Selling or renting your home is a stressful process, one that is alleviated if you hire a Real Estate Agent. Take no offense in this sentence: You don’t NEED a Real Estate Agent or Broker to sell your home. Becoming a Real Estate agent is one with little barriers. Pass a test you can study for in a few weeks time, pass it, and you can help buyers and sellers.
Because Agents take a Massive Cut on Houses, one begs to ask the question: Can You Sell a Home on Your Own and Pocket and Save the Massive 6% Charge?
Why You Should Sell Your Home Without an Agent
The cost for a homeowner to sell with a real estate agent/broker can cost you up to 6% OF YOUR HOME! It’s no wonder, if you submitted your info on Realtor.com or Zillow, that you’ll receive dozens if not hundreds of calls from prospective realtors. To get your home listed on Realtor or Zillow includes the process of getting into the MLS or Listing Service.
Little do people know that you can actually pay a flat fee mls cost and sell directly to potential buyers without having to deal with an agent!
First off, 6% of the average $250,000 home is $15,000. Do that math here, and you’ll see that Real Estate is one of opportunity whenever it comes. If you have the time to take pictures of your house (in an orderly fashion), you may find the listing with a Flat Fee MLS is something right up your alley.
Realtor and Zillow, among other real estate listing sites, are wildly popular and are a massive source of house searches these days. Sure, you can capture even more updated listings on a Real Estate companies MLS system. And yes, paying for a Flat Fee MLS you’ll be listed on these services, but be wary of any potential Real Estate Agent looking to jump aboard selling your home for you.
Selling Takes Legal Paperwork
For a buyer to afford your potential home, they’ll likely take out a mortgage. Along with title and closing documents, this is where paperwork and the legality of things come in. Fret not! Along with plenty of Real Estate Agents, there are tons of Real Estate Lawyers out there willing to help out, for a lot less than 6% of your home.
Better yet, use Thumbtack to find a highly rated Real Estate professional and speed the process of finding the right people to take care of you!
Try the Richr App
We weren’t the only ones thinking about how much brokerages take off a final sale. With money being tight in this financial landscape it’s obvious to app makers there’s a good opportunity within this space.
Richr, an app based in Miami, acts a self-service MLS product that will list your homes for you and guide you through the home selling process. It’s Free and Super Easy to Use, in fact, we think they’ll be more apps like this coming!
Sell to Opendoor
Another alternative to avoiding high fees would be to sell to the latest Real Estate app called Opendoor. Opendoor acts as a standalone real estate brokerage where you can sell (or buy) a home fairly quickly and not have to worry about house showings.
They say they’ll offer a competitive rate for your home, and we can’t vouch for that just yet, but it’s unique, and to be honest…and obvious innovation that was sure to come within Real Estate.
If you have Bluetooth and Wi-Fi enabled locks these days, why in the heck do you need an agent to show you home anymore? With Opendoor, use an App to see Available Homes!
Selling the home on Opendoor will include a complete assessment including inspection, potential repair costs, and more and include those into the final offer. While the app only operates in several rural based areas, we can see this one expanding over the years, and perhaps change the Real Estate Landscape for good.
As a Buyer, Just How Accurate is Zillow?
According to multiple realtors we’ve met with, Real Estate Listing Services or (MLS) portals are way more accurate than the latest Zillow or Realtor.com listing. We’ve heard that there is a slight edge to Realtor.com for being a bit more updated.
Where Zillow Fails to be Accurate
Love a new listing you found on Zillow? Don’t get too excited. Many of the current houses found on Zillow, particularly ones with a lot of pictures have had tons of interest. It’s a buyers market which means: The House you want is probably off the market.
Other issues we’ve found:
- Old Listings
- Contingent Listings are old
- Pending listings can be as old as one month
- Prices are not the typical asking price
Zillow Makes Sense
Zillow can be a portal for those willing to sell their own houses directly through MLS and avoiding the Real Estate brokerage fees. Lots of people don’t know this is possible, but it is!
Zillow’s popularity is unparalleled even though listings and pricing may be a tad off. Realtors and Agents can list these houses and gain a bunch of clientele through the client info forms.
FYI: DO NOT ENTER YOUR INFORMATION ON A HOUSE FORM UNLESS YOU ARE INTERESTED IN THE TYPE OF HOUSE
You have been warned!! Entering your info in one of these forms will get you a ton of emails, texts, and calls from agents.
Overall Zillow is OK But in General: Not Up to Date
For those who want to figure out what kind of house you want and the area, Zillow and other Real Estate programs fit the bill. You’ll find MLS systems to be clunky and not very user-friendly. Still, if you want to buy a house, you may have to connect with a realtor to get access to one of the updated MLS apps (which are admittedly hard to find).