It seems like everyone wants to DIY (do it yourself) these days; everything from managing our own stock portfolio, creating our own wills, DIY home improvement projects, etc.
As independent as everyone is, why wouldn’t you want to look at the pros and cons of selling your house without an agent in NC?
Saving Your Money
Agents cost money. As a company that buys and sells houses in Raleigh NC, we pay a significant amount of money in agent commissions. A real estate transaction can cost six percent of the final property sales price. If a property sale price is $400,000, this can cost sellers $24,000. This is a lot of money!
This is a considerable amount that is taken from the final sale price. If a seller still has high mortgage balances that need to be paid off, eliminating commission costs is a huge advantage. This cost savings alone is worth serious consideration if you need to sell a house fast.
You’ll have to decide upfront if you are willing to cooperate with a buyers agent. Many buyers, even ones that do their own online research, have entered into a buyers agency agreement with a local agent. If you decide not to cooperate with an agent, that is your choice, although your pool of buyers will shrink substantially.
If you do decide to cooperate with a buyers agent, budget for 2.5% – 3% of the purchase price to pay the agent.
As of this writing, selling a house in Raleigh NC is much easier than it was a few years ago. The lack of inventory on the market has created a huge demand for housing. One advantage of having an agent in the home selling process is the qualification of the buyer. Sure, someone can show up and make you an acceptable offer on your house, but how do you know they will qualify for a loan? Even with a couple thousand dollars of earnest money, having a property tied up on contract only fall through later is extremely costly. This is especially true if you have bought another house and will now have two mortgage payments!
Having agents, and lenders in place to thoroughly qualify a potential buyer is very valuable and should not be overlooked. If you choose to take the direct sale route, and easy way to qualify the buyer is to contact a company that buys houses for cash in Raleigh NC!
Properly Pricing Your Property
Not every home that goes up for sale actually sells. At least 2% of the listings will sit an entire season unsold for a variety of reasons. The discipline of pricing your home correctly is where most home sellers go wrong. There are a few solutions to this if you decide to take the DIY route.
- Learning how to effectively pull comps for your home is one of the best ways to do this.
- Gettin an appraisal from a licensed professional appraiser is another great method. This will give you a solid asking price with extra credibility based on the appraisal.