The Benefits of Selling Without a Realtor
by Homepie | Published May 31, 2022 |9 Minutes
A question that we are often asked is “How do I sell my home, no commission?”. Quite often, homeowners looking to sell their home choose to take the FSBO route because it cuts out the cost of paying commission to a real estate agent. There are a number of benefits to selling your home without using a realtor and it may be the perfect option for your situation, and technology allowing home sellers to sell by owner with confidence and without having to get your license is finally available at Homepie.com.
Benefits of Selling Your Own Home
If you choose to sell your own home without a realtor, keep in mind that you will be taking on the roles that a realtor would normally handle and need to have the time to do so. Homepie makes it as easy as possible for you using our technology. Here are the benefits when choosing to not use a realtor:
When you are selling your own home, you have control over the pricing and marketing of your home. This means that you can highlight the areas of your home that you feel are important when marketing. Quite often, a realtor will advise a price that you don’t agree with. Selling your own home means that you decide what price you are willing to ask for. Just be sure that you have done your research to see what homes of your type, in your area, are going for, and pay extra close attention to the differences in your comparable homes including square footage, bed/bath count, and unique/differentiating features. You don’t want to over-price or under-price the home and regret it later if your listing goes “stale” on the market, or if you sell for less than you should have.
You have control from start to finish when you choose to sell without using a realtor. This means that you can choose what improvements or upgrades you want to make, when and who you show the home to, and how you want to stage the home for viewing.
Price Your Own Home
Having a detailed understanding of what is going on in your market also gives you more control when negotiating with buyers. Nowadays, you have all the information you need at your fingertips. Homepie’s free Home Value Estimator can give you a solid starting point in pricing your home. It’s important to understand that all automated values you see online are merely someone’s interpretation of many data points, so you’ll want to look at each as just one piece of information helping you pick the right price.
Cut Out the Commission
The main reason people choose to sell their own homes is the savings in commission. It’s widely agreed that commissions in general are too high for what you get out of it, and there are trust issues between sellers in general and real estate agents, in part because of this, and in part because of the low threshold to get into the real estate business. Traditionally, you can end up paying between 5% to 7% in commissions, which typically equates to thousands of dollars. That’s equal to the down payment needed for a new home!
In the current state of the real estate industry, it’s hard to get around paying buyer’s agent commission if you don’t already have a buyer. The internet is dominated by real estate sites that display only MLS listings, so it’s currently advised to at least offer a commission to a buyers agent. What this does is it keeps your home on the agents’ showing lists. If you don’t offer a commission similar to your neighbor’s, the agent will show your neighbor’s MLS listing, but not yours.
You Know Your Home
Let’s face it, no one knows your home better than you do. This means that you can give explicit details that a realtor won’t know. You can tell a buyer what drew you to buy that home in the first place. There’s an emotional attachment that an agent won’t have. Sharing these details with a buyer creates a bond that can spark their interest in buying your home.
Dedication to Your Home Sale
Real estate agents are usually juggling several home sales at any given time. This means their attention and focus aren’t always on the sale of your home. When you choose to sell your own home, your home selling process gets 100% of your focus, which can lead to being able to sell your home faster. You also won’t have to wait for the scenario where the buyer has a question and they must involve their agent, then your agent, and then you in a long game of telephone. It eliminates at least one of the people and tightens the chain of communication.
If you are asking yourself “Should I sell my home, no commission?”, reach out and we’ll answer your questions and help you get started. Using the services offered at Homepie, you can sell your home for a price that you are happy with while saving thousands of dollars in the process.