Selling my house without an agent in Washington DC
If you’re looking to sell your house or investment property in Washington DC without using a real estate agent, we can help.
Although we work with brokers, sometimes it’s best to avoid paying someone to be in the middle.
After all, paying 5-6% commission on the sale of a property is a lot of money. In certain situations, Washington DC brokers and real estate agents can be very useful and earn their commission, but that is not always the case..
There are a few ways to avoid paying high commissions on your Washington DC sale.
First, there’s a tricky custom that you need to know about.
In most sales in Washington DC, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker.
Doesn’t make much sense, right?
Why should your money go to the agent on the other side of the table?
Honestly, it defies logic, but it’s just what’s typically what happens.
You can use that to your advantage in a few ways.
First, think about the commissions paid when you’re looking at the comparable sales. If similar properties to yours sold for prices that included commissions, you have to take that into account.
Don’t underprice your property – be aware that a smart buyer may expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Washington DC, 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 2- 2.5% to buyer’s agents who will bring their clients to show your property. Sure, it’s a lot of money, but if you’re pricing your property to include that commission, you can always negotiate a better deal for someone who wants to buy without an agent.
On the other hand, if you don’t leave room for the commission that goes to the buyer’s agent, you’ll be excluding most of the buyers in the Washington DC market.
Selling my house without an agent in Washington DC
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all brokers in Washington DC use to access information for their clients on houses, condos, land and investment properties for sale, along with data on the price of sold properties.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now, in Washington DC, there are a few brokers who will charge you a fee just to list your property on the MLS. Often, you spend a few hundred dollars and you only have to pay a commission if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a much cheaper way to market your property to a very wide audience.
All the major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc. get data from the MLS. Chances are really good that when you submit your listing in Washington DC to the MLS, information on your property will end up on most of the major sites quickly.
Each of those sites sell ads. They’ve got packages that let you pay to strengthen your listing, feature it at the top of the search, and provide a lot of other bells and whistles that might or might not get an interested buyer to buy your property.
Advertising is a gamble. Sometimes open houses in Washington DC can be a great way to sell property, and sometimes they are just a waste of time. This can be the same with newspaper ads, Craigslist postings, or fancy signs – sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you have to market it well.
Putting up fliers and signs around your neighborhood can generate some calls, but there are also a lot of free websites where you can post information. Often just putting up flyers and having an open house isn’t enough to sell your house if it doesn’t appeal to the average home buyer.
Real estate agents charge big commissions because they have to spend a lot of money up front to advertise your property. By advertising lots of houses at once, they expect to get more phone calls – and obviously, they make good profits by selling lots of houses.
Certain properties might require thousands of dollars in advertising expenses before the right buyer happens to notice the ad and call.
If you want to avoid paying any commissions, you can also sell your house to investors like us for CASH
We give fair prices for properties – and we can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase Washington DC houses, fix them up, and rent them out… sometimes we’ll fix them up and sell them to people looking for great homes in the area, and a lot of reasons, too – but we love to hear from people like you who are thinking of selling anywhere in the Washington DC Metro area.
We are investors who care a lot about Washington DC.
Give us a call now at (877) 804-5252 or fill out the short form over here. Or fill out the form at the top right of this page.