If you are looking to sell your house or investment property in Philadelphia without using a real estate agent, we can definitely help.
Although we do work with real estate agents, sometimes it's best to avoid paying someone to be in the middle.
Using a real estate agent to sell your home means that you would have to pay a 5-6% commission on the sale of your property. Pennsylvania real estate agents and brokers can be very helpful in many instances, but not always.
There are a few ways you can avoid paying high commissions on your Pennsylvania sale.
First, you need to understand how commissions work. In Pennsylvania, almost half of the commission you pay as the seller goes to pay for the buyer's real estate agent.
I know it might not make a whole lot of sense. The seller has to pay for buyer's agent.
The good news is that you can use this to your advantage in a few ways.
Factor in the commissions paid when you are looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don't under-price your property. You need to understand that a savvy buyer may expect to take a discount too. If you're doing the work instead of an agent, you can expect to save that money.
Sometimes in Philadelphia, buyers who aren't represented by an agent won't remember 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. This may come up during the negotiation, so don't be surprised.
Consider offering a 2.5% commission to buyer's agents who will bring their clients to show your property. This may seem like a significant amount of money. However, if you're pricing your property including that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
Most buyers will have an agent. So, if you don't leave room for the buyer's agent's commission, you'll be excluding most of the buyers in the Philadelphia market.
Over 90% of transactions happen through the Multiple Listing Service (MLS). It is the main database that all brokers in Philadelphia use to access the information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
There are few brokers in Philadelphia that will charge you a fee to list your property on the MLS. In the past, you had to pay a full commission to get your property listed. So, things are much better now.
Listing on the MLS is much cheaper when you compare it to other forms of advertising like newspaper ads.
All of the major real estate sites like Zillow, Trulia, Realtor.com, HomeSnap, etc. get data from the MLS. Chances are that when you submit your listing in Philadelphia to the MLS, information on your property will end up on most of the major sites in a few days.
If you want to enhance your listing on any of those sites, you can pay for an ad. This will allow you to feature your property at the top of the search. In addition, there are a lot of other features that you can add that may or may not get a buyer interested in your property.
Advertising is a gamble. There is not on sure fire method that will get your property to sell. Sometimes open houses in Philadelphia can be a great way to sell a property, and sometimes they are a waste of time. The same can be said about newspaper ads, Craigslist postings, and other advertisements. Sometimes they work, and sometimes they don't.
To effectively sell your property on your own, you have to market it well.
You can generate some interest by putting up fliers and signs around your neighborhood. There are also a number of free sites where you can post information. Unfortunately, fliers and open houses aren't enough if your house doesn't appeal to the average home buyer.
Real estate agents spend a lot of time and money up front to advertise properties. That is why they charge big commissions. By advertising lots of properties at once, they expect to get more phone calls. They hope that this results in making good profits by selling lots of houses.
If you want to avoid paying any commissions, you can sell you house to investors like us for CASH.
We offer fair prices for properties. We can close fast (in as little as 3-5 days if you need to).
Sometimes we'll purchase Philadelphia houses, rehab them and rent them out. Sometimes we'll fix them up and sell them to other people looking to rent great homes in the area. We love to hear from people like you that who are thinking of selling anywhere in the Philadelphia area.
We are investors that care a lot about Philadelphia.
We close fast and pay cash in as little as just 3-5 days. Give us a call now at (267) 223-7891 or fill out the short form over here.
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