Thinking of selling? The sell my house without an agent method of selling used to be quite a rare commodity, but nowadays a quick private sell house or sell house by owner Google search returns a multiple of sell my house privately options.
A savvy seller will do plenty of research before putting his/her home on the market— I am assuming that you are just that, (a smart, savvy seller) and therefore won’t rush into signing up with anyone without knowing the facts. It’s also wise to check out a few professional recommended real estate agents in your area.
The obvious key reason that most private sellers decide to sell without an agent is to save thousands of dollars on commissions and potential advertising fees that would otherwise be payable. That’s totally understandable– but unless you are super confident in being able to expertly navigate the real estate selling process from start to finish, you may be better off hiring a licensed real estate agent. After all, your home is very likely to be your largest financial asset. Perhaps you can negotiate the agent’s commission and/or terms to better suit your budget. Most real estate agents are quite approachable and will happily discuss potential options. Just ask.
Typical Pros & Promises of Listing Your Home on Private Sale Portals
Selling your own house without an agent is incredibly easy, and best of all you’ll save thousands of dollars in commission and advertising fees.
Key Benefits to Listing, Marketing & Selling Your Property Privately
- You’ll save $$$ in commission and expensive advertising fees (usually between $15,000 to $50,000).
- Free except for the cost of photographs, listing on real estate portals, etc
- No Commission on selling your House– ever
- No lock-in contracts. You as the property owner are in full control
- You deal directly with potential buyers– no agent or middleman to deal with
- Sell quickly based on your own schedule including open homes and private viewings that suit you.
Negatives & Potential Pitfalls of Selling Your Home Without an Agent
It’s never really FREE to sell your house as there are specific costs involved including professional photography, uploading to real estate portals, service fees to access/use the sale by owner platform, and legal costs just to name a few. And that’s if things go straightforwardly! Hit a snag in the real estate selling process that a professional agent would normally handle? Let’s just say that things may escalate quickly, becoming complicated and very costly as an owner seller.
Key Risks to Selling a House Privately
- Most sellers do not have the skillset to solicit the optimum price from prospective buyers leading to Excess $$$$ Left on the Table
- Lack or limited real estate industry knowledge, comparative property market sales prices, procedures, multiple offers, legalities, etc. including the administration of advertising, organising, hosting, and coordinating regular open homes, record keeping, legally binding documents, contract of sale, etc that comes with selling a house.
It’s Up to You as a Seller to Decide
You may decide to sell your property with a real estate agent, go 100% solo and market your home for sale via Gumtree or Facebook, or choose one of the Sell Your Home Privately Portals— at the end of the day, it really is up to you to decide which process of selling to go with.
There is certainly a potential to save some commission, but you have to make the call if it’s worth the effort and risk, especially knowing that you may not get anywhere near the same outcome as a professional real estate agent would.
You may like to read our post on Choosing a Listing Agent
Top 10 Sale by Owner Portals
As promised, here are the top ten online sale by owner real estate portals that will help you sell your home privately. Be sure to thoroughly check them out before deciding to sign up for their services.