When you first hear 5%, you don’t think of that as much. Let’s say you have 10 cookies and need to share 5%, well, you’re only giving away a half of a cookie! Not too shabby! Now let’s talk money. You need to sell your $200,000 home and as the seller, need to pay 5% commission, all of a sudden, we’re not talking about a half a cookie anymore; you’re responsible for bringing an additional $10,000 to the table just to sell your house!
Although we do understand not every situation is meant to be done on your own and we do sometimes work with brokers, it is best to avoid paying a middleman when you are confident in your end results required. Real Estate Agents work hard and earn their money, however, there is no reason you can’t do so as well and save yourself that 5%.
Find yourself thinking, “so, how do I sell my house without an agent in Bristol?”, we can help, fill out the short form over here.
How Do I Sell My House Without An Agent in Bristol?
Did you know that here in Connecticut, the seller of the home is the one who pays the commission fee? The fee varies typically between 5 and 6 percent.
Now, did you also know that the 5-6% you, the seller, is paying is split equally between your agent and the buyers’ agent?
Doesn’t make much sense, right?
Why should you, the seller, be solely responsible for paying the agent on the other side of the table?
Although it doesn’t make much sense to us, it’s just what is done.
If you do decide you want to bypass using a real estate agent, be sure you do not underprice your property! Although you are doing the work of an agent and that price does not need to be factored into negotiations, buyers may try to negotiate the price down further.
Negotiate! Sometimes in Bristol, a seller who is not represented may consider offering 2.5% to the buyer’s agent who brought you the client. Yes, it is a lot of money still, but at least you’re saving on your side of the representation. However, you can always choose to negotiate the price, time frame of move in, and other conditions of sales in lieu of this.
As a seller without an agent, you may find yourself looking for a buyer without an agent. However, if you do this specifically, you may be excluding most of the state’s buyers out there.
More than 80% of all real estate transactions happen through the MLS – Multiple Listing Service. The MLS is the main database that real estate agents and brokers use throughout Connecticut to access information on available properties for their clients. It includes houses, condos, land, investment, and rental properties along with all the data stored on them.
While The MLS is the largest database for marketing your property, you need a real estate license to do so. Compared to the cost of commission, it might be more cost effective to market your property through newspaper ads, real estate search sites and various free websites.
Most of the major real estate search sites such as Zillow and Realtor.com actually get their data from the MLS. The real estate agents want to market their properties to those with agents and without. While every site makes money differently, you can range from posting your property for free or pay for ads to your listing is shown more often.
Advertising is sometimes a gamble. Many times, when an agent lists a property through the MLS, they will offer an open house time to allow for many showings in a small chunk of time. Lucky for you, you too can offer an open house in Bristol, Connecticut!
To efficiently sell your property on your own, you have to market it well!
There are many ways to do this. As mentioned already, real estate search sites such as Zillow and Realtor.com are excellent ways to add your property to the larger online databases. Putting up fliers and signs around your neighborhood and town can also help generate some offers.
Another great place we’ve been seeing some real estate activity is on your local town Facebook page! It is free to post on Facebook and free to share those posts! Asking friends and family to share your property is another good, free way to generate activity.
While there are many free ways to advertise a property, and of course many paid ways, there is no guarantee right way as every property is as different as individual’s fingerprints. Certain properties might require thousands of dollars in advertising before the right buyer happens to see the ad and call.
Are you looking for another answer to the question, how do I sell my house without an agent in Bristol, maybe an even less complicated one?
If you’re looking to avoid paying any commissions, want to sell on the date of your choice, and don’t want to have to look around for a buyer; then sell to an investor like us for CASH!
This Spring we are actively purchasing properties in the Bristol area! Sometimes we’ll purchase the property, fix them up, then rent them out … sometimes we fix them and sell them to other families in the area looking for their next place to call home. Regardless of condition or situation, we are here to make an offer on your house!
Give us a call now at 860-589-4663 or fill out the short form over here!
We pay cash for your property and can close in as little as 3-5 days (or on your timeline)!