With most real estate agents charging a 6% commission, selling your house to a company that buys houses can be a more financially rewarding path to take. You may even have more control over the entire selling process and negotiating power with the buyer,
So you’re never pushed toward rushed decisions you don’t want to make. You don’t need years of selling experience when selling your house directly to a home buyer. You can secure a quick sale without paying an agent’s commission, regardless of how the market performs.
Below, we look at all the reasons you can sell your house as-is for cash without a realtor.
Realtor Commissions are Too High
Rather than getting paid a standard salary alone, most real estate agents earn money only when a real estate deal goes through. Plus, the process can mean weeks or months of work.
Your agent typically makes a six percent commission on a sale. So if a home sells for $200,000, your agent can make up to $12,000 on the real, depending on what arrangement they make with the buyer’s agent.
The commission split between the buyer and seller agents varies from one agent to another. New agents sometimes earn a smaller commission percentage than experienced agents who sell more homes or more expensive properties.
Generally, you, the home seller, pays the full commission for the services of both their listing agent and the buyer’s agent.
A Cash Home Sale Is a Private Transaction
You may get offers from multiple potential buyers in a traditional home sale. Many of these buyers have a real estate agent representing them to find an affordable home. Since agents have the skill and experience to negotiate deals, they may be able to talk you into adjusting your sale price or the terms and conditions of the sale.
All that goes away with a cash home sale.
A cash sale is a private transaction between you and the house-buying company. The buyer makes an offer, and you either reject it or counter-offer. But you are only dealing with one buyer. Plus, you are dealing directly with the buyer, not their agent. So, you don’t need your agent to broker the deal because a private sale with a single buyer is more manageable.
A Cash Sale Is Faster Than a Traditional Home Sale
A traditional home sale can take months to complete. You have to repair the house, list the house, find a buyer, and close. The entire process can take several months.
By contrast, you can complete the sale of your house with cash quickly, given the right circumstances. Once you verify proof of funds from the buyer, there are only a couple of major steps to complete before you can close the deal.
A cash sale can close in 4-10 business days. However, understand that even if a buyer purchases a home in true cash, the sale will still need to go through the title process.
Once the title process is complete, the buyer draws up the documents required to close the sale. It is also when the buyer hires an escrow company to handle the allocation of funds. With this in mind, It is possible to complete a cash purchase in as little as two weeks.
The bottom line is that you don’t need a real estate agent to go through all the steps above. You can either work it out with the buyer or hire an attorney to manage the deal.
Sell My House Fast to M1 Home Buyers
If you need to sell your house and don’t want to deal with a real estate agent, M1 Home Buyers can buy your house as-is and pay cash. We can look at your house, make a cash offer, and close the deal in as little as seven days. You make no repairs and pay no realtor commissions or closing costs.
Call M1 Home Buyers today at 248-397-5800 to get a fast cash offer.