Have you been thinking about trying to sell your house or investment property in Akron without using a real estate agent? If so, read on!
We love our local real estate agents and partner with them for certain transactions. With that said, sometimes it makes sense to sell without using a broker and paying commissions.
Often times when you use a real estate agent in Ohio, you can expect to pay around 6% in commissions. There are occasions when this makes sense financially and is worth the cost, but that is not always the case! If you would like to sell your house in Akron or surrounding areas and SAVE those commission fees to have more cash in your pocket, we can help!
How Do I Sell My House Without An Agent in Akron?
Let’s go over some ways you can avoid paying high commissions in your Ohio sale.
To start, it helps to understand where that commission is going.
Usually for sales in Akron, about half of the commissions you are paying when you sell a property are actually going to the BUYERS agent.
Doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
Well, that’s just how it is done! Even if the buyer found you on their own, if they are working with a buyers agent you will be paying them commission!
You can use that to your advantage in a few ways.
First, factor in the commissions paid when you’re looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your property – be aware that a savvy buyer may expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Akron, buyers who aren’t represented by an agent won’t remember to negotiate the buyer’s side commission out of the price for themselves, so don’t remind them if you don’t want to pay them. Just don’t be surprised if it comes up during the negotiation.
You may want to consider offering 2.5% to buyer’s agents who will bring their clients to show your property. Sure, it’s a lot of money. If you’re pricing your property including that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
On the other hand, if you don’t leave room for the buyer’s agent’s commission, you’ll be excluding most of the buyers in the market in Akron.
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all the brokers in Akron use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in Akron, there are a few brokers who will charge you a fee just to list your property on the MLS. Often, you spend a few hundred bucks and you only pay a commission if the sale closes.
The MLS is the standard way of marketing your property if you are choosing to “list” your house. Quite literally, that’s what real estate professions talk about when they say “list your house” – listing the property on the MLS.
Major real estate websites with home listings (ie Zillow, Redfin, Realtor.com, Trulia, etc) get their information from the MLS. Generally speaking you can bet that if you list your house in Akron to the MLS, that property listing will hit most of the major sites within days.
What comes with listing the property on these sites is showings as the next step. You need to have your house cleaned, prepped, and staged to sell, and then KEEP it that way for showings that will pop up for prospective buyers. This can be a tedious and inconvenient process, but that’s the name of the game if you’re listing.
Advertising is a gamble. Sometimes open houses in Akron Ohio can be a great way to sell a property, and sometimes they’re a waste of time. This is the same story with other advertising forms – craigslist, facebook ads, yard signs – they may find you a prospective buyer or may be a waste of your time.
To effectively sell your property on your own, you have to market it well.
If you are deciding to sell your house all on your own, you can try things like listing on social media, putting an ad in the newspaper, posting fliers, putting up signs, etc. It’s possible that this can bring you a buyer, but sometimes it just isn’t enough. Generally speaking, usually a lot of people need to see the property to find the “right” buyer that’s actually ready to pull the trigger on a purchase. This can be even more cumbersome if the property needs repairs, or has any other undesirable features that maybe you don’t want to or can’t deal with at the moment. After all, this is what real estate agents get paid for – spending money to market the property to find the right buyer. If you want to sell your house in Akron or NE Ohio and AVOID paying these realtor fees, skip the hassle of marketing the property, fixing it up, staging it for sale, and then going through showings week after week looking for the right buyer, using a company like Best Offer Real Estate Investments could be the perfect fit for you.
If you want to avoid paying any commissions, you can also sell your house to investors like us for CASH
We offer fair prices on properties and can close QUICKLY without a lot of hassle for you! There is no need to do repairs, stage, market, etc. We can even handle the clean out of the property or deal with a problem tenant. Not only will we never charge you any broker fees or commissions, we will even cover the closing costs to get you more cash in your pocket.
Sometimes we will fix up the property to rent out to someone looking to rent in the area. Sometimes we will renovate the property for another family to purchase. We live in these neighborhoods and are committed to fixing them up, one house at a time. We will buy properties in Cleveland, Akron, Canton, Toledo and surrounding suburbs. If you are considering selling anywhere in Ohio, we would love to hear from you and see how we can make your real estate transaction as smooth and easy as possible. Even if you aren’t sure which directions you’d like to go or what your next step is with your property, we are happy to review your situation with you and help you evaluate the options available.
We are local and live in the Akron area. We invest in this community because we care about this community and keeping it great.