How to Sell Your House Without a Realtor in 2024?

Real estate agents charge 3% to 4% commission during a house sale, which affects your overall profit. That’s why selling a house without a Realtor can be a good idea. There are plenty of ways to sell your house without a Realtor.

For Sale By Owner websites like Houzeo can be an ideal option for you. With Houzeo, you’ll be able to save thousands on agent commissions. Besides this, your home will also get listed on the MLS and have wide exposure.

How to Sell Your House Without a Realtor in 2024?

We have divided the entire process of selling your house into a step-by-step guide. Just follow these steps and get the best value for your house without the hassle of paying a real estate agent. 

1. Decide the Right Time to Sell Your House

Most people buy or shift to a new house during spring and in June and July. This is due to the weather and start of the school year. You can potentially fetch profits of more than 10% on your house in this period.

Additionally, there was a price surge in 2023 due to limited supply and high mortgage rates which eventually drove off interested homebuyers. But now mortgage rates have come down to 6.77%. This also indicates that now is the best time to sell a house.

2. Price Your House Competitively

It’s crucial to determine the right price for your house. Utilize online tools and county records to research comparable sales in your area. Aim for a competitive price that reflects your home’s condition and the current market.

Avoid overpricing to attract potential buyers. Pricing it appropriately from the start maximizes buyer interest and ensures the best value for your property.

» How to Price Your Home for Sale: Here’s an elaborated process to price your home right!

3. Prep Your House for Sale

Before you list your house for sale, invest time and effort into getting it market-ready. Declutter, repair, and renovate to enhance the overall appeal and value of your house. You can also brighten up your house with additional lighting.

Furthermore, pay special attention to curb appeal by maintaining the exterior and landscape. These efforts can significantly improve the overall impression of your house on potential buyers.

4. Market Your Property Right

Sales and marketing go hand in hand. You can use multiple traditional and creative ways to market your house. Highlight the unique features and selling points of your property in your marketing materials.

• Utilize the MLS: You can list on MLS to sell faster and for approximately 13% more. Craft an enticing description and include high-quality photos to boost the appeal of your property.
• Display a Yard Sign: A prominently placed yard sign can catch the eye of potential buyers in the neighborhood. Invest in an attractive For Sale By Owner sign to attract local interest.
• Invest in Professional Photography: You can speed up the selling process by 32% with professional photographs. Ensure your listing stands out with visually appealing images that showcase your home’s best features.
• Leverage Social Media: Share your listing on various social media platforms to reach a wider audience. Include relevant details and your contact information to facilitate easy communication with interested buyers.
• Create Sales Flyers: Prepare informative flyers or brochures to distribute to interested parties. These materials should highlight key details such as the property description, list price, address, and contact information.
• Explore Craigslist: Utilize Craigslist, one of the largest ad platforms, to advertise your property. Follow best practices for posting on Craigslist to maximize exposure and attract potential buyers.

5. Host Open Houses and Manage Showings

Allow potential buyers to explore your home through open houses and showings. Choose the timing wisely like Sunday afternoons or a weekend, when people are relatively free. Also, be prepared to answer all the questions.

Furthermore, promote the open house through MLS listings, social media, and word of mouth to attract buyers. Print brochures with photos and information about your home to distribute during the open house.

6. Negotiate Offers Wisely

Lead management becomes essential when you are flooded with multiple offers. Seek advice from a real estate attorney to protect your interests. Consider factors like offer price, contingencies, and closing timeline during negotiations.

Also, maintain open communication with potential buyers and stay flexible to reach a mutually beneficial agreement. Carefully review and negotiate the terms of the sale. If an offer doesn’t meet your expectations, you can counter or politely decline it.

» How to Understand Multiple Offers: Houzeo gives you an easy-to-use calculator to evaluate multiple offers.

7. Close the Deal

On closing day, sign the necessary paperwork to transfer ownership of your property to the buyer. Work closely with your buyer’s lender, attorney, and title company for a smooth process.

If selling without a Realtor, handle tasks like title transfer and home inspection yourself. Average costs include $350 for inspection and $313 to $421 for an appraisal.

Paperwork Required for Selling a House Without a Realtor

You will need four types of paperwork or documents when selling a home without a Realtor:

• Seller Disclosures: These mandatory forms disclose the property’s condition as per state laws. Each state has its requirements, so check our state-specific blogs for details.
• Inspection Paperwork: This includes a report by a licensed inspector. This report details any undisclosed issues in the house that may affect the sale price or lead to repair requests.
• Appraisal Paperwork: An appraiser assesses the home’s value using real estate comps. They determine the appropriate price and focus on market value rather than issues.
• Closing Paperwork: You’ll need to sign various documents on the closing day such as loan payoff, HOA documents, proof of repairs, and home warranty.

» Paperwork for Selling a House Without a Realtor: Paperwork you need to successfully sell your home.

Pros and Cons of Selling a House Without a Realtor

Selling a property without the involvement of a real estate agent is a substantial endeavor. Let’s examine some of the pros and cons involved so you can assess whether selling a house by owner is an appropriate choice for you.

Pros

Here are some specific benefits to consider:

• Sellers have the potential to save money on commissions in FSBO.
• FSBO Sellers have control over the process.
• Houses often sell more quickly.

Cons

Here are some drawbacks to be aware of:

• FSBO sellers may still be obligated to pay the buyer agent commission.
• Pricing property accurately can be a challenge. Over or underpricing will impact the selling process.
• Inexperienced negotiation skills may put FSBO sellers at a disadvantage.

These pros and cons will help you make an informed decision.

Alternative Ways to Sell Your House Without a Realtor

When it comes to selling your house without a Realtor, you have a few options. Making the appropriate decision at the right moment can save you a lot of money.

Sell Your House to an iBuyer

Cash buyers offer convenience and speed, but charge higher fees and provide lower profits. Platforms like Opendoor provide cash offers online, saving time on listing and waiting for bids.

While cash buyers’ offered price may be lower, they’re a swift route to selling. Last year, cash sales made up around 34% of all home purchases. This shows that more people are opting for cash buyers because of efficient transactions.

Sell to a Real Estate Investor

Real estate investors buy properties to renovate, rent, or resell them for a profit. Selling to an investor can often result in a quick sale, although the offer price may be lower than market value.

Similarly, real estate wholesalers are potential buyers of properties from motivated sellers. They will assist you in finding the ideal buyer and accelerate the sale of your house.

Consider For Sale By Owner (FSBO) Platforms

FSBO means taking on the role of a real estate professional. You’ll handle tasks like preparing your home for viewings, taking photos, setting the price, listing it, and hosting open houses. Houzeo is your way into FSBO to make all the tasks smooth for you.

According to a report by NAR, FSBO sales represented only 7% of home sales, indicating the challenges involved. However, if you’re skilled at marketing, staging, networking, and negotiation, you could succeed.

Opt for Trade-In

While it’s not as common, some homeowners opt to trade in their current homes. Certain companies allow you to sell your home while purchasing a new one. Which means there are no complications of contingency clauses or financing.

This streamlined approach is often referred to as a “trade-in” or “buy and sell” option. According to recent data, approximately 15% of homeowners consider this alternative when transitioning to a new property.

Bottom Line

The majority of homeowners tend to collaborate with real estate agents because of their expertise and connections. This also fetches them higher prices for their homes on the market.

However, there are several strategies you can employ to make sure while selling your house without a Realtor. You must conduct thorough market research, prepare your home for viewing, promotion, and negotiations.

Eager to Know How Houzeo Works?

We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best For Sale By Owner websites in the U.S.

» Need More Clarity? Read these exclusive Houzeo reviews and learn why it is one of the best FSBO sites in America.

Frequently Asked Questions

• How to Sell a House By Owner