If you’re looking to sell your house or investment property in Middle Tennessee without using a real estate agent, we can help.
Navigating the real estate market in Tennessee and wanting to sell your property without involving a Realtor? This guide is tailored to assist homeowners and investors, especially those who might be tired landlords, facing foreclosure, inherited properties, dealing with vacant properties, or simply needing a quick sale.
Real estate agents undeniably offer value, but 5-6% commission can be a hefty sum. In some situations, while agents prove beneficial and justify their commission, that is only the case sometimes.
Ways to Save on Commissions in Middle Tennessee?
Most homeowners need to be aware that nearly half the commission they pay caters to the buyer’s agent. Puzzling? Absolutely. But it’s the prevailing custom. Here’s how to leverage this system:
Evaluate Comparable Sales: – Before pricing your property, examine the sale prices of similar properties. Remember, those prices likely include commissions. Factor this into your pricing strategy.
Negotiation Dynamics: – If you’re shouldering the tasks an agent typically would, it’s fair to consider that when setting your price. Understand that informed buyers might expect a discount, given the absence of agent commissions.
Buyer’s Agent Commission: Consider allocating 2.5% for buyer’s agents who present your property to their clients. If a buyer doesn’t have an agent, you have more room for negotiation. But omitting this commission entirely might alienate a significant segment of potential buyers.
Over 90% of real estate transactions utilize the Multiple Listing Service (MLS), the principal database housing property details, including listings and final sale prices. Previously, MLS was only accessible via a full commission payment. However, several Tennessee brokers today offer an MLS listing for a nominal fee.
Once your property hits the MLS, expect it to feature on prime real estate platforms like Realtor.com, Zillow, and Yahoo Homes within days. While these platforms offer promotional services for a fee, remember, advertising is unpredictable. From open houses to newspaper advertisements, their efficacy varies.
Effective Marketing is the Key
If you’re going the ‘For Sale by Owner route, your marketing strategy is crucial:
- Distribute flyers and strategically place signs in high-visibility areas.
- Utilize free online platforms for listing.
- Remember, while generic marketing strategies like open houses can be effective, they may not resonate if your property isn’t appealing to the average buyer.
Contrarily, real estate agents pool resources to advertise multiple properties, hoping for higher call volumes. To reach their potential buyer, some properties might need substantial advertising investments.
Alternative: Selling to Real Estate Investors
For homeowners seeking to sidestep commissions entirely, selling to investors for a cash offer is a viable alternative. As committed investors, we offer competitive prices for properties, with the capability to close deals swiftly – sometimes in as few as 14 days. Ask us about the creative ways we purchase properties if you don’t have much equity or even upside on the house. ‘Upside Down’ means you owe more money than your property is worth. We have solutions for that if you find yourself in that situation.
Whether the property requires renovation or rental conversions or if it’s sold to prospective homeowners, we have diverse strategies to utilize properties. We are passionate about Tennessee’s real estate landscape and are always eager to connect with sellers nationwide.
We’re investors who care a lot about Middle Tennessee.
In conclusion, Tennessee’s real estate landscape offers multiple avenues for sellers, especially those keen on bypassing traditional channels. With the right strategies and insights, homeowners can secure lucrative deals without intermediaries.
We close fast and pay cash in as little as just 14 days. Give us a call now at 615.392.1186 or fill out the short form over here.