The sale of a house can be one of the biggest money exchanges. It is a good time, though it comes with a lot of pressure, especially when you factor in the realtor commission, which will cut into your profits. Thankfully, this is not the case, and you can sell your house yourself and save thousands of dollars in commissions. This process is commonly known as “For Sale By Owner” (FSBO), and although it may be a little more work for you, it can be very effective if done correctly.
The Benefits of Selling Your House without Commission
The following are some of the benefits of selling your house without the services of a real estate agent. The biggest advantage is the financial advantage that is achieved. Real estate commission fees are usually between 5% and 7% of the selling price, which can be significant, especially for high-end homes. Selling FSBO enables you to retain this money with you, meaning you will not have to share it with anyone else.
Besides, you have more control over the selling process and can save more money. Sellers can choose the price at which they want to sell their property, fix their showing time, and bargain with the buyers. This can be particularly advantageous if you have a specific property or a good market feel.
The general steps involved in selling your house without paying a commission:
● Do Your Research
Make sure you are aware of the current market situation in your region. This involves finding out the prices at which similar houses have been sold recently, knowing the buyers’ preferences in the current market, and knowing the legalities of selling a house in your state.
● Price your House Competitively
It is advisable to look for recent sales of houses of similar characteristics in your locality to get a rough estimate of the value of your house. The price should also depend on the state of the house, the last time it was renovated and the current market price.
● Market your Property Effectively
Below are some of the ways that you can market your house on FSBO. Zillow and Trulia are some of the online listing sites that can be used to begin with. You can also put up signs in your yard, advertise in local newspapers, and also organize for open houses.
● Qualify Potential Buyers
When arranging a viewing, it is important to ‘weed out’ any time-wasters and those who cannot afford your house.
● Be Prepared to Negotiate
Consumers will probably attempt to bargain for a cheaper price. Be ready to negotiate and also be sure of your stand and what you are willing to accept.
Want a faster, easier sale? Contact Settlement House Buyers
Settlement House Buyers can offer a cash offer for your house, eliminating the need for FSBO marketing, showings, and negotiations. We simplify the process, close quickly, and there are never any commissions or hidden fees. So, what are you waiting for? Get a free, no-obligation offer today!