If you’re looking to sell your house or investment property in Colorado Springs without using a real estate agent, we can help.
Although we do work with brokers, there are times when it’s in your best interests to avoid the middleman (and the costs that come with it). After all, paying 5 – 6% commission on the sale of a property is a lot of money. In certain situations, brokers and real estate agents can be very useful and do earn their commission, but that’s not always the case.
There are a few ways to avoid paying high commissions in your sale.
First of all, there’s a standard practice that you need to be aware of, which is that for most sales in Colorado Springs, the commission is split between your agent and the buyer’s agent.
Doesn’t make much sense, right? Why are you, as the seller, paying any commission to the agent representing the buyer? It may not make sense to you, but it is what is typically done.
However, you can use this to your advantage.
First, factor in the commissions paid when you’re looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your property. Be aware that most buyers expect to negotiate and take a discount. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Colorado Springs, buyers who aren’t represented by an agent won’t remember to negotiate the buyer’s side commission out of the price for themselves, so don’t remind them if you don’t want to pay them. Just don’t be surprised if it comes up during the negotiation.
You may want to consider offering a 2.5% commission to the buyer’s agent who will bring their clients to your property. It’s a lot of money, but if your price includes consideration of that commission, you can always negotiate a better deal for a buyer who comes without an agent.
On the other hand, if you don’t leave room for the buyer’s agent commission, you’ll be excluding most of the buyers in town, as the agent won’t feel it’s worth his/her time to bring clients to see your house.
Over 90% of transactions happen as a result of the house being on the MLS (Multiple Listing Service), which is the main database that all brokers in Colorado Springs use to locate properties for their buyers. This database provides information on houses, condos, land and investment properties for sale, along with data on sold prices.
Once upon a time, you had to pay a full commission just to get your property on the MLS. Now, there are a few brokers who will charge you a fee just to list your property on it. Often, you can spend a few hundred dollars and you only pay commission if the sale closes.
Truthfully, the MLS is a cheap and effective way to get your property out there to a very wide audience.
All the major real estate search sites, like Realtor.com, Zillow, Trulia, etc. get data from the MLS. When you submit your listing in Colorado Springs to the MLS, information on your property will likely end up on most major sites within a few days.
Each of these sites also have packages that enable you to enhance your listing, feature it at the top of the search, and a lot of other bells and whistles that may or may not attract an interested buyer to look at your property.
It all sounds like a great way to sell your home, but advertising is a gamble. Sometimes open houses can be a great way to sell a property, but sometimes they are a total waste of time. Same with newspaper ads, Craigslist ads, fancy signs……sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you have to market it well.
Posting flyers and signs around your neighborhood can generate some calls, and there are a lot of websites on which you can post your information for free. But sometimes just putting up flyers and having an open house isn’t enough if your house doesn’t appeal to the average home buyer.
In theory, real estate agents charge commissions because they have to spend money up front to advertise your property and take their clients to see properties. By advertising lots of properties at once, they expect to get more phone calls, and can anticipate making more money because they will sell more houses.
Certain properties may require thousands of dollars in advertising expenses before the right buyer happens to see the ad and make a phone call.
If you want to avoid paying any commissions, you can also sell your house to investors like us for CASH.
We offer fair, all cash prices for properties – and we can close fast (in as little as 5 days if that is what you need).
Oftentimes, we’ll purchase Colorado Springs houses, fix them up, and then rent them. Or, we’ll fix them up and sell them to other people who are looking for great homes in the area. We love to hear from people like you who are thinking of selling your house anywhere in Colorado Springs.
We close fast and pay cash in as little as 5 days. Give us a call now, or fill out the short form here http://www.swiftresults.com/cash-offer/.