How To Sell A House Without A Realtor
Selling a house through a realtor is the most common path for most homeowners to sell their house or property. However, this isn’t possible for everyone, and there are situations that make it difficult (or impossible) to sell a home with a realtor.
Reasons To Sell Without A Realtor
Some of the most common reasons to sell without a realtor are:
- The house won’t pass inspection
- Realtors won’t list the house
- No need to fix the house
- No realtor fees
House Won’t Pass Inspection
If a house won’t pass inspection, it’s much less likely to sell, and its value will be considerably lower. It doesn’t mean it can’t be listed, but realtors may recommend fixes or improvements so that the home can sell for a higher price (giving them a higher commission). Making these improvements can cost a lot of money and take a lot of time – and they’re not guaranteed to raise the selling price by a lot.
Realtors Won’t List The Property
If the house is in really bad shape, realtors may refuse to list it at all. There are a few reasons for this:
- If the house is in really bad condition, or unsafe, or requires extensive repairs, realtors might decide not to list the property. Houses that are run down or need extensive repairs are more difficult to sell, especially to home buyers who want a move-in ready home. Even for buyers who are looking for a fixer-upper, the house may be too much work.
- Even if a realtor agrees to list the property, finding a buyer is difficult and time-consuming. Most buyers get home loans in order to buy houses, and banks/lenders won’t give home loans to purchase properties that won’t pass an inspection or aren’t livable.
- If the estimated selling price is too low, realtors may choose not to list the property, because the commission isn’t high enough. A realtor may look at the house and determine that the commission isn’t enough for the time and work that it will take to sell the house.
- Even if the property is in OK condition, and the sale price is high enough, a realtor may choose not to list it because it doesn’t fit their criteria, style or expertise. A realtor is not required to work with anyone, and can turn down potential sellers whose houses or properties don’t meet their standards or expectations.
No Need To Fix The Property
In order to sell the house for a higher price and get a higher commission, a realtor may recommend repairs or changes to the house. Even simple things like painting the walls can cost time and money that many people don’t have. Selling the house without a realtor allows the owner to sell the house as-is, saving time and money. Henry Street Property Group will buy properties in all conditions.
No Realtor Fees
Realtors usually charge a commission for listing, showing and selling houses – they earn a percentage of the selling price and they only make money when they make a sale. The commission percentage is not set in stone, and can change based on the property being sold.
The average realtor commission is about 6%, but realtors may charge a higher commission if the property will take a lot of time and effort to sell. Remember – they don’t get paid a salary, so the more time it takes to sell a home, the less money they end up making.
For houses that need a lot of repairs, a realtor may charge 10 – 20% commission, which means less money for the seller. In a lot of cases, it’s more profitable to sell the house without a realtor, for cash.
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