Selling Your Home Without a Realtor
Most people assume there are two options for selling a home.
You can use a full-service real estate agent or sell it yourself. As we’ll discuss below, there are pros and cons to both. But there is actually a third option that combines the convenience of having a realtor with the cost savings of a FSBO (for sale by owner) sale. And that’s selling your home to us.
Option 1: The Price of Convenience
Your home is most likely one of your most valuable assets, so you want to get top dollar. That’s why most people use a traditional full-service real estate agent to manage everything from marketing and showing to negotiating and closing. We work with — and can highly recommend — some wonderful local realtors.
But, as always, professional services do cost money. By eliminating the middleman and selling your home yourself, you could potentially walk away with tens of thousands of dollars more in your pocket. Full-service realtors come with a commission that’s generally 5-6 percent of the sale price. On a million-dollar home, that’s $50,000-60,000.
Option 2: For Sale By Owner
Selling your home by yourself requires time, knowledge, skill, and a certain level of comfort with the process. Additionally, some people are just not physically able to show their homes to prospective buyers. But if you’re able to take the emotional aspect out of selling your home, if you’re willing to put in the leg work on a market analysis and determine the true market value of your home, and if you’re willing and able to take charge of all of the sales and marketing responsibilities, then this can be a viable option.
What goes into a FSBO sale?
First things first: you have to price the house right coming out of the gate. If you price the home too high, it will sit on the market and you’ll eventually be forced to reduce your asking price. Buyers may start to wonder if something is wrong with the house, and that’s not good. So, do your research. Explore final sale prices of similar homes in your area and price your home competitively.
Homes show best when sellers take the time to de-personalize and de-clutter. Clean from top to bottom, then remove personal items, pictures and knick-knacks and put them into storage. You’ll have to do this this anyway once you sell your home, so think about it in terms of giving yourself a generous head start.
The buck doesn’t stop at sticking a “For Sale By Owner” sign in the front yard. You’re going to have to write a compelling description of the house and take pictures. Many FSBO sellers think it’s worth it to hire a professional photographer. Once you have a competitive list price, quality photographs and an effective sales description, you can list the house on real estate websites like Zillow and Realtor.com.
Homes sell faster when they’re placed in the Multiple Listing Service, or MLS. But FSBO sellers can’t submit to an MLS, so you may want to consider using a flat fee agent. For a few hundred dollars, he or she can put the listing on MLS for you, print out fliers, put a lockbox on the front door (so that potential buyers and their agents can let themselves in) and place a professional looking sign in the yard. Also, be prepared to offer a commission to a buyer’s agent, as not doing so will diminish your pool of potential buyers.
So, is the money saved on realtor fees worth more than the convenience of having a realtor and the knowledge they bring to the table? It can be a good option for the right person, but with everything that goes into a FSBO sale, you’re working for every penny.
Option 3: Selling to a Custom Home Builder
Selling your home to us gives you the savings that you’re looking for when you decide not to work with a realtor, but removes the hassle of marketing your home yourself.
We make it as simple as possible by offering a fair price and closing with all cash offers, which means we can close in as little as two weeks or work with your schedule.
There will be no need to clean, stage the home, put things in storage, make additional repairs, or drag kids and pets in and out every time a prospective buyer comes over. Additionally, you don’t have to completely clean out the house when you leave or pay to move large items that you don’t want anymore. We’ll handle the disposal of anything you leave behind.
Everyone’s needs are different.
Selling your home with a realtor will save you time, but it does come at a cost. Selling your home yourself saves you money but requires a considerable amount of time and effort.
Selling your home to us is much easier than a FSBO sale but without the extra expense of using a realtor. For a homeowner with a desirable piece of property, it’s an excellent option.
Give us a call if you’re a New Jersey resident looking to sell a home in Westfield, Cranford, Scotch Plains, Summit, Clark, Watchung, Berkeley Heights, New Providence or Mountainside.
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