Can I sell my home without a real estate agent?
Tell us if we’re correct in thinking that you are ready to sell your home but you’re not quite sure if you want to use a real estate agent. Does this sound like you? If so, keep reading. In this article we show you the best way to sell your home without a real estate agent. The answer to the question, “Can I sell my home without a real estate agent?” is simple—yes!
Spoiler alert! Selling your home without a real estate agent is a great option. As private home buyers, we buy houses for cash without all the time consuming effort of working with a real estate agent. Plus you save money because you pay $0 in commissions.
Is there another option for selling your home without a real agent?
According to a recent article published in 2021, real estate agents in Ontario make between 5-8% in commissions. While this might seem low, it is money coming out of your pocket on the sale of your home. Using a real estate agent does have its perks, for sure, however, you have options when it comes to selling your home without using a real estate agent. If you are looking to sell your home quickly and SAVE MONEY in the process, there is really only one proven option. That option is working with a private home buying company. These professionals are also known as cash house buyers.
Of course there are more than one option to sell your home without a real estate agent. We, obviously, are biased towards selling your home to a private home buying company like us. The other option you can consider is listing your home as a “FSBO” which stands for “For Sale By Owner. In the next couple of paragraphs, we are going to highlight the pros and cons of the quickets of these two options.
Before diving into these, keep in mind that when it comes to selling your home, the choice of how you sell it is up to you. We encourage you to look seriously at the needs of your home, your current financial situation and, most importantly, the timeline in which you need to sell your home. Each of these items is critical to know and understand before going into the marketplace to sell your home.
Okay, enough of our ranting…. Let’s get into the two best options you have to sell your home without a real estate agent.
Sell your home to a cash house or private home buying company
If you are new to this option, remember this; selling your home to a cash house buyer is all about speed. The speed of getting an offer. The speed of closing on your house. The speed of cash money in your pocket. What exactly is a cash house buying company? Cash house buying companies are professionals who bring private capital in order to purchase your home. They do not rely on banks or lenders to purchase your home. This is why selling your home to a cash house buyer can be done with such speed. For example, we buy houses using our three step process.
PROS:
Never pay high commissions or fees.
When selling your home to a cash house buyer, you will never pay high fees or any commissions. You save that money. A professional, legitimate, cash house buyer will never charge you commissions.
Save money by not paying for home renovations.
You do not need to pour money into your house by completing major home renovations. Why do people spend the money on these needed renovations? It is to get the home market ready. Home repairs today are costing homeowners more than ever. That means more money out of your pocket that you are unsure you can earn back on the sale of your home.
No open houses or walkthroughs
Nobody likes the inconvenience of scheduling multiple walkthroughs for their home. Especially in today's world. When you sell your home to a private home buyer or cash home buying company, there is typically only ONE walkthrough before receiving an offer for your home. No need to hire a professional cleaning service to come deep clean.
We buy houses AS-IS.
As a cash house buying company, we buy houses in Simcoe County, the Durham and York Region AS-IS. This means we will buy your house in its current condition. There is no need to spend one penny to clean, fix up or improve your house.
We GUARANTEE that when you work with us, we will buy your house at a fair price for the current condition of your home. There is no other private home buying company in Ontario that can make a guarantee like that.
CONS:
The sale price might be lower.
Wait. Don’t leave the page. Let us explain. The reason we say the sale price might be lower than if you used a real estate agent to sell your home is simple. In order to get top dollar for your home using a real estate agent, it is critical to complete the following steps:
Pour $5,000-$10,000+ into making the necessary upgrades and completing all major renovations
Hire a professional photographer to take great photos of your home before listing it on a MLS
Go through bidding wars
Pay high fees
Wait 30-90+days to sell your home which means 1-3 additional months of paying your mortgage, utilities and all other bills.
So yes, the dollar figure of a cash house buyer might be lower than if you listed it with a real estate agent, but there are some very important factors to consider. After paying high commissions, completing the necessary renovations and upgrades, potentially paying all your home bills for the next 1-3 months and the stress of selling your home, the extra money you might make on the sale of your home could potentially be less in the end.
Bidding wars on your home do not happen
In today’s market, when you sell your home with a real estate agent, there will most certainly be a bidding war for your home. When this happens, you, the seller, typically will receive an above sufficient sale price for your home. When you sell to a cash house buyer, no bidding wars happen. Yes this is a con, however, if you need to sell your home fast, say in the next 15 days, you do not have time to entertain a bidding war.
To wrap things up
We know that we threw a lot at you in this article. We hope you have learned that yes, you can sell your home without using a real estate agent. You have options. If you are still planning on selling your house without a real estate agent, you now know that we, Lewis Brothers Properties, is a quick and stress-free option. Remember, each home sale strategy has its pros and cons. We encourage you to explore the option of selling your home without a real estate agent and consider selling it to us. If you want to understand our process on a deeper level, click here and listen to our owners, Rick and Don Lewis, explain it in great detail.
If you live in Simcoe County, the Durham Region or the York Region and you need to sell your home quickly, give us a call today. 905-260-9779. Our team is ready to answer any questions you may have.
