If you read home-selling guides or check out real estate websites, the one piece of advice you may have come across is that you need to hire a good real estate agent to sell your home!
There’s the common myth that only the help of a real estate agent will get you the best possible price for your LA home. Typically, real estate agents are considered the buyer’s first point of contact during the home sale. They list your property on the market, find buyers, guide you about the repairs and renovations, suggest the best stagers, and lend a hand during open houses.
The catch is that real estate agents make a living from their sales commissions. Generally, the commissions range from 5% to 6% of the sale price and are borne by the seller. So, when you hire a real estate agent, be prepared to lose thousands of dollars of your potential profit.
But can you sell your house on your own? Is it possible to sell a house fast in Los Angeles, CA, without hiring a realtor?
Hiring a real estate agent to sell your LA home is not compulsory. You can sell your home on your own directly to interested buyers. So, what are your options when you don’t hire a real estate agent? Here are the three main ways to sell your house without a realtor.
1. Sell to Trusted Cash Home Buyers in Los Angeles, CA
Cash buyers are an excellent choice if you want to make a speedy sale. They are individuals or investors who buy the home outright from you without requiring bank financing. They guarantee a quick and hassle-free sale, but you might have to compromise your profits.
Pros:
- Make a fast sale, usually within 30 days
- Avoid home inspection delays
- Skip the hassles of marketing, like cleaning, staging, and prepping the property
- Sell directly to real estate investors without dealing with intermediaries
- No fees or commissions
- Buyer pays the closing fees and handles the paperwork
- You choose the closing date
Cons:
- Sale price is often lower than the market value because it’s an as-is sale
2. Sell With a Real Estate Attorney
If you already have an interested buyer (a friend, relative, or neighbor), you can close the deal without hiring a real estate agent. Instead, you can hire an attorney to help you with the paperwork. Real estate attorneys specialize in real estate law and can help you draft contracts and legal documents.
Pros:
- Attorney oversees the paperwork so you can avoid any legal issues
- Attorney resolves any disputes that might arise during the sale
- Attorney fees are generally cheaper than real estate commissions
Cons:
- Need to have a buyer already
- Attorney won’t help you get the best price
3. Sell Your Home on the Open Market Without a Realtor
Selling your home on your own on the market is called an FSBO (for sale by owner). You manage the entire process from start to finish. You’ll need to advertise the listing, market it, host open houses, and conduct negotiations with buyers. You even handle the paperwork on your own.
Pros:
- You save on real estate agent commissions
- You have more control over the sale
Cons:
- You do all the work, including marketing, paperwork, and negotiating
- Time-consuming
As you can see, selling your LA home independently without a realtor is possible. Review the pros and cons of each option and choose the right one that helps you make a quick and profitable sale.