If you’re looking to sell your house or investment property fast in Grand Rapids without using a real estate agent, we can help.
Although we do frequently work with real estate agents, sometimes it’s best to avoid the traditional method to sell your house.
Paying 5-6% of the sale of a property in a commission is a lot of money. In certain situations, Michigan brokers and real estate agents can be very useful and earn their commission, but not always.
There are a few ways to avoid paying high commissions in your sale.
First, there is a process that you should be aware of.
In most sales in Grand Rapids, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker.
Sometimes that makes sense if both agents are doing a lot of work. But many times it does not seem to make sense because the selling agent puts in many more hours than the buying agent.
Some sellers wonder why they should pay for the agent on the other side of the table?
Here are a couple things that may be helpful as you go through the process:
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 will expect a discount from the original price. Assume the negotiation beforehand. If your agent is doing all the work, then the buyers agent may take a discount as part of the negotiation.
Sometimes in Grand Rapids, buyers who aren’t represented by an agent do not negotiate the buyer’s side commission. If so, then you will probably be able to work with your agent to discount their commission a bit.
Consider offering 2.5% to buyer’s agents who will bring their clients to show your property. Sure, it’s a lot of money, but it may be worth it. If you’re pricing your property including that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
On the other hand, if you don’t leave room for the buyer’s agent’s commission, you’ll be excluding most of the buyers in the market in Grand Rapids.
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all the brokers in Grand Rapids use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in Grand Rapids, 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 bucks and you only pay a commission if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a cheap 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 good that when you submit your listing in Grand Rapids to the MLS, information on your property will end up on most of the major sites within a few days.
Each of those sites sells ads. They’ve got packages that let you pay to enhance your listing, feature it at the top of the search, and 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 Grand Rapids Michigan can be a great way to sell a property, and sometimes they’re a waste of time. Same with newspaper ads, craigslist postings, 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, and there’s a lot of free websites where you can post information. But often just putting up flyers and an open house isn’t enough if your house doesn’t appeal to the average home buyer.
In theory, real estate agents charge their commissions because they have to spend a lot of money up front to advertise your property. By advertising lots of properties at once, they expect to get more phone calls – and obviously, they’ll make good profits by selling lots of houses.
Certain properties might require thousands of dollars in advertising expenses before the right buyer happens to see the ad and call.
If you want to avoid paying any commissions, you can also sell your house to investors like us
We have a team of CASH buyers and we offer fair prices for properties – and we can close fast (in as little as 3-5 days if you need to).
Sometimes we purchase Grand Rapids houses AS-IS, fix them up, then rent them out… sometimes we’ll fix them up and sell them to other people looking for great homes in the area, and a lot of other reasons, too – but we love to hear from people like you who are thinking of selling anywhere in Grand Rapids.
We’re investors who care a lot about Grand Rapids.