Everyone has an opinion about the best way to sell a house, making it feel overwhelming to know what’s best for you.
Ultimately you need to choose what fits your unique home-selling situation. That decision could or could not involve a realtor.
Real estate agents can guide you through the sales process but you’ll pay them a commission. Of course, price is one obvious factor to consider. There are other considerations as well, including factors that don’t matter on paper but have a major impact on your day-to-day life.
These 10 points break down the reasons you might want to sell your home without a realtor:
1. No Commission Paid to Realtor
The top reason people sell their homes without a realtor is to save on the commission they would pay the agent, which averages between 5-6%, according to realtor.com. On a $200,000 home, a 6% commission would equal $12,000.
If you can take on the work of the agent, you can keep that percentage of your sale, which adds up as the value of the home increases.
2. New Home Sales Channels
There are many new channels for selling your home, including non-traditional iBuyers, which are digital companies that buy your house quickly with instant offers before they even see your home.
Besides this newer method, there are resources to try For Sale By Owner or FSBO. As well as managing your own listings on sites like Zillow, Trulia, and Realtor.com
According to the National Association of Realtors, 50% of buyers found their homes online, compared to 28% that found homes through a realtor in 2018.
3. Sell Your House Fast
There are many reasons you might need to sell your house fast, you need the cash, want to jump on purchasing another home, need to move for work, etc. If you need to sell quickly, you can adapt your strategy to find an appropriate buyer.
According to Zillow.com, in 2018 most homes stayed on the market for 68 days on average. With other options such as selling a house to an Instant Offer company or iBuyer, you can instead sell it within three days of receiving an offer.
4. High Demand in a Hot Market
Successful realtors know how to reach buyers in the local market and have active outreach channels for marketing even in the slowest of markets.
However, if you find the temperature of your market is hot, then you have an advantage as a seller. In this situation, for-sale houses are in high demand so buyers are more active on the hunt for the next available home.
5. Control the Sales Process
We look at specific points of this below, but there are several variables along the sales process that end up out of your control.
If you’re managing the process, instead of entrusting it to a realtor, you can steer the timing and requirements of the sale. This includes hiring experts you choose, reaching buyers you want and moving the timeline along at your own pace.
6. Don’t Get Locked into a Realtor Contract
When working with a real estate agent, you enter into a contract for the work they begin to sell your house. However, if along the way, they don’t meet your expectations, you might be stuck with them because of your contract.
Without this commitment, you can decide to hire expert agencies where appropriate throughout the process. You could also hire an attorney you already know and trust to help with the transaction of selling your house.
7. Hire for Services You Choose
By hiring various services on an a-la-carte basis, you can decide what is worth the cost and negotiate with each professional to stay within the price range that fits your needs.
Sites like FSBO.com, show professionals you can hire on a limited basis for various services that might help you complete the sale of your house.
You can also hire a real estate broker for limited services with a one-time fee.
8. All Information Flows Through You
Because you’re the primary contact, you won’t feel left in the dark throughout each step in the selling process. You won’t waste time waiting for the realtor to relay information to and from other agencies, or worry about information getting lost in translation.
9. Control the Close Date
If you’re looking to purchase a new home, you can more easily coordinate the date of sale to align with the purchase of the next home, or any other deadline you’re up against. With fewer agencies involved, you have more flexibility to complete each step.
With traditional real estate sales, this can become an issue as there are so many variables that can get delayed or interrupted, even to the point of canceling the sale.
10. Support is Everywhere
Between the research, you can do online, and various professionals you can consult and hire, you’re not alone in the sales process, even without hiring a realtor.
You can find many of the same resources, forums and social media sites that realtors use, giving you direct access, not only to expert information but also to potential buyers.
Sell Your Home The Way That Works for You
These 10 reasons to sell a house without a realtor can help you focus on what you really want from the sale of your home.
With so many variables outside of your control, including your local market, value, and location, anything you can do to control your end of the deal can help to make the process more efficient.
What matters most is what fits into your life and what allows you to be the most satisfied with the sale of your home. After all, your house is likely the most expensive purchase you’ve made, so you want to be satisfied when you sell it.
Recommended Reading
https://www.moneycrashers.com/tips-sell-house-by-owner-without-realtor/
https://www.consumerreports.org/selling-a-home/tips-for-selling-your-home-without-an-agent/
https://www.wikihow.com/Sell-Your-House-Without-an-Agent
https://www.nar.realtor/research-and-statistics/housing-statistics