How To Avoid Hefty Realtor Fees When Selling Your House
The time has come to sell your house. You know that you need to get every penny out of it before moving to your next location. But you also know that you don’t want to pay those hefty realtor fees. Are there any other options available to you? Can you avoid paying those huge commissions? Read on to find out how to avoid those realtor fees or, at the very least, minimize the amount you have to pay.
What are realtors’ fees?
Realtors get paid by charging the seller a commission on the price of the home when it sells. Traditionally, realtors’ commissions have been 6%, which would mean that a house that sells for $250,000 would net them a fee of $15,000. This fee is split between the buyer’s and seller’s real estate agents but it is the seller who must pay both fees.
Is there any way to pay less?
You may start by talking to different real estate brokers and asking them about their fees. You might be surprised to find one that would charge you less. Although you may want to ask them about their experience in real estate sales. You don’t want to work with someone that will charge you less just because they are getting started in the field.
If you have dealt with a broker previously and like the way they work, it may be worth it for you to negotiate with them to see if they will agree to a lower fee. You lose nothing by negotiating down the fee and may end up with extra money in your pocket. Other steps you can take are:
Find a Discount Real Estate Agent
These days, you can work with a brokerage service that charges less. By offering you a basic service for a flat rate of $1,000 or less, they will list your home for you on MLS. It may be enough to get your house sold but it may also require that you do your own marketing. And if you get an offer you don’t like and want to make a counteroffer, you are on your own.
Potential buyers can see that the house has been listed through a flat-rate brokerage and it may send them the wrong message and dissuade them from even looking at your property. But if you are not in a rush to sell and are good at pricing and marketing your home, this service might be just what you need.
Sell it on Your Own
By taking this path, you will definitely save the realtor’s commission. And that is not something to be taken lightly because it can mean an important amount in your pocket.
If this is how you choose to sell your home, you should be aware that there will be some responsibility on your shoulders. You must do all the marketing on your own, you must organize your own open houses and let people meander around your home, you have to determine the listing price, and understand the required paperwork, just to name a few tasks. Not only that, but statistics show that you will probably end up selling it for less than you would with a realtor. They are experts at what they do and will most likely get you a higher price.
Sell your House to an All-Cash Buyer
If you want to sell your house fast, without having to worry about fixing that leaky toilet, improving the curb appeal, or repainting your home, an all-cash buyer might be just what you need. Maybe you really need to sell and have no time to waste, you are about to be relocated with your job or have recently gotten a divorce and it is imperative to sell the property as soon and as painlessly as possible.
Whatever your motives to sell, there are specialized firms that offer to buy your house for cash in the condition that it is now, with no inspections. They will review your property’s information, make an onsite assessment, and present an offer based on several data points. Closing can take place quickly and will give you the best results by selling a house without a realtor.