Selling your home without a realtor is possible. It isn’t necessarily easy (although it can be, depending on the method you pick). It will save you money on closing costs and put the control in your hands. Let’s take a look at how much you could save by selling your home realtor-free and the six best ways to do it.
Can You Actually Save Money Without Using a Realtor?
Yes, you can save money without using a realtor. After all, you won’t have to pay the listing fee, which is 2.72% (on average) of the final sale price. You may have to pay the buyer’s agent commission, which tends to be 2.65%. However, selling your home to a company that buys properties for cash gets you around that too. Below, you’ll find six strategies to use when selling your house without a realtor.
#1 Prepare Your Home
Before showing your home to potential buyers, ensure it looks as good as possible. That way, you’re more likely to get a reasonable, quick offer. Preparations should include:
- Decluttering
- Cleaning everything, including polishing hardwood, washing windows, and shampooing the carpets
- Staging your home
- Gardening and/or fixing the landscape to improve appeal
- Repairing damage
#2 Consider Hosting a Virtual Open House
In-person open house events are fantastic if you live in a high-traffic area, but in rural regions, they don’t get a lot of foot traffic. Here is where the internet can save the day! Conduct a live, virtual open house on social media to entice interested parties. Naturally, you’ll want to share your home in the best light and prepare a walkthrough speech to ensure watchers get all the information they need.
#3 Sell to a Company That Buys Houses for Cash
This is by far the easiest way to sell your house without a realtor — use a company that purchases homes for cash. You can even sell your home as-is (yes, even without making any of the preparations listed in strategy one). Real estate investors that buy with cash make the process easy because they don’t use a mortgage for the transaction. This shaves weeks off the total transaction time and makes the deal less complex.
#4 Make Sure Your Asking Price is Realistic
You don’t want to disappoint potential buyers by asking for too much. While it’s tempting to squeeze as much value as possible out of your home, you must ensure you don’t price yourself out of the market.
Conduct thorough research before marketing your house by looking at similar properties in your area. If your property is overpriced and sits on the market for multiple months, it will cost you more money in holding costs.
#5 Promote with a Short and Sweet Video
Post a video on social media to highlight your property’s best features. As per HubSpot’s suggestions, these are the optimal video lengths for each platform:
- Facebook — 2 minutes
- YouTube — 2 minutes
- Twitter — 45 seconds
- Instagram — 30 seconds
#6 Add Value with Your Flyers
Marketing flyers are still a great advertising tool. Just make sure you add genuine value. Consider comparing “then and now” photos of your house or adding a fun word search. Anything a bit quirky will do the trick. You can post these around your town, in cafes, and at the local recreation center.
A married father of three, Justin Weinger works in private equity as a Corporate Finance Manager, he is also an avid blogger and personal finance enthusiast with a strong history of working in the automotive and publishing industry.
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