Planning to sell your home without a real estate agent? Interested in saving 6-7% of your home’s sale price that would typically go to your real estate agent and the buyer’s agent as their commission? If you answered “yes” to either of these questions, then you’re probably considering how to save on commissions by either selling completely on your own or for less commission.
Although the most traditional way to sell a home is to sell for full commission with a licensed realtor, FSBO might be a good option depending on your situation.
FSBO vs Realtor-Assisted Sale
Before you start selling a house without a realtor, you should know that the process is far from easy. To start off, you will need to dedicate time and resources to work on getting the home ready to sell and deciding how to price the home accurately.
Next, you will need to figure out how you will manage showing the property and fielding calls from Agents and prospective buyers about the house. This is the work that an ordinary Realtor deals with daily for listings - the work that includes everything from prepping, marketing and showing your house through negotiating its final price and closing.
Nevertheless, if you don’t have the time and resources to do all this and wish to sell a house fast, you should look for a house-buying company. They will buy your house in as-is condition and offer you a genuine price.
If you do decide to go this route, here are 3 things to consider:
1) Selling FSBO Will Save You 2-4% in Commission
Opting for an FSBO sale can save a significant amount of money that would otherwise go towards realtor commissions. Typically, realtor commissions range from 4 to 6%, split between the buyer's and seller's agents. By bypassing this traditional route, sellers can potentially save thousands of dollars, which is often the primary motivator behind FSBO sales.
2) Selling FSBO is Not Easy
However, the path of FSBO is not always smooth. It requires a good understanding of the real estate market, pricing strategy, and legal paperwork. Unlike realtor-assisted sales, where the agent handles viewings, negotiations, and paperwork, in FSBO, these responsibilities fall squarely on the seller's shoulders. This can be overwhelming, especially for those unfamiliar with real estate transactions. Moreover, realtors have networks and marketing channels that individual sellers do not, which can lead to a quicker sale.
3) Selling FSBO Gives You More Control of the Process
On the brighter side, FSBO provides sellers with more control over the selling process. From setting the price to arranging viewings at convenient times, and directly negotiating with buyers, sellers have the final say. This greater control can be liberating and financially rewarding if navigated correctly.
Conclusion
Ultimately, selling a home without a real estate agent can result in more money in your pocket, as you won't have to pay a commission to a listing agent. However, it's crucial to do your research, understand the market value of your home, and be prepared for the sale process. If you're unsure about handling a home sale on your own, consider a 1% listing option at SimpleShowing. With the 1% listing fee, you’ll get the help of a licensed realtor and save $7,500 on average in commission.
