Oct 24, 2022 - 11m read
How to Sell Your Property Without a Realtor
If you’re looking to sell your home in the near future, there are numerous choices that you’ll need to make. Along with deciding where you want to move and when you should sell, it’s also important to determine how to sell your property without a realtor. Even though it can be more challenging, it’s possible to sell open land and property without a realtor.
Anthony Reinoehl
Co-Founder
If you’re looking to sell your home in the near future, there are numerous choices that you’ll need to make. Along with deciding where you want to move and when you should sell, it’s also important to determine how to sell your property without a realtor. Even though it can be more challenging, it’s possible to sell open land and property without a realtor.
However, there are many aspects of this process that you’ll be tasked with completing yourself. While selling your property with assistance from a real estate agent can substantially reduce the amount of work you need to do, it also increases your expenses since the realtor will need to be paid. Keep in mind that realtors usually set a fee that’s around 3% of the total sale price.
Selling property or land without the assistance of a realtor gives you the opportunity to avoid paying commission fees. The main issue that you’ll need to take into account when selling your property without a realtor is to have realistic expectations of what the process involves. For instance, the buyer has the right to obtain a professional inspection before the sale goes through. They can also request that you make specific repairs based on the findings from the inspection.
If you decide to sell your property without a realtor, there are three options you can select from, which include selling to a cash buyer, hiring a real estate attorney to complete the sale to a known buyer, and completing the sale on your own with the For Sale by Owner (FSBO) strategy.
How to Sell Land Without a Realtor
Even though there are some challenges that come with selling a home without the help of a realtor, modern technological advancements make it relatively easy to perform this task even if you don’t have ample experience with real estate transactions. If you can assess the property value, market your property, fill out paperwork, and close on the deal, you should be able to complete the sale without issue.
Find Out the Worth of Your Land
The first step in this process is to find out how much your land is currently worth. To complete this step, you’ll want to perform proper research and take an extensive look at the surrounding market to identify what your land should be valued at. You should also look into hiring an appraiser.
This professional can provide you with an estimate of what your land’s current market value is based on certain state regulations. Keep in mind that a poor evaluation of your land’s price could make it more difficult for you to sell your property once it reaches the market.
List Your Property on the Correct Platform
You’ll then be tasked with listing your property on the correct platform. Once you’ve determined what your land should be valued at, you should list it on websites and platforms that will allow potential buyers to view your property and make offers.
For instance, you should try to get your listing on the local MLS, which is a multiple listing service that expands the visibility of your listing by a considerable amount. Other platforms like buying/selling websites and social media websites should also be considered. If you don’t list your property where buyers can see it, you’ll find it difficult to garner interest from these buyers.
Choose the Best Offer
At this stage of the process, it’s important to select the best offer you receive. Keep in mind that homeowners don’t always receive offers that match or exceed the listing price. If the market has shifted closer to the buyer or your property isn’t in perfect condition, you might receive lower offers than you expected.
It’s possible to enter into negotiations with the potential buyer in an attempt to get them to increase their offer. The difficult aspect of this process is needing to negotiate with the buyer’s real estate agent. If the buyer has shown a considerable amount of interest in the land that you’re offering, this individual might be willing to increase their offer.
You might also have more negotiating power if you’ve received numerous offers from potential buyers. Make sure that you set a lower limit on what you’re willing to accept when selling your home. Try to make a deal as quickly as possible to reduce the amount of time and energy that you need to spend on the transaction. In the event that your property is on the market for a lengthy period of time, it becomes less likely that it will sell at the asking price.
Compiling All the Legal and Non-legal Records
Once you’ve accepted an offer, the final step of this process involves compiling all of the legal and non-legal records pertaining to your property. All of this documentation must be done without the help of a real estate agent. However, it’s possible to complete the documentation without needing to expend a substantial sum of energy. The main documents and records that must be compiled include:
- Any type of insurance that applies to the property
- Title for the property
- Financial records
- Quit claim deed
- Tax records
- Appraisal
- Loan documentation
- Plat from county clerk’s office
By having these documents on hand, you should show them to the buyer if this individual inquires about them.
How to Sell a House Without a Realtor in Georgia
If you want to sell a house without a realtor in Georgia, there are several options you can select to do so, which include selling your home to a cash buyer, selling your home to someone you know with the help of a real estate attorney, and selling your home on the open market by yourself.
Option 1: Sell Your House to a Cash Buyer
The first option is to sell your house to a cash buyer like CC Capital. This scenario gives you the ability to sell your home quickly and receive cash immediately when the deal closes. Since CC Capital would be buying your home directly, there’s no need to obtain lender financing beforehand, which reduces the amount of time it takes to complete the closing process.
Instead of marketing your home and listing it on the MLS, you can choose to sell it with CC Capital, which involves a simple three-step process. Once you contact us, we’ll evaluate the condition of your home and provide you with the best offer. If you accept this offer, we’ll close at your preferred pace. This may be the best option at your disposal since it will save you a considerable amount of time and frustration.
Option 2: Sell Your House to Someone You Know with the Help of a Real Estate Attorney
One solution that’s often-overlooked by homeowners is to sell the property with the help of a real estate attorney. If you already know someone who would want to purchase your home, you can avoid the entirety of the home-selling process. In this scenario, you would need to hire a real estate attorney who could help you close the sale, which ensures that every facet of the deal is handled in a manner that’s fair to both parties. The legal advisor you hire can also handle any disputes should they arise. Keep in mind that hourly fees that real estate attorneys demand usually range from $150-$350 per hour.
Option 3: Sell Your Home on the Open Market Without a Real Estate Agent (FSBO)
The third option you can choose is to sell your home on the open market without having a real estate agent by your side, which is a process that’s referred to as “For Sale by owner”. Sellers tend to prefer the FSBO process because of the ability to avoid paying commission fees to real estate agents.
However, the increased amount of control you gain over the transaction comes with additional responsibilities. You’ll be tasked with marketing your listing, properly pricing your home, and holding open houses. Along with the cost savings you can take advantage of, you’ll also be able to list your home on the MLS without having an agent. The cost of doing so can be anywhere from $50-$500.
Should I Sell My House Without a Realtor?
Selling your home without a realtor is an option that many homeowners find appealing because of the ability to reduce costs and increase profits. However, this option isn’t right for everyone. Hiring a real estate agent offers a certain level of convenience that’s not readily available when selling a house on your own. Some people will benefit from using a realtor. Other homeowners will benefit from not using an agent.
Selling With an Agent Might Be Right for You If…
Hiring an agent to sell your home may be better if:
- You don’t want to handle price negotiations
- You don’t have time to handle the sale on your own
- You want to keep unqualified buyers at bay
- You want to avoid legal risks
Selling Without a Realtor Might Not Be Right for You If…
Choosing to forgo hiring an agent might be better for you if:
- You want to save money by not having to pay the 3% commission
- You want the closing process to be completed at a faster rate
- You already have a buyer on hand
- You want to sell your home with a company like CC Capital
Selling your property without a realtor is a feasible solution as long as you understand all of your options as well as the work it will take to sell your home. If you opt to sell your home with CC Capital, the process is smooth and hassle-free. Get in touch with us today to put this process in motion.
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