How to Avoid Real Estate Agent Fees When Selling a Home in Greater Cleveland

When you're selling a home, the last thing you want to worry about is paying fees to a real estate agent. There are many ways to avoid these fees and still get your home sold quickly and for a good price. In this blog post, we will discuss some of the best ways to avoid real estate agent fees when selling your home.

Realtor fees and additional expenses

Realtor fees can vary greatly depending on the agent you choose to work with and the services they provide. Typically, real estate agents will charge a commission of between five and six percent of the final sale price of your home. This figure is divided among the two agents involved in the transaction: the buyer’s agent and the seller’s agent. So, if your home sells for $200,000, you can expect to pay the agent $12,000 in commissions. Luckily, there are many ways to avoid these fees.

For sale by owner

One of the best ways to avoid real estate agent fees is to sell your home yourself. This may sound like a daunting task, but with the help of some online resources and a little bit of elbow grease, you can list and sell your home without paying a commission. Note that if you choose to sell to a buyer who is represented by a realtor, you will still have to pay a commission to buyer’s agent.

The first step to selling your home by owner is to research your local real estate market and find out what comparable homes in your area are selling for (you can check out our tips for figuring out how to price your home in Greater Cleveland here). This will give you a good idea of what price range to list your home in. Once you have a price range in mind, you can begin the process of marketing your home.

There are a number of online resources that can help you market your home to potential buyers. For example, you can list your home on websites like Zillow or Trulia. You can create listings on Craigslist. You can also create a website for your home and share it on social media platforms like Facebook or Twitter, or post of Facebook Marketplace directly (though you cannot sell commercial real estate on Facebook marketplace).

One of the best perks of living in the Greater Cleveland area is the neighborliness. Many cities and neighborhoods have their own Facebook groups for local news, advertisements, etc. that get a lot of engagement from neighbors. These are great places to post your property and get the word out. You can even offer a referral fee. Of course, check the group rules before posting as some neighborhood groups prohibit such posts and don’t post too frequently.

Once you have found a buyer for your home, you will need to negotiate a sales contract. This is where an experienced real estate attorney can be helpful. They can review the sales contract and make sure that it is fair and in your best interests.

After the sales contract has been signed, your buyer will need to schedule a home inspection and appraisal. Once these steps have been completed, you will be ready to close on the sale of your home.

Sell your home to a cash buyer

Another way to avoid real estate agent fees is to sell your home to a cash buyer in Great Cleveland. You can find a local buyer, like LP Property Group,  through a simple Google search.  This is a great option if you need to sell your home quickly and don't have the time or resources to list it yourself.

When you sell your home to a cash buyer, you will not have to pay any real estate agent commissions. You will also not have to pay for things like home staging or repairs. This can save you a considerable amount of money.

A discount real estate broker

If you're not interested in selling your home yourself or working with a cash buyer, another option is to use a discount real estate broker. These brokers typically charge a flat fee instead of a commission. This can save you money on commissions, but it is important to research the broker before you sign any contracts.

Make sure to ask the broker how they will market your home and what services they include in their flat fee. You should also make sure to ask for references from past clients.

Conclusion

Selling a home can be a costly endeavor, but there are ways to avoid real estate agent fees. By selling your home yourself, selling to an investor, or working with a discount real estate broker, you can save yourself thousands of dollars in commissions.

If you are considering selling your home, be sure to research all of your options and choose the one that is best for you.

Disclaimer: The above is solely intended for informational purposes and in no way constitutes legal advice or specific recommendations.