3 Options For Selling Your Home Without a Realtor
The home selling process can feel incredibly stressful and daunting. That’s why many people decide to let a realtor work for them to help them handle all of the associated tasks and chores that come with making a home sale-ready. However, doing so means less money in your pocket when you have to dole out realtor commission fees and more. You can go with selling your home without a realtor instead. You have three options for doing so.
First, Consider the Reason You Need to Sell
The reason you need to sell may play a role in the route you choose to go. If you’re facing foreclosure, for example, you may need to make a sale happen fast so you can pay off what you owe and quickly find a new place to live. Selling to a property investor may be the route to go in a case like this.
If you have plenty of time and simply want something different or to downsize, then making the sale by owner might be the right choice.
Marking it “For Sale By Owner”
You’re always able to sell your home by yourself. Put up a sign that says “For Sale By Owner” and see how many hits you get. You’ll save money on realtor commission fees if you go this route.
However, you need to be aware that this option requires a lot more effort on your part. You will have to:
- Do your own market research to set an appropriate price
- Advertise your home sale
- Get your home sale-ready
- Make any necessary repairs
- Schedule and prepare for showings
- Pay for inspections and appraisals
- Negotiate with the buyers
There is no middle man. You are responsible for every step of the process. You need to be prepared for and aware of all of the duties that come with it. You may be saving on real estate agent costs, but how much it costs to sell your home may be far more than you realize.
The first step, tackling market research, is often the most difficult. You’re no expert, after all. You’ll need to look at not only what homes are currently selling for in your area but also how much they may go for down the road. You may make a bigger sale if you set your prices accordingly and make changes to make the home more enticing to buyers. If you live in one of the top states where people are moving, you may be able to get even more out of your sale.
Advertising is also key. Sticking a sign in your yard and calling it a day doesn’t always work, especially if you’re in an area that doesn’t see much traffic. You need to post the home online with photos included to gain more interest.
Posting it to your own social media pages may help slightly, but unless you know of family or friends who are looking to buy, you’ll have to post elsewhere as well. If you aren’t getting much interest, create a post on a home sale site or even a general classifieds site.
Selling to a Property Investor
Another option is to sell to a property investor. This choice simplifies things for you from selling to a traditional buyer. You can sell the property as-is without worrying about making repairs or changes to the home first. You’ll also, of course, skip the realtor commission fees. Many people choose to go this route because of how convenient it is.
Property investors may still need to obtain a loan in order to make the investment. If that’s the case, you’ll still have a bit of work cut out for you. You may need to pay for an appraisal or closing costs to get the sale to go through.
A cash buyer is a much better option. Also be aware, that many property investors will attempt to lowball you on the price, offering far less than what the home is worth since they’ll have lots of repairs to make to sell it for a large profit.
Selling to an iBuyer
Your third option is to sell to an iBuyer. This is the most convenient choice of all. There are no realtor fees, no repairs that need to be made, and no showings to schedule. You get to close when you are ready, and not a moment sooner.
Selling to an iBuyer means maximizing your cash flow. You get to keep more money in your pocket without having to shell out any for changes to the home or worrying about appraisals.
Many of these buyers have cash on hand, ready to offer you payment for the home. This makes the transaction quick and painless. Because an iBuyer will typically turn around and sell the home to another investor, you may be able to leave belongings behind as well. You don’t have to pack up every item and clear all the clutter away. You can simply walk away knowing the buyer will handle the rest. It’s a much easier and laid back process.
If you are looking to sell your home quickly and get out fast, then this is the right route for you. It’s also a wise choice if you prefer skipping the staging phase and avoiding worrying about taking photos or meeting with potential buyers. You just upload your home’s details online and wait for an offer. It’s that easy.
Offercity Can Help With Selling Your Home Without a Realtor
Offercity is a great option for homeowners looking to sell their homes quickly and for the best price. Sellers don’t have to worry about decluttering, making costly repairs, home inspections, or paying fees or commissions. We work on behalf of sellers by marketing homes directly to local investors. Investors bid on these homes, therefore, guaranteeing the best possible as-is cash offer for the seller.