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Three Ways to Avoid Agent Fees When You Sell

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The average real estate agent charges around 2.5% on the sale of the home. The agent fees cover the cost of listing the home, filing the proper paperwork, hosting open houses, and assisting with the closing. While 2.5% may not sound like a lot, if the buyer asks you to cover their portion of the agent fees, you could be out 5% of the sale price. If you sell your home for $450,000, that’s a $22,500 fee.

If you want to avoid agent fees, you have a few options.

  1. Keep the home and use it as a rental
  2. Do a for-sale-by-owner
  3. Sell your home to a cash buyer

Keep your home and use it as a rental

If you have the flexibility in your budget, you could keep the home and rent it out to tenants. There are some pros and cons to this option.

Pro: You could create an additional income stream. You could turn your house into a money-maker. This could be incredibly profitable if you own the home outright or if you’ve paid off a portion of the mortgage.

Con: Being a landlord is tough. Renting a home can be a lot of work, depending on the condition of the home and the tenants you choose. Since you own the house, you’ll be responsible for maintaining the property as well as paying property taxes. If a tenant doesn’t pay and you owe on the home, you’ll still have to pay the mortgage.

Do a for-sale-by-owner (FSBO)

If you have the flexibility in your budget, you could keep the home and rent it out to tenants. There are some pros and cons to this option.

Pro: You could create an additional income stream. You could turn your house into a money-maker. This could be incredibly profitable if you own the home outright or if you’ve paid off a portion of the mortgage.

Con: Being a landlord is tough. Renting a home can be a lot of work, depending on the condition of the home and the tenants you choose. Since you own the house, you’ll be responsible for maintaining the property as well as paying property taxes. If a tenant doesn’t pay and you owe on the home, you’ll still have to pay the mortgage.

Sell your home to a cash buyer

Another option is to sell your home to a cash buyer. This is often much simpler than selling your home on the market without the help of an agent, and it’s cheaper than selling with one.

Pro: Cash buyers can make a quick sale easier. If your home needs major repairs or you need to sell the house fast, cash buyers are often your best option. Most lenders won’t sell on a property with significant safety issues. The traditional MLS doesn’t always work in favor of the seller regarding how quickly the home is sold. However, a cash buyer can purchase without an inspection, and they can close as soon as you need.

Con: You may fetch a slightly lower price than market value. In a competitive market, you may sell your house quickly and for more money on the regular MLS. If your home is ready to sell and the market favors the seller, the cost of the agent fees could be a price you’re willing to pay.

If your home is challenging to sell because you’re facing imminent foreclosure or have complex or expensive repairs you can’t afford to complete, selling your home to a cash buyer, like Brick, will make your transaction much less stressful.

So, whether you’re trying to save money on the sale of your home, or you need to sell your property fast, reach out today. We can get you an offer quickly and help you save time and money.

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