We live in an age of do-it-yourself tutorials and information at your fingertips. With so many online resources, the need to turn to professionals at every step is becoming a thing of the past.
And while it’s easy to think of this DIY revolution as applicable only to small-scale projects, like Pinterest home decor tutorials or learning the basics of bike maintenance, it also applies to large-scale endeavors like selling a house. In 2021, you can sell your home without a realtor and make more money in the process.
Save time, money, and loads of frustration by cutting out the middle person. Here’s how.
How to Sell a House Fast without a Realtor: Guide for 2021
When selling property, the goal is to maximize profit and get the most money for your home possible. To do this, most people assume they need to hire a realtor. That choice alone can substantially cut into your earnings. High commission costs, and the strange practice of needing to pay commission to the buyer’s agent as well, can make a hefty dent in your overall profit.
With confidence and a well-thought-out plan, you can successfully sell your home without a realtor. Here are a few key steps you can take to get there.
Get Your Home Photo Ready
It was true ten years ago, and it is even truer today: photos matter in home selling. For home sellers, that means that making the home photo-ready is a necessity.
People shop for homes based on what they see above all else. While you must be transparent with potential buyers about the structural integrity of your home, a fresh coat of paint and some flowers planted along your sidewalk can go a long way. Small, low-cost steps can make a big difference in your house’s curb appeal and can help justify a higher asking price.
Alternatively, you can list your property “as is” and bypass any of the physical preparation work that goes into putting a house on the market. This route can save you a lot of time, but it may be a harder sell. You’ll likely need to drop your asking price to accommodate the expected costs of upfront maintenance. Plus, peeling paint and missing shingles don’t look good, no matter how many filters you apply.
Don’t Underprice Your Property
Setting a price point for your property is like walking a tightrope. You don’t want to lean too far in either direction, or you may not successfully make it to the other side.
It was once the case that homes would sell for about 10% lower than the asking price. However, in 2021, it might not be the case anymore. In many states, like Washington, Colorado, or California, homes sell for 50-60% above the listing price.
The gap between listing and selling price is critical to keep in mind when determining the monetary value of your home. Be confident, and don’t undercut yourself before the listing even goes up.
That said, it is incredibly rare for homes to sell at their list price unless you live in a hot real estate area. If you’re trying to sell your home quickly, you don’t want to aim too high and risk no movement.
An overconfident listing price can slow down the process, costing you more in upkeep and utilities as you wait. The faster the sale is over, the more money you’ll save on maintenance.
Even if you aren’t working with a realtor on your side, there is still a chance you’ll need to pay closing costs to the buyer’s agent. This information is essential to keep in mind from the get-go when deciding on the listing price of your home.
Unsure where to start? Look at house listings for comparable properties in your area and use these as a guide. Alternatively, you could find a trustworthy realtor who does free valuations. Even if you don’t intend to work with a realtor, you can get some keen insights without paying a dime.
With a realtor, you don’t need to think about marketing. But if you’re selling your house independently, it’s the biggest challenge you’ll have to navigate. Getting your home ready for sale and settling on a list price is barely half the battle.
Advertising can become expensive quickly. You can try your hand at posting fliers for an open house around town for free, but it’s unlikely that this will lead anywhere. You could also opt for local newspaper listings, but to do it consistently can cost you a pretty penny and may not be worth the investment.
Many home sellers opt to list their homes on the MLS, which costs far less than regular newspaper ads and casts a wider net. Unlike newspaper readers, people visit MLS intending to shop for a home. You can list your home for four months for under $100. Since other home listing sites like Zillow or Yahoo Homes pull data from MLS, you’ll be getting way more out of your investment.
Consider Selling to Investors for Cash
Does all of the above sound like a whole lot of work? It is. It’s also why many home sellers turn to cash buyers like Kind House Buyers and go the easy route of selling the home to investors for cash.
When you sell your house directly to an investor, you don’t need to worry about getting your home picture perfect or marketing your listing. You don’t even need to clean! You can get ready to sell on your timeline, whether that’s tomorrow or a couple of months down the line.
Another significant benefit of selling direct is that you don’t have to pay any commission, closing costs, or agent fees—fees that typically come in at or over 10%. Direct selling keeps money from the sale in your pocket. You’ll also save money on repairs and get out of there faster, meaning you’ll save on future upkeep. It’s a win across the board.
Tips to Sell a House Fast without a Realtor
Here are a few essential tips you should keep in mind when selling your house quickly without a realtor.
Highlight What Makes Your House Unique
If you want to sell your home, you need to know its unique selling points. What makes your house stand out from one in a neighboring town or across the street?
Highlight the amenities, unique architecture and design, perks of living in the area, and other positive factors to give your listing a leg up above the rest. These small touches personalize your listing, which is refreshing when buyers are used to dealing with professional realtors.
Get Ready to Negotiate
Without a realtor, you’ll need to hold your own at the negotiation table. It can be a daunting prospect for many, as not everyone feels comfortable advocating for themselves.
Most often, a potential buyer will make an offer well under what you’re asking. Be ready to make an argument for the price you listed, but also be prepared to meet somewhere in the middle. If you set your asking price strategically from the beginning, you’ll still come out ahead.
Remember: Nothing Is Final Before Signing
In home buying, talk is meaningless. Until a legally binding contract is drawn up and signed by all parties, nothing is final.
Don’t get your hopes up too soon if someone expresses interest in your property. If a potential buyer can see that you’re overly excited, they may interpret that you’re desperate for someone to make an offer. It isn’t the way you want to start a negotiation.
Keep your cool, and remember that nothing is final until everything is signed.
Selling a Mobile Home?
If you’re selling a mobile home, a key element makes a big difference in the process: land. Do you own the land that the mobile home is on, or do you just own the mobile home but not the land? As far as owners go, the split is about 50/50.
If you own the land, that is a big selling point. You can list your home as a property sale. If you only own the manufactured home, this would be considered a personal sale. Which side you fall on will influence the price you list and the best way to go about selling your mobile home.
Should You Sell a House without a Realtor?
There is no one correct way to sell a house. If you hire a realtor, you will need to face the reality that you’ll be paying a pretty penny in commissions, agent fees, and more along the way. These costs can cut into your overall profit. That said, working with a realtor means you’re not responsible for all of the legwork on your own.
On the flip side, bypassing a realtor and listing your home independently can save you money, but you’ll be paying for it in time and energy. Figuring out the best way to list property can be daunting, and it may take months before anyone bites. In the meantime, you’ll still be paying for utilities and maintenance. Plus, you’ll still need to invest in getting your home ready to list and will most likely still have to pay the buyer’s agent when all is said and done.
A direct sale to an investor is a happy medium between selling to a realtor and selling on your own. When you choose to sell your home directly to an investor like Kind Home Buyers, you’ll have the upfront guarantee of a sale and can do it on your own time.
Selling a home in 2021 without a realtor is possible—whether it is feasible ultimately depends on how much money and time you have.If you need guidance in working out the benefits, contact Kind Home Buyers. We purchase homes for cash and can help you weigh the pros and cons. Better yet, minimize the stress and get money directly into your pocket when you sell us your house as-is. Reach out today and make the move that benefits you most!