Is Selling or Buying Properties Without a Realtor Worth It?
Most of your friends or people you know have made their real estate deals with the help of a realtor or real estate agent. And they might tell you how easy it is to sell a property with a realtor. But if you are a first-time seller or buyer and trying to save cost, you can forgo a realtor. Remember that as a seller you pay the realtor of a buyer as well as your own. And a realtor might charge up to 3% of the total deal amount. That definitely makes the process of selling your property a little pricier. But if you are a buyer, you somehow can save the cost.
We buy homes in Lafayette, LA, and we know that you genuinely don't need a realtor to complete the process and transaction while selling a home.
Selling a home or a real estate property is probably one of the most significant undertaking of your life. Thus, you can't afford to make any mistake in the process. To decide whether you should go without a realtor or hire one, you need to understand what a realtor does. Because once you get a clear idea about a realtor's job, you will have a clear idea about what steps you need to handle if you are not hiring one. And we suggest you be true to yourself while making the decision.
What Does a Realtor Do?
Before you decide whether or not to forgo a realtor, it is necessary to have a good idea of what they actually do. Realtors are licensed professional to help clients in buying and selling real estate properties.
Like other professional services, a real estate agent does not bill you per hour. Instead, they get paid once actual buying and selling takes place. A realtor actively looks for properties that fit the buyer's goals, check out listings in person, write offers, be a part of the inspection process, and negotiate with the seller. They also troubleshoot if any roadblocks come up.
How We Make Real Estate Investments Without a Realtor?
By now, you know what a realtor does. And if you have committed to doing it alone, you need to know the proper steps.
If you want to start your real estate investment, start by doing a lot of research and arm yourself with as much information as you can. You also can check out various home buyers' guides and learn about the home buying process and everything you must be prepared for.
We suggest you start finding properties in your neighborhood that meet your criteria. You can also keep an eye on the properties in other locations. But always be aware of how many homes in that property have sold for recently.
When you are sure about the area you are ready to invest in, you can quickly evaluate properties and have a clear idea about your finance and other aspects. You can do your research online. Once you find a home you are interested in, we recommend hiring a home inspector to address any issues.
If your home inspector finds any issue, you must ask the seller to fix those or compensate you. You must also opt for the full loan approval in writing before you start the process of investing in a home. It is also a good idea to hire a real estate lawyer to prepare your offers to the seller and perform all the deal paperwork. This will cost you a few $100, but you will be in peace of mind that all the paperwork is done correctly.
Selling and buying homes without realtors are becoming increasingly popular. Especially the millennials are considering relying upon technology while making an expensive purchase. If you are a seller and looking for prospective home buyers, we are here. We are a team of investors, and we buy homes in Lafayette, LA. Reach out to us to make your home selling process an easy one.