Are you considering selling your house or rental property in Little Rock? Would you prefer not to use a real estate agent? We can help.
Although we do work with agents from time to time, we prefer not to pay the extra cost to have them involved.
When taking into consideration the 5-6% commission that agents receive with the sale of a property, it may not always be worth it. However, real estate agents can be very useful and earn their commission in certain situations.
How Can I Sell My House In Little Rock Without An Agent?
There are a few ways to avoid paying high commissions in your Arkansas sale.
First, there’s industry standards that you should be aware about.
In most sales in Little Rock, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker.
What do you think about that?
Many sellers ask themselves why they are paying for the buyers agent.
No, it does not make a whole lot of sense but it is the way things have always been done.
You can use that to your advantage in a few ways.
When you are researching the comparable properties recently sold around you, factor in the commissions. If the houses sold for a price that had commission included then pay attention to that.
Don’t underprice your property – be aware that an educated buyer may expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money from the commissions.
In Little Rock, buyers who are making offers on homes without the representation of an agent typically won’t remember to negotiate the buyer’s side commission out of the price for themselves. Use this to your advantage and don’t bring it up – unless you want to get paid less! If you are working with a buyer who knows what they are doing, be prepared for them to bring that up during discussions.
You may want to consider offering 2.5% to buyer’s agents who will bring their clients to show your property. Yes, that is a lot of money BUT if you are selling your property at a price that includes the commissions this can be a huge advantage to you.
If you don’t consider the buyers agent commission and leave that out, you will be missing out of the majority of retail buyers in Little Rock.
Most real estate transactions are facilitated through the MLS. It’s the primary hub of data that all the brokers in Little Rock use to access information for their clients on the current properties on the market and all historical data on properties previously sold in Little Rock.
In the past, just to get your property on the mLS you had to pay a full commission. Things have changed and now in Little Rock there are brokerages who just change a fee to get your property listed on the MLS. The fee is small and you will only be required to pay commissions if the property is successfully sold.
Once a very expensive tool to list your property, the MLS is now a very affordable and effective way to market your property.
Zillow, Realtor.com, Redfin, and other websites get their information from the MLS – but it is delayed a few days. This means that when you list your Little Rock property on the MLS it will appear on these websites soon after.
Using these websites to market and advertise is an effective technique but it does not guarantee the sale of your property. The same can be said for open houses, ads in the classifieds, and other methods of advertising.
To have a chance of selling your property unrepresented, it will come down to marketing.
You can use local advertising methods to market your home, tons of free websites, or even hit the pavement and post of flyers. This could create some traffic and views of your property. The biggest thing to consider is if your property is considered desirable to the average retail buyer.
Real estate agents charge big commissions because they have to spend a lot of money up front to advertise your property. They also charge big commissions because most people think that is the only way to sell a property.
Some properties advertising spend may go into the thousands before it is actually sold.
To avoid paying commissions and fees altogether, you could consider selling to cash buying investors like Sunny Day Homes
We pay cash for properties and we can close on your timeline.
When we purchase Little Rock properties, we will repair them and bring the homes up to modern and current market standards, then we will sell it. Other times, we will fix them up and rent them out to people in the community.
We are a local and honest company and love working with our neighbors in Little Rock.
We close fast (as soon as 14 days). Give us a call now at (501) 400-0505 or fill out the short form over here.