How To Sell Your Home Without A Real Estate Agent

There are some things you should know if you plan to sell your home without the help of a Realtor. This article will walk you through the entire process, from listing your house to getting offers.

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FSBO And What It Is -

FSBO listings are properties that are listed on the market as "for sale by owner." FSBO listings may not be very common. The National Association of Realtors estimates that only 8% of all homes sold in 2020 had FSBO listings. The majority (78%) of those FSBO listings were single-family houses. Why is FSBO listing so rare? There are several reasons. First, FSBOs do not have the support and guidance of a licensed agent. A real estate agent is able to negotiate a better price for the seller and help the buyer or seller navigate the home-buying or selling process.

Buyers without an agent may not feel confident in their ability to negotiate a deal or may be less familiar with the process. FSBOs may also be more expensive or difficult to sell than traditional market listings because they are not subject to the same state regulations or rules. Many buyers are more interested in purchasing a home through licensed agents who can guide them through the process and help them find the right property.

However, selling without an agent is becoming more popular and more accessible through "we buy houses" companies and iBuyers.

top benefits of selling without an agent

Benefits of Selling a Home Without Using a Realtor

You can save significant money on commissions if you sell your home without the help of a real estate agent. A $350,000 property would require a $21,000 commission with the usual 6% fee. Because you will be directly working with the buyer, you will likely have greater control over the entire sale process. You can also avoid costly mistakes by handling all negotiations yourself. Instead of depending on a real estate agent's recommendations, you can do it yourself. It may be easier to sell your house if you don't have as many contacts or obligations as a real agent. If you are ready to sell your house without the help of a real estate agent, expect to save lots of money and have more control over the entire process.

selling without a realtor isn't for everyone

FSBO's Aren't For Everyone

The Cons of Selling a Home Without Using a Realtor

FSBO listings due tend to sell for less than that have been sold by real agents. According to the National Association of Realtors, FSBO homes were sold for $217,900 on average, while homes sold by real estate agents were $242,300. FSBO homes also receive less attention than homes that agents sell. FSBO sellers may find buyers harder because they face more competition. An agent representing a buyer may not want to show a FSBO home because of the uncertainty of the seller not knowing what they are doing. FSBO sellers are not supported by a professional agent who can help them identify potential problems and negotiate better deals.

Top Tips to Sell Your House Without an Agent

When searching and planning for the best way to sell your house fast without an agent in Cobb County and that the sale of your home goes smoothly, you should do a few things in advance. These are some great tips that will help you get started.

Repairs - Make sure you have all necessary repairs before listing your house. It will let potential buyers know that your home is an important investment and that you are serious about selling.
A solid marketing plan is also a must - Advertising is essential. Remember that your home will be available online for a long time, so ensure you have an effective website and create a detailed listing. Be realistic about the amount of money you can expect to make during the sale. Do not expect to make a million dollars by putting your house on the market. It would be best if you aimed for a reasonable investment return.
Be patient - It can be a difficult and frustrating process to sell a house through FSBO, but it is possible with the proper preparation.

Do a thorough search of your local market - You can use the internet for information about comparable houses in your area to help you determine how much your home is worth. Based on information about your local market, you should price your house accordingly. Tax assessors and real estate agents do this daily: they price homes and decide how much homes will sell for. Don't be afraid to seek professional help when you sell your home.
Prepare your home's exterior and interior - Preparing your home for sale is one of the most important things you should do. You will need a storage unit for the items you don't use while your home is up for sale. Experts recommend removing about a third (or more) of the items in your home. This includes anything you don't use daily. You may consider staging your home if the furniture is too large or looks worn out. The better your house looks, the more likely it is to be sold fast.
Place your home on the market - While a sign placed in front of your home may attract attention to your property, most FSBO sellers are better off listing their properties online. ForSaleByOwner.com has over 2 million users per month and is the most popular website for selling by owner. ForSaleByOwner provides sellers with free tools and a team that can assist you in creating a successful listing.

Make use of other advertising venues - There are many ways to sell your house without a real estate agent. You can list your FSBO listing on consumer-facing sites like Zillow or Trulia that reach millions of potential buyers. You can post FSBO listings directly on these websites for free, so there is no risk in trying this strategy. Be aware, however, that there can be stiff competition for homes listed on these FSBO sites. Make sure your listing is clear and convincing.
Hosting open houses and private showings - Open houses and private showings are a great way to get more buyers to your home and convince them to buy. Private showings allow buyers to visualize themselves living in the home with fewer people and distractions. This is what sells homes. Open houses, on the other hand, will allow buyers to view your home from afar and get an idea of its layout and amenities.
Get ready for the negotiations - It is essential to be prepared to negotiate when selling your home. It is vital to ensure that you don't lose your offer due to the buyer's inability to get financing. It's essential to consider these things when you decide on the sale price: When do you want it to close? What are your closing costs? And what contingencies will you accept? You also want to ensure that your counter offers are reasonable and not too high or unreasonable.

Collaborate with buyer's agents - You must follow up with buyer's agents after the tour to hear their thoughts and determine if their clients are serious about buying the house. You should also find out if your buyer has been pre-approved for mortgage financing. Also, ask if there are any contingencies, such as a need for a mortgage. Negotiate the best deal for both of you. It would help if you did not appear too eager to sell. This can make you look desperate and reduce your chances of selling.
Take control of the closing process - If the purchase is being financed, the closing process starts with the escrow agent reviewing all instructions and requirements from the lender. The escrow agent schedules the closing, compiles all legal and loan documents, and prepares closing statements. The seller and the buyer sign the closing documents. Any existing loans are paid off, and all parties are paid, including the seller, attorneys, and real estate agents. The property is recorded and title insurance policies are sent to the buyer and new lender.

Selling Without A Real Estate Agent vs Selling With A Real Estate Agent

It is entirely possible to list your home yourself without the assistance of a real agent. Online resources can provide more information about pricing, marketing, and negotiation, but you may not be able to find all the details. Agents might have more information on comparable properties and market trends than others and may also have connections with agents and buyers in the area. It doesn't matter if you have an agent or not. Knowing your options will help you make the right decisions about your property.

Selling Your House To An iBuyer

Selling your home to an iBuyer company is another possibility for selling your home by owner. It's easy to sell your property to an iBuyer. Send your address online, or call an iBuyer to find an iBuyer interested in your property. Within 1-2 business days, you'll get a cash offer. Once you have received the cash offer, it is necessary to set up a time for iBuyer to inspect your property. It's easy and straightforward way to find a buyer for your home and should be considered if going the For Sale By Owner or just selling without a real estate agent.