The real estate commission rates in California, which more often than not reach upwards of 6% of a home’s sale price, are some of the highest in the nation. So, if you know how to avoid realtor fees you could save yourself tens of thousands of dollars.
Saving even a few thousand on an older, smaller house in Marysville or Fresno is nothing to sneeze at—especially if money is tight because of pending medical bills or other time-sensitive financial obligations. But, without paying for the help of a professional real estate agent can you still attract serious buyers who are able, and willing, to pay you a fair price for your home? You can, and we will show you how.
Your Three Main Options to Sell Your Home Without Fees
There are three main ways to sell your home without fees: conducting a for sale by owner sale, selling through a real estate attorney and— the easiest of all of them—selling to a cash buyer like Osborne Homes. Let’s explore each.
Option 1: Sell Your Home as a For Sale By Owner (FSBO)
Pros
Save on Commission Fees
One of the biggest advantages of FSBO is that you don’t have to pay the typical 6% commission to an agent. That’s a significant chunk of your home sale price that you get to keep.
You Control the Process
You’ll have complete control over the process, from pricing to marketing to negotiations. This gives you the flexibility to make decisions that suit your needs.
FSBO Homes Can Sell Faster
Studies show that FSBO homes can sell faster, especially in a competitive market where buyers are actively searching for deals.
Cons
Potentially Lower Price
Statistically, FSBO homes tend to sell for less than those listed with agents. You may not have the experience to price the home optimally or market it effectively.
Time-Consuming
Handling everything on your own, from listing to showing, can be a significant time commitment. You’ll be responsible for all the details, from scheduling showings to handling offers.
Photos and Staging Are Your Responsibility
You will need to take professional-quality photos and ensure the home is staged correctly to appeal to potential buyers. If not done properly, this can hurt your chances of selling.
Risk of Scams
When selling on your own, you may become a target for scams. Ensuring that only serious buyers are looking at your property can be challenging.
Negotiation Issues
Without an agent, you’ll have to handle the negotiations yourself. This can be stressful and result in a lower sale price if not done correctly.
14 Steps to Selling a House as an FSBO
Selling a house as an FSBO takes time and effort, but it’s possible with the right approach. Here are the essential steps to take when selling your home without an agent:
- Research Your Home’s Market Value
Before you sell, research what comparable homes in your area are selling for. This helps you price your home appropriately.
- Set a Competitive Listing Price
Setting the right price is crucial. Too high, and your house might sit on the market. Too low, and you may miss out on valuable equity.
- Prepare Your Home for Sale
Clean, declutter, and make necessary repairs to ensure your home is in top condition for showings.
- Hire a Professional Photographer
High-quality photos can make or break a sale. A professional photographer can capture your home in the best light.
- List Your Home with a Flat Fee MLS Service
To get your home in front of buyers’ agents, list it on the MLS through a flat-fee service. This helps your home get the exposure it needs.
- Market Your Property
Promote your listing online, in newspapers, and through social media to increase its visibility and attract buyers.
- Field Phone Calls and Schedule Tour Requests
Be ready to handle calls and questions from potential buyers. Organize your schedule to accommodate showings.
- Follow Up with Potential Buyers
After showings, follow up with buyers to gauge interest and keep the lines of communication open.
- Review Offers and Negotiate with the Buyer
Review all offers carefully. If a buyer makes an offer below your asking price, be ready to negotiate for a higher amount.
- Manage Contract Timelines and Due Dates
Keep track of important dates, such as contract deadlines and closing dates, to ensure the process runs smoothly.
- Prepare the Required Legal Disclosures
In California, sellers must provide certain disclosures to buyers, including details about the property’s condition and known issues.
- Schedule Inspection Appointments with the Buyer
Arrange for the buyer to schedule any necessary inspections, such as a general home inspection or termite inspection.
- Renegotiate with the Buyer’s Agent Based on Inspection Findings
If the inspection reveals issues, you may need to renegotiate the sale price to account for repairs or other necessary work.
- Navigate the Settlement Process and Close Your Home Sale
Once all contingencies are met, you’ll finalize the sale and close on your home.
Option 2: Sell with a Real Estate Attorney
Pros
Save on Commissions
Though you’ll pay the attorney’s fees, selling without a Realtor still allows you to avoid the hefty commission fees typically charged by agents.
Air-Tight Contract
A real estate attorney can ensure the sale contract is legally sound and protects you. Their expertise can help you avoid legal issues down the road.
Resolve Disputes
If you encounter issues with buyers, having a real estate attorney can help resolve disputes effectively and legally, giving you peace of mind.
Cons
Possibly Lower Sale Price
Without the expertise of an agent, you may not secure the best possible sale price. An attorney won’t negotiate the price for you, leaving you to handle negotiations yourself.
Personal Relationships Could Be Affected
If you choose to work with a family member or friend who is a real estate attorney, there’s a potential for strained relationships if things don’t go smoothly.
10 Steps for Selling a House with a Real Estate Attorney
- Find a Qualified Real Estate Attorney
Research and hire a qualified real estate attorney who specializes in property transactions. Ensure they have experience in residential sales and understand local laws.
- Discuss Your Selling Goals
Schedule a meeting with your attorney to discuss your selling goals, timeline, and any concerns you have. This will help them tailor the process to your specific needs.
- Prepare the Necessary Documents
Gather all documents related to the property, including the deed, mortgage statements, tax records, and any relevant disclosures. Your attorney will need these to draft the sale contract.
- Set the Sale Price
Work with your attorney to set a competitive sale price for your home. They may suggest working with an appraiser or market analysis to determine a fair price.
- Draft the Sale Agreement
Your attorney will draft the sale agreement, ensuring it is legally sound and includes all necessary terms, such as contingencies, deposit information, and closing costs.
- Negotiate Terms with Buyers
Once an offer is received, your attorney will help you negotiate terms. Unlike a Realtor, the attorney will guide you legally but not handle the marketing or active negotiations.
- Address Potential Disputes
If any issues or disputes arise with the buyer, your attorney will manage those negotiations or mediate between you and the buyer, ensuring your interests are protected.
- Review Buyer’s Documents
Ensure the buyer has provided all necessary documents, such as pre-approval letters and proof of funds. Your attorney will verify that everything is in order before proceeding.
- Schedule and Manage Closing
Your attorney will help schedule the closing date and ensure all necessary documents are signed. They will facilitate the transfer of ownership and the legal formalities.
- Finalize the Transaction
On the day of closing, the attorney will oversee the signing of all documents, including the deed transfer, and ensure the funds are properly distributed. You will receive the proceeds from the sale.
Option 3: Sell Your House to a Cash Buyer
Pros
Save on Commissions
Selling to a cash buyer eliminates the need for real estate agent commissions. This allows you to keep more of the sale proceeds, saving you thousands of dollars in fees.
Avoid Home Inspection Delays
Cash buyers often don’t require inspections, which can delay the sale. This means a faster, smoother transaction.
No Stress of Open Houses
Selling to a cash buyer means no open houses. You avoid scheduling multiple showings and the stress of preparing your home for potential buyers.
Skip the Home Makeover
Selling to a cash buyer often means no need for expensive repairs or staging. They typically purchase the house as-is, saving you time and money.
Cons
Lower Sale Price
Cash buyers typically offer lower prices than traditional buyers because they’re offering you a guaranteed, quick sale. While you save on agent commissions and fees, you may not get the highest price.
No Bidding War
When selling to a cash buyer, there’s no chance of multiple offers competing for your property. This can result in you leaving money on the table if your home could have attracted higher offers.
3 Steps to Selling Your Home to a Cash Buyer
- Contact Us
Reach out to us to get started. We’ll discuss your situation and schedule a quick assessment of your property. Whether you’re looking to sell and move out fast or need more time, we are here to help.
- Home Assessment
We will conduct a simple home assessment to evaluate the condition of your property. The process is fast and hassle-free. We won’t require repairs or extensive documentation—just a quick review of your home.
- Close Fast and Get Paid
Once we’ve agreed on the price, we’ll set a closing date that works for you. With cash in hand, you can move on without worrying about extra costs or delays. The entire process is quick and straightforward.
Attract the Right Buyer Fast and Without Any Trouble
Osborne Homes is based right here in California and has been buying homes directly, and quickly, from homeowners across the state since 2009. We pay fair prices in cash, too—without charging a commission or fees of any kind. So, whether you have a home to sell in Marysville, Fresno, or down south in Anaheim. If you want to know how to sell your home for less commission or how to avoid realtor fees altogether, you should give us a call and let us make an offer. Then, if you like what we have to say, 100% of that offer is yours to keep. Sell your home without fees today!
Sell My House for Free Now!
