It is possible to sell a house without an agent, and that’s a fact. For some people, working with an agent (especially if you don’t know him/her personally) is just an extra thing to worry about since hiring one will be like taking a leap of faith. No matter how much screening you do, you can never guarantee that the agent will, 100%, provide you with the level of service that you expect to have.
According to the National Association of Realtors, 8% of home sales in America were sold by their respective owners. These are either people who were hesitant about working with an agent or people who already knew a buyer. But don’t get us wrong, agent-assisted home sales still sold for more money as compared to FSBO-sold homes. If you think you are part of that 8%, here are a few questions to help you decide whether to go with a real estate agent or not.
Do I Have the Time to Sell My House?
Agents are an asset when it comes to finding buyers. Most likely, if you won’t find a retail buyer, your agent will connect you to an investor buyer. Suppose you don’t sell through an agent; you will have to look for a buyer on your own. This means that you’ll have to learn a great deal about marketing and creating effective listings if you want to sell on the market. Here are some things to note when you create your listing:
- Stage your house for both pictures and actual viewings
- Clean your house for viewings
- Take great pictures of important areas
- Create an intriguing listing title
- Create a fascinating listing copy/description
- Choose a competitive price
Talking about price, before you post your sale, you will have to decide how much you are going to sell your house for. Ideally, you can hire an initial appraiser to help you set a price. Nevertheless, when you decide on a value, don’t forget to consider the following factors:
- Your remaining mortgage
- The condition of the house
- Neighborhood condition
- Price of recently sold homes in your community
- Local real estate market conditions
- Pre-sale repairs if there are any
- Property liens
Remember that your days on market can also be influenced by season. Families, for example, will most likely scout and buy houses during the spring and summer season just before school starts. So if you are not in a hurry to sell your house, you might want to wait for March to roll in. Or better yet, check out the Zillow Owner Dashboard to see which month would be best to sell your house based on your location!
The bottom line is that you may have to set aside a considerable amount of time if you want to sell your house without an agent. But for sure, with dedication and grit, it will be possible to sell your house as fast as an agent.
Am I Ready to Study Everything About the Georgia Real Estate Market?
The condition of real estate markets differs per location, even up to the county level. Apart from home values, you can expect that tax rates and closing laws & procedures may vary. In addition, the market condition may depend on economic trends such as infrastructure development, land availability, home inventory, and migration. All this information is useful when determining your target listing date and price.
If you want to sell when the market is hot, you may want to allocate time for research because you’d need to elevate your strategy. There will be more competition when the market is hot for sellers, and you don’t want to be lost in a sea of similarly valued homes. On the other hand, if you are planning to sell as soon as possible, even when the market is not so welcoming, you’ll still need to do some digging up to break the ice with your buyers.
Do I Know How to Talk to a Buyer?
We get that you may be in dire need of selling your house. But who isn’t right? A house is not just a cheap thing to stow away, unattended. It can be daunting to talk to an interested buyer, especially if it’s your first time. So how do you sell your house without looking too much like a desperate home seller?
Well, you may have heard of the saying, “don’t make a pitch, but instead, make a conversation.” Although you are trying to sell your house by saying all the good stuff about it, it is important to highlight what your buyer can get from it instead of what you (or your house) can give. You may put much emphasis, for example, on how your kitchen has been upgraded to a modern design, yet your buyer doesn’t actually spend a lot of time in the kitchen. So before you shoot your offer, show empathy and get to know your potential buyer first.
Does Losing 6% of My Purchase Price Sound Too Much?
Agent commissions have fluctuated between 5% – 6% over the recent years, and the percentage varies per locality. For example, agent commissions are higher in the northern Georgia rural areas as compared to southwestern rural areas. Some agents can even go as high up as 7%, especially those who use advanced research and marketing technologies.
If you are putting your house up for $163,000, that’s about $9,780 for a 6% agent’s commission. Take note that the 6% can be the total for both your agent and your buyer’s agent. If you don’t want to work with an agent, but your buyer does, commission fees will be inevitable, but at least it’s lesser as compared to having a seller’s agent too.
You also have one more option if you really don’t want to pay for an agent’s commission. You can sell your house to us at Spire, and you won’t have to wait for the market to notice you, nor spend on repairs, closing costs, and agent’s commission! If you are interested, send us your details via the form below, and we will contact you as soon as possible!