selling | learn

Can I Sell My House Without a Realtor?

Written By The Simply Homes Team | July 7, 2022 | 4 minute read

If you’re looking for hassle-free options to sell your home, you may ask yourself: “Can I sell my house without a realtor?” As a matter of fact, you can sell your home without hiring a real estate agent, and there are many great reasons to do so!

There is much to gain from choosing the solo route when you sell your home, but sellers without a background in real estate will need to do a bit of research before they are ready to go it alone. Fortunately, we’ve collected plenty of useful information in one place to get you started on the right track. Here's what you should know about the two major options to sell your house without a realtor.

Why Sell Your House Without a Realtor?

Before you commit to selling your home alone, you should understand the benefits you could enjoy. The possible cost savings are perhaps the most enticing motivation for most sellers. The average real estate commission on a traditional sale is around 6% of the sale value. The seller pays these fees, and the involved agents and brokers split the commission.

Selling your house on your own greatly decreases the number of parties involved in the transaction, which can reduce delays in finalizing your sale. You no longer have to wait for bank appraisers to schedule repairs or for your real estate agent to return documents to the lender. All this adds up to significant time savings when you choose to sell without a realtor.

Option 1: For Sale by Owner

For sale by owner is the option for house sellers who want complete control over the sale. The seller will negotiate pricing, arrange showings, and give their unique perspective as the owner of the house. Before this, the seller will need to perform any necessary repairs to get their home market-ready before they schedule an open house.

As the homeowner, you should be ready to take advantage of several avenues to market your home for sale by owner. To reach the widest audience and get more interested buyers looking at your house, you can leverage resources such as social media, online advertising, and classic yard signage. You even have the option to pay a small fee to list your house independently on your local multiple listing service.

Listing as for sale by owner can help you sell quickly, although sales to known buyers play a part in this metric. According to the 2020 Profile of Home Buyers and Sellers by the National Association of Realtors, “Seventy-seven percent of FSBO homes sold in less than two weeks—often because homes were sold to someone the seller knows.”

These quick sales are possible when the buyer has full control of listing and marketing the home. If this option sounds right for you, Simply can help you take charge of your for sale by owner transaction!

Option 2: Selling Off-Market for Cash

Homeowners who are looking for the quickest and easiest sale possible should consider the benefits of off-market cash sales. Selling to a cash buyer eliminates several steps of the home sale process—that means no mortgage loans and no traditional inspections or repairs.

Cash offers allow for secure sales with less risk. In a traditional sale, changes in the buyer’s circumstances may disqualify them for financing after you have already reached an agreement. Similarly, a poor outcome from your home’s appraisal could cause the arrangement to fall through if the appraised value is significantly lower than expected.

Selling your home to a cash buyer eliminates many variables that introduce risk into the equation. Instead of waiting days or weeks for the buyer to work through financing, you receive a cash-on-hand guarantee.

If you’re unsure about the value of your house but are interested in selling to a cash buyer, here’s a tip: Many real estate agents will perform a comparative market analysis for your home at low or no cost if you reach out!