Can I sell my home without a real estate agent?

By | June 25, 2010

Q.Dear LoanSafe.org, I have come to a conclusion that I would like to sell my home instead or continuing trying for a loan modification. It has been hard over the past few months to pay the mortgage payment, but somehow I am able to manage it. I’m not at all worried about having to short sale my home because I only owe 150,000 and my home has recently been appraised at $210,000.

My question to you, “Is it possible to sell my home without a real estate agent? The only reason I ask is because I would like to come up on as much profit as possible for a down payment on my next home.”

A. Selling your home without a real estate agent can be an efficient method to help cut out the middle man and save some money, while making as much profit as possible from your home. Realtors do make selling your home a lot easier, but it certainly can be done on your own.

It may be difficult for some if they are unfamiliar with the way this process works, but with a little research on how to properly market your home and a lot of entrepreneurial spirit, it is definitely possible.

Price your home right!

One of the most important things you can remember is to list your house at a fair price. One of the benefits of using a realtor is that they have a pretty good understanding of the local real estate market and what your house should be worth. There are plenty of websites out there such as Zillow that you can use to judge the market value of your home. This will allow you to place it on the market at a competitive price. It is also wise to get comparisons of what similar houses in your immediate area are selling for. Keep in mind that not all websites that list home values will be completely accurate so always make sure to check out recent comps in your neighborhood.

It’s all about marketing!

Another important aspect of selling your home is to ensure that you are marketing your house effectively. One of the main reasons to hire a realtor is so that he or she can market your home for you and let as many potential home buyers know that your house is for sale. An agent will be able to place your home in the Multiple Listing Service (MLS) which acts as a Realtor networking service. The MLS will be expose your home to a pool of thousands of other agents and potential home buyers. Thus increasing your chances of selling much quicker.

Since you you are planning to perform the sale without assistance of a realtor you will have to do this marketing all on your own. 

Market your home by taking out ads in the newspapers and placing ads through online classifieds like Craigslist and Forsalebyowner.com.  Also, if you put up a few signs around your neighborhood you will be sure to garner some interest in your home. But the internet has got to be the best place to list your home because these days the majority of potential home buyers use the internet to locate properties in areas in which they wish to live.

Many homeowners also come to think that home improvements will be best when trying to sell their property. While this is true in some cases, why not invest that money into needed repairs. Instead of adding another bathroom or bedroom, you can focus those funds on a new paint job or repairing plumbing, windows, walls, or anything else that may need some touch ups.

Another step you will want to take when selling your home yourself is to screen any potential buyers and require them to have a pre-approved mortgage letter. By requiring your potential buyers to be pre-approved you will help speed up the closing process. This will also help ensure you do not waste any time negotiating with people who are not qualified to purchase your home.

While using a real estate agent to sell your house is probably the most efficient way to put your home on the market, it is certainly plausible that you can sell your home yourself. By taking a few necessary precautions and doing a little research, you may be able to make some profit from the sale by cutting out the middle man. This can easily save you tens of thousands of dollars!

3 thoughts on “Can I sell my home without a real estate agent?

  1. Andy Morris

    you may want to consider one of the “for sale by owner agents” or flat rate realtors that will list your home in the mls for free. agents still control a lot of buyers so it is worth it to pay the 2.5% to a buyers agent rather than risk alienating those buyers.

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  2. Buy nj Homes

    S&S Property Development is a group of experienced local investors looking to purchase houses right now. We buy NJ homes Size, location, condition and price doesn’t matter-we can make you a cash offer TODAY and close quickly!

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  3. Rehan Hussain

    I would like to share something with the readers that,when you decide to put up a price for your home,you should also consider the fact that you have to hire an agent or a broker to do the job for you.Like,I sold my house with the help of a broker,and I had to pay 1-2% of the amount agreed as his fee.I was so much tensed at that moment as I had to buy another home from the same money.Well,I went through the process.But,my point is,I didn’t really get what i wanted.I didn’t get the price of my liking,because I had to pay to that damn agent.Now,after I went through all that process,I learned something.

    Recently,I went out with a friend of mind,and he told me that he sold his home without paying any fee to the broker.I asked If he was a relative of his or something.But no,he said he didn’t even hire an agent.I thought he might have sold it to a relative of his or some friend of his.But yet another NO i got from him.

    He told me that he sold his home through an online website.Some FSBO websites they are called i guess.I didn’t believe him,because I never trust any business done over the internet.But since he showed me the website,and the agreement copy and all,I finally decided to trust him.

    I think that in order to save your money,and to set the right price for your liking you should first be relaxed by keeping this thing in your mind that you don’t have to pay anything to a broker.

    I have searched these websites on Google,the top sites were:

    gofizzbo.com, forsalebyowner.com, isoldmyhome.com, fsbo.com etc.

    Now I don’t mean any offense to the brokers,Its just that you can save your money in this way.That’s my opinion.Just for a flat rate fee and without paying any commission you can sell your home.This seems a big deal to me.

    Also,you can also try the most easiest way of all,that is put up a “FOR SALE” sign in front of your home.But,let me tell you what will happen.The next moment you put up the sign,your phone will start ringing.WHY?How would you know that it is the actual buyer who has called.Actually,the real estate agents might try to hound you.Still,no offense to the brokers,estate agents or realtors.The choice is yours.

    Hope this info helps you.

    Regards

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