Are you wondering how to sell a property without an agent to save money? What things will you need to do that an agent normally does? Do the pros outweigh the cons? What are the alternatives?
What You Must Do When You Sell a Property Without an Agent?
Believe it or not, listing agents work for their money. Without a realtor, you must take on the tasks they would normally handle. Here is a list of the most common items on that to-do list:
Researching and setting the sale price
It is important to know the realistic value of your home compared to others currently in the market. Leave emotions out of it and focus on facts. Some “for sale by owner” fsbo sellers hire appraisers for an estimate. Occasionally, if you opt for a home inspection, they may provide an idea of its current value.
Marketing the home for sale
You need to do more than plant a sign on the front lawn if you want to attract potential buyers. To advertise, you must create a detailed description and take attractive photos. Then you need to pay to publish your ad on a home listing like MLS (multiple listing service). Other companies charge a flat fee to take care of listing your home without an agent.
Showing the home or holding an open house
An agent will normally advise you how to prepare your home, so it looks its best when others come to view it. That can mean decluttering, cleaning, staging, and even making significant repairs if deemed necessary. An agent knows the market and understands what it takes to compete.
Once it’s ready, they set appointments for viewings or schedule open houses for other agents and prospective buyers. Without an agent, you must handle all those interactions.
Negotiating the final price and closing details
When it comes time to sell your home, without an agent, you must review all offers to purchase and negotiate all details like inclusions, exclusions, closing dates, etc.
Handle legal and financial paperwork
The volume of paperwork can be daunting. Necessary documents include:
- Offer and Counter Offer forms
- Residential Property Disclosure form
- Residential Sales Contract
- Third Party Financing Addendum
Other documents which are nice to have in order and available to avoid delays include:
- List of items separate from the house, but you may include in the sale
- Rental Agreements
- Renovation and Repair, Utility, and Tax bills
- Home Inspection Certificate
- Banking Information
Once you have a signed agreement, the paperwork continues. Lenders must approve loans that often require proof of insurability, and you must complete a title search. If you are selling your home with or without an agent, it is always a good idea to have a lawyer review the paperwork.
Pros and Cons When You Sell a Property Without an Agent
The major reason for selling your home yourself is to save money. Selling a house without a realtor eliminates the need to pay the agent’s commission when they sell your house. But remember, if the people who buy your house are using a real estate agent, you may still need to pay that commission depending on what you negotiate.
After seeing the list of tasks agents perform, maybe they are worth the thousands of dollars they earn to complete the real estate transaction from beginning to end. An agent saves you a lot of time, energy, and hassle by doing these things for you.
What if there was another way to save money AND save time, energy, and hassle? Selling privately eliminates both the commission and much of the additional work to prepare your home for sale. Check out this option and other alternatives for selling your home.
Tips for Homeowners Who Sell a Property Without an Agent
MJS Properties can help
If you are at the early stages of considering the sale of your home, call us. We would be happy to provide information about your specific property to help you make informed decisions. We can help with market research and establishing a realistic price and advise you about what’s needed to compete with other homes in the market. No commitment or commission – we’re here to help.
What’s the catch? There isn’t one. We are looking for homes for sale BEFORE owners have spent any time, effort, or money. Our business model is to help homeowners keep as much of the value of their home in its current condition as possible. We earn profits from doing the work you don’t have to. If it’s not a good fit for our projects, at least you more information that you did before you called.
