Selling Your Home Without a Realtor

When it comes to selling your home, the traditional route is to hire a realtor. But what if you could bypass the middleman and keep more of the profit in your pocket? It's not only possible, but also simpler than you might think. Let's dive into the world of selling your home without a realtor.

Why Sell Without a Realtor?

First things first, why would you want to sell your home without a realtor? The main reason is cost. Realtors typically charge a commission of 5-6% of the home's selling price. On a $300,000 home, that's $18,000! By selling your home yourself, you can save a significant amount of money.

Another reason is control. When you sell your home yourself, you have complete control over the process. You can set your own price, negotiate directly with buyers, and choose when to show your home. For some sellers, this level of control is worth the extra work.

But Don't Be Fooled By Free Listings

While a free FSBO listing might seem like a great way to sell your home, the truth is it's just a way to provide leads for the businesses that you unfortunately need in order to sell your home competitively.

When you place a For Sale by Owner listing on the major real estate websites your listing is not made easy to find. In fact, potential buyers have to select to 'show' For Sale by Owner listings – most buyers are unaware of this feature, or prefer to work only with those selling with a listing agent.

How to Sell Your Home Without a Realtor

So, how do you go about selling your home without a realtor? There are three main options: using a flat fee MLS service, going with a discount brokerage, or doing it all yourself. Let's explore each option in detail.

Option 1: Flat Fee MLS Service

A flat fee MLS service is a great option for sellers who want to save money but still get their home listed on the Multiple Listing Service (MLS). The MLS is a database of homes for sale that is used by realtors and buyers alike.

With a flat fee MLS service, you pay a one-time fee (usually a few hundred dollars) to have your home listed on the MLS. You'll still have to handle things like showings and negotiations yourself, but your home will be visible to a much larger audience.

When using a flat fee MLS service, it's important to price your home correctly. Without a realtor's guidance, this can be tricky. Be sure to research comparable homes in your area and consider getting a professional appraisal.

Option 2: Discount Brokerage

A discount brokerage is a real estate company that offers services for a lower cost than traditional brokerages. Some discount brokerages charge a flat fee, while others charge a lower commission.

With a discount brokerage, you'll get more support than you would with a flat fee MLS service. This can include things like pricing assistance, marketing, and help with paperwork. However, you'll still be responsible for things like showings and negotiations.

When choosing a discount brokerage, be sure to read the fine print. Some brokerages may charge extra for certain services, so make sure you understand what you're getting for your money.

Option 3: Hire A Local Agent At <3%

The final option is to find a local agent that will accept below 3% to list and close your home. If only going with a listing agent, we recommend finding one of the many agents that are willing to accept as low as 1% to market and sell your home.

Given the recent lawsuits against the NAR, sellers now have control to negotiate with agents AND determine if they'd like to offer a buyer agent commission for those bringing potential sellers.

Conclusion

Selling your home without a realtor is not for everyone, but for those willing to put in the work, it can result in significant savings. Whether you choose to use a flat fee MLS service, a discount brokerage, or go the FSBO route, you have options. Do your research, weigh the pros and cons, and choose the option that's right for you. Happy selling!