Looking to sell your home but not excited about paying a real estate agent a hefty commission?
If so, you might consider selling your home in a less traditional way – via the internet. After all, nine out of ten of shoppers look for a home online.
There are a variety of reasons why you might sell online. Maybe you are selling a less-than-desirable property that you know won’t show well, and you’d like to unload it for cash. Perhaps you just want to save some money.
Either way, there are ways to sell a home that doesn’t involve a traditional agent/seller relationship. Here are a few tips to help you sell your house online.
Market Using FSBO Sites
FSBO stands for “for sale by owner,” and, if you plan to sell online, it’s an acronym you should get familiar with.
Some FSBO sites will charge a flat fee for using their services. Some sites are free of charge. It’s certainly worth posting your home on the free sites, but it also won’t hurt to post on paid sites, too, provided you pick the right one.
To choose the best paid site for your needs, use a search engine like Google to search for terms that a buyer might use to locate a for-sale-by-owner house like yours. What FSBO sites rank the highest when you search for these terms? These are the sites you’ll want to use for your listing.
Also, keep in mind that some paid sides offer additional assistance like sale guidance or marketing materials to paying customers, so be sure you’re comparing apples to apples.
Poke around on the sites before paying to list – if it’s difficult to navigate for you, it will be difficult to navigate for your potential buyers. Opt for well-laid out and easy-to-use sites.
Find an Online Cash Buyer
Some sellers might find that the easiest, fastest, and least expensive way to sell is to find a cash buyer who will buy their home as-is.
Cash deals like this can be great if the property you are selling is in disrepair or needs extensive improvements that you can’t or don’t want to deal with. If your house is blighted and won’t show well, unloading it for cash can be the perfect option.
Some sellers just want their property off their hands as soon as possible – cash buyers can be a great option in that scenario, too. Cash deals can mean you have a closing date in as quickly as seven days.
The only potential drawback to this is that you might not get full market value. However, keep in mind that you won’t be paying anything out of pocket (marketing, fees, commissions, etc.) to sell this way. You also won’t be paying for any repairs or upgrades that traditional buyers would ask for.
Use an Online Agent
If you’d still appreciate the help of a traditional agent but balk at the thought of a 6% commission, consider using an online real estate agent.
Online agencies are often cheaper for sellers because the agents aren’t paying for a physical presence. You might pay 1 – 1.5% in commission to use a service like this.
Your property will be listed on all of the major listing sites, including the Multiple Listing Service, and you’ll also have the agent’s guidance with the legal details of the transaction.
There are a couple drawbacks to this arrangement. You won’t get the full benefits that a local agent could provide, like a solid knowledge of your neighborhood and personal showings.
Market Online Without an Agent
The key to selling online quickly is to get your house in front of as many people as possible. List your home online in as many places as you can. Think about using buy/sell groups or local neighborhood groups on Facebook, craigslist, and the MLS (you can pay a flat fee to list your house on their platform).
This option is best when used in conjunction with listing on the FSBO sites that we mentioned earlier. Make sure you have a great FSBO listing ready where you can direct all prospective buyers.
This is an inexpensive way to sell, but it will take time and effort. Remember that you’ll be doing all your own marketing, appointment setting, legal paperwork, etc. Decide if avoiding paying commission is worth the work. Also, bear in mind that if your buyer uses an agent, you’ll still need to pay commission (but it will be half of what it otherwise would have been if you’d used an agent, too).
Other Advice for Selling Online
In addition to the tips above, we also suggest splurging on staging and professional photos if possible. The buyer’s first impression is made when they first page through the listing photos, so bright, clean pictures are key.
Ensure that the ads you post online include all the requisite information that a buyer would want to cut down on unnecessary phone calls and emails. Your listing should include general information like any upgrades you’ve made, and details like a floorplan and square footage of each room.
Once you do find a buyer, it’s also wise to seek legal representation to help look over legal sale documents to ensure you’re protected in the transaction.
It’s Possible To Sell Your House Online
It’s a seller’s market out there, so, it’s certainly possible to sell your house online. It may take a bit more elbow grease to get the deal done. But you can sell your house online and do it for less. Declutter, get the best photos possible, create an all-star listing, and get selling!
Check out our other helpful real estate blog posts, too, including how to start investing in real estate, choosing the right professional movers, and smart home upgrades to help you sell.
