Are you thinking about selling your Baltimore house? Do you need to sell your property in a hurry? Then, you need to know all the options available to you. While it is true that many sellers go the traditional route, listing your home with a realtor is not the only way to sell your property. In fact, more people are learning how to sell their property without an agent all the time. This option can have many advantages, especially in terms of time and money. With that being said, here are some tips on how to sell your house without an agent in Baltimore, MD.
Selling Without an Agent Means Thousands of Dollars in Commission Savings
The real estate agent acts as the “middle man” and helps facilitate the sale of the property. One of the biggest benefits of selling your home without an agent is the money you save not only in commissions but also in out-of-pocket expenses when listing the property. When you omit the realtor from the equation, there is not a commission to be paid once the house is sold and no listing fees involved. There are many online sites where you can list your home for free or a nominal fee might be required. You can also list your property in the local newspaper, Pennysaver, and other community resources for a small fee or for free. Bottom line — if you can educate yourself about the particulars and not let the process intimidate you, there is a significant saving involved with selling your home on your own.
By selling your Baltimore house yourself, you will save 6 percent of your final sale price in commissions, which can equal thousands or tens of thousands of dollars depending on the value of your property. Moreover, an agent will typically require a listing agreement, which is a binding legal document that gives them the exclusive right to sell the property. Meaning, no matter how the home is ultimately sold (even if you find the buyer yourself), you will still owe a commission to the agent. Not listing with a real estate agent can seem like a no braining. You save money while having more freedom in how you sell your property.
Make All Necessary Repairs Before Selling Without an Agent
Regardless of whether you work with an agent or not, you will most likely need to make some repairs and/or upgrades to the property prior to selling it. This process often involves unforeseen costs and multiple trips to Home Depot. If you hire a contractor, your costs could be significantly higher. However, if you are selling the house on your own without an agent, these costs can be recouped when the property is sold. If you are considering a DIY effort, only tackle the projects you know you can pull off and leave the rest to professional hands.
When setting your price, do your research and consider what upgrades might help increase the value and appeal of your property. Weigh the cost of the upgrades against how much it will enhance the value and appeal of your home. Make sure you are aware of what other properties in your area are actually selling for, not just their listing prices. It might also behoove you to enlist a professional appraiser to assess the property.
Create a Marketing Plan
Another important aspect to keep in mind is advertising your home in the right way. This means appealing pics and a detailed write-up about your home for the listing page. These are essential elements for selling your property, no matter which way you opt to do it. Make sure all pertinent details and any upgrades are included in the description of your home. If you are too busy or inept with a camera and/or words, then hire someone to take photos and/or do the write-up for you. This is one feature you do not want to skimp on when preparing your house for sale.
Declutter and Prepare Advertising Pieces
As part of the final preparation for listing your property, remember to keep things clean and tidy, make any noticeable repairs, begin the packing process by removing all clutter and minimizing personal items, and compile a list of selling points and/or upgrades to show prospective buyers. You should consider making up a flyer or brochure with this information, as well as your contact info. to hand out to interested parties. It is also important to know the area well. You should know where the schools are, important landmarks and other points of interest, how long commutes take, etc. This is the type of information that realtors typically know cold, so educate yourself when selling your home without an agent.
Don’t Forget the Legal Paperwork When Selling Without an Agent
Once you have found a buyer, you will need to create a contract and should accept only offers in writing with a deposit. Without an agent, you will need to handle all the legal and financial paperwork. Therefore, it is best to work with an attorney who you know and trust. Selling a home in Baltimore, MD can be a complicated process where you are help liable. The last thing you want to do is go cheap on the legal side, just to find yourself with a pricey lawsuit later on.
Skip the Work and Sell to a Professional Home-Buying Company in Baltimore, MD
If you are interested in selling your Baltimore, MD property without a realtor and/or need to sell your home quickly, Dependable Homebuyers can help. We’re a professional home-buying company located in Baltimore and can buy your home no mater the condition. If you are interested in a no strings attached offer or simply want more information, contact us through our form or give us a call anytime at (410) 779-4622.