeping it on the property. When it comes to deciding what not to tell your agent without a contract in place, you can keep them in the dark during your private sale process. You only need to tell agents any disclosures about the property when it’s listed for sale.
Real estate agents like to keep it professional by only allowing for communication through the agents, not the buyers and sellers. This is mainly to keep negotiations as emotionless as possible and not cause a personal feud that may negatively affect the sale outcome.
Selling your house without a Realtor is steadily becoming more popular, with 8% of sellers in 2020 opting for this alternative. During a study, the most challenging task for FSBO sellers was understanding and performing the paperwork. Saving thousands on commission, list on MLS for free, and have the support for your paperwork is what Richr is helping empowered homeowners do.
If you’re looking to buy or sell a house and would like to discuss your option, Richr can help you!
Our fully licensed Concierge Team is here to answer questions and provide free, objective advice on how to get the best outcome with your sale or purchase.