Do I Really Need a Realtor to Sell My Home?

Do I Really Need a Realtor to Sell My Home?

When it comes time to move to a new house, the first question on everyone’s minds is if they need a realtor in order to sell their home. The simple answer is that you don’t. Most states do not have a mandate requiring a realtor when selling your house; however, some do require one to deal with the paperwork, so check up on what applies to your state specifically.

need a realtor - Do I Really Need a Realtor to Sell My  Home?

Now that you’re aware that you don’t need a realtor, how do you go about selling your home? With so many people considering trading their morning commute to the city for working remotely in the ‘new normal,’ there has never been a more appropriate time to consider selling your home. We have highlighted a few different ways that you can sell your house without a realtor.

For Sale by Owner

Selling your home without a realtor can save you a lot of money. The average realtor commission is in the range of 6%, and the median sales price of a two-bedroom family home in Queens was $865,000 in 2017. Selling your home on your own could mean a savings of $51,900. While the FSBO method appears optimal for saving money, there are some severe drawbacks.

First of all, the 6% commission is normally split between the buyer’s and the seller’s realtors. To entice buyers to come to your house for a viewing, you will likely still need to offer them their cut as an incentive. Moreover, you will need to be up to date on the market. Without a realtor’s advice, you will need to do a market comparison survey to ensure that your home is priced to sell, but that you are also not pricing yourself too low.

Nevertheless, the FSBO arrangement is best for homeowners:

  • That work from home so can offer viewings at any time throughout the day
  • That are natural marketers
  • That can be unemotional about any negative comments
  • That are adept at negotiating
  • That have time to wait for their house to sell
  • That is in a seller’s market

Pay for Some Services

It can be possible to obtain a realtor’s services on a limited-service basis to assist with only specific aspects of selling your home. Market analysis, negotiations, and advice on filing the appropriate paperwork can be done with a set upfront cost. FSBO.com and others offer this service virtually.

Contact an iBuyer

An iBuyer, or instant buyer, is another term for a home buying company that buys homes instantly and directly from sellers. These companies are fine-tuned to know the market in a particular area and can operate without realtor fees. They also don’t usually care about your home’s condition or require any updates or repairs, since they consider this when offering you the home’s cash value. If you are looking to sell your house quickly, and with minimal hassle, there is a Queens home buyer that has access to fast liquidity where you can often set your preferred closing date.

A home buying company is ideal for homeowners that don’t want:

  • The hassle of updating, renovating or repairing their home
  • The stress of showing their home to multiple potential buyers
  • To wait for their house to sell on the open market

There’s no doubt that selling a home without a realtor puts more stress and responsibility onto you as the owner. You will not have an expert’s opinion on what improvements might raise the asking price, or which modifications might be unnecessary. You will also be at risk of litigation since realtors carry insurance for errors and omissions in the case of a transaction dispute. Take all of these factors into consideration when you go to sell your home.

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