Looking to sell your house in Palm Beach without using a real estate agent? We can help. Home sellers call us every day to sell their property without paying realtor commission.
Although we work with brokerage on occasion, sometimes it’s more profitable to not pay a “middle man.” 5-6% in realtor commission is a large sum of money. Of course, an exceptional realtor can earn their cut of the sale proceeds. However, this not always the case and you are better suited saving thousands on fees.
If you’d rather not pay a real estate agent on your Palm Beach home sale, read on!
We Buy Houses
Call Us (954) 676-1846 or Fill Out This Form For Your FAIR Offer.
Ways to avoid realtor commissions in Palm Beach
Take a moment and understand how real estate commission is paid out. For most Palm Beach home sales, half of commission goes to the listing agent (who you hire) and the other half to the agent representing the buyer.
This doesn’t make too much sense …
Why pay a realtor working for the buyer and not you? You aren’t on that side of the closing table. Although it may not appear logical, this is the customary way houses on the MLS house are sold. However, you can make this work to your advantage.
First, calculate realtor commissions paid when you evaluate neighborhood comps. Did houses similar to yours sell for prices that included commissions? Take that into account.
Be wary of underpricing your property – savvy buyers expect to take a discount too. If you’re not using an agent, tell the buyer’s agent that their agent is only entitled to 3% – not the customary 6%. Palm Beach buyers not represented by an agent often forget to negotiate the buyer’s side commission out of the price for themselves. Don’t remind them if you don’t want to pay them. However, don’t be shocked if it the issue becomes a point of negotiation.
Consider offering 2.5% to buyer agents that bring clients to see your property. Although it’s a considerable amount of money, if you are pricing your property including that commission, you can negotiate a better deal for buyers not utilizing realtors. If you fail to leave room for the buyer agent fees, you could exclude many buyers in the Palm Beach market. Less buyers means less bids, less bids means less competition, less competition means less sale price.
The vast majority of home sales occur on the MLS (“The Multiple Listing Service). MLS is the database that allows brokerages to access info for their clients on all kinds property, including houses, condos, land and investment properties for sale. If data sales data exists, it’s probably available on the MLS.
Back before the world wide web, you needed to pay realtor commission to get your property listed. Now in Palm Beach and across the nation, there brokers charging just a nominal fee to list your property on the MLS. Google “flat fee listing” to find plenty of options. There is also a plethora for “for sale by owner” websites that also let you manage your own sale. Spend a few hundred bucks, get full MLS exposure, without paying realtor fees.
Compared to the cost of a newspaper ad, the MLS is a cheap way to market your property to a very wide audience. Major home sale web pages like Zillow, Redfin, Realtor, Trulia, etc., pull sales info directly off the Multiple Listing Services. When you submit your listing in Palm Beach, your sale will appear on each of these sites in days
Zillow, Redfin, and the others, sells advertisements for your house sale. Packages let you enhance your listing, show it as the top search, and a lot of other interesting features that might draw in buyer to bid on your home.
Advertising is a bit of a financial gamble. Open houses in Palm Beach can be effective for selling property. Often they are a waste of time. Just like any form of advertisement (newspaper, craiglist, yard signs), depending on luck of the draw or the neighborhood, sometimes they work other times they don’t.
The downside of “flat fee listing” and choosing not to pay a realtor is that you don’t get a real estate agent’s helping hand. An agent can do the “hard negotiations” you may not feel comfortable with. Do you lack understanding of how to go about selling a property? If so, you may want to hand-off the job to a realtor. A realtor also can let you tap into their network of buyer agents to move your property at a high price. Real estate agents can help manage administrative burdens like sorting through offers, collecting proof of funds, getting pay-off statements from a bank, arranging walk-throughs of your house.
To sell your property on your own, marketing may help.
Hanging fliers and yard signs nearby can create some interest, and you can explore the websites that let you post your sale for free. However, sometimes this is not enough to grab the typical home buyer.
Theoretically, real estate agents such high commissions because they spend financial resources on advertising to sell property. By advertising for a high quantity of homes, a real estate agent can get more phone calls. They can also make better profits if they sell more houses (Duh!).
Real estate in some cases may need thousands in advertising expenses in order for the right buyer to find the sale, call in, and make a fair offer.
Want to skip realtor commissions? Consider selling directly to House Heroes!
You can sell a house on your own to House Heroes LLC. We guarantee fair cash offers on any property. Any condition, situation, price range. Need to close fast? That’s our specialty! As soon as searches clear, we close. We don’t rely on mortgages, so there is no lengthy delay or last minute cancellation due to a bank’s procedural “red tape”.
We buy Palm Beach houses, fix them up, then either rent or flip them. Just like HGTV! Just kidding. We love to hear from property owners that are thinking of selling in Palm Beach. Not only that, we solve home seller problems.
We purchased Lisa Rauch’s house in Pembroke Pines and she said:
“I was amazed by how quickly House Heroes responded. House Heroes was honest and fair in their treatment of me. You helped me with my move, my packing, and day-to-day questions regarding closing. Your company helped so greatly, so quickly, and treated me as more than just a dollar sign. You were a friend to me.”
We close fast for cash. Simple, easy, painless process. Give us a call now at (954) 676-1846 or fill out the form below!
We Buy Houses
Call Us (954) 676-1846 or Fill Out This Form For Your FAIR Offer.
