If you’re looking to sell your house or investment property in New Orleans without using a real estate agent, we can help.
While we collaborate with brokers, sometimes it’s better to avoid paying someone to facilitate the process. After all, a commission of 5-6% on the sale of a property can be pretty substantial. In certain situations, brokers and real estate agents can provide valuable assistance and justify their commission. However, this is not always the case.
After all, paying 5-6% of the sale of a property in a commission is a lot of money. In certain situations, LA brokers and real estate agents can be beneficial and earn their commission. Not always.
Selling a House Without An Agent in LA.
There are a few ways to avoid paying high commissions in your LA sale.
First, there’s a tricky custom that you’ve gotta know about.
In most sales in New Orleans, 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 you pay for the agent on the other side of the table?
Truthfully, it defies logic – it’s just what’s typically done.
You can use that to your advantage in a few ways.
First, factor in the commissions paid when you examine comparable sales. If properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your property – Be aware that a savvy 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 New Orleans, buyers not represented by an agent will forget 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 2.5% to buyer’s agents who bring their clients to show your property. Sure, it’s a lot of money. If you price 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 exclude most of the buyers in New Orleans.
Over 90% of transactions happen through the MLS—the Multiple Listing Service. It’s the main database that all the brokers in New Orleans use to access information on houses, condos, land, and investment properties for sale and data on sold prices.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now, in New Orleans, a few brokers 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.
The MLS is a cheap way to market your property to a vast audience compared to the cost of a newspaper ad.
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 New Orleans 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 many 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 New Orleans LA 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.
Posting fliers and signs in your neighborhood can generate some inquiries, and there are many free websites where you can share information.
However, simply putting up flyers and hosting an open house may not be sufficient if your home doesn’t attract the average buyer.
In theory, real estate agents charge high commissions because they need to invest a significant amount of money upfront to advertise your property. By promoting multiple properties simultaneously, they anticipate receiving more inquiries, which will allow them to generate profits by selling a larger number of houses.
Some properties may incur significant advertising costs before a suitable buyer sees the ad and reaches out.
If you want to avoid paying any commissions, you can also sell your house to investors like us for CASH.
We offer fair prices for properties and can close quickly, often in as little as 7 days.
Sometimes, we purchase New Orleans houses, fix them up, and rent them out. Sometimes, we fix them up and sell them to other people looking for great homes in the area. There are a lot of other reasons, too, but we love to hear from people like you who are thinking of selling anywhere in LA.
We close fast and pay cash in as little as just 7 days. Give us a call now at 504-655-6063 or fill out the short form >here<.
