If you’re looking to sell your house or investment property in Minneapolis without using a real estate agent, we can help. Although we do encourage working with brokers, sometimes it’s best to avoid paying someone to be in the middle. After all, paying 5-6% of the sale of a property in a commission is a lot of money. If your looking for a sale option that functions a 100% free, consider selling your home directly to FastPath Home Buyers. Here at FastPath, we buy houses in Minneapolis, and its surrounding areas. With us, you won’t have to worry about spending money hiring a real estate agent to find you buyers. We are your buyer, come directly to you. Because of this direct sale, you get a fast timeline. In addition, whenever we give you an offer, we are prepared to close on it in as little as 7 days. So Calls us at (612) 351-2384, or fill out a short form to receive an all cash offer today!
How Do I Sell My House Without An Agent in Minneapolis?
There are a few ways to avoid paying high commissions for your MN house sale. Firstly, you should learn this tricky custom:
In most home sales, roughly half of the commission you pay as the seller go to paying for the buyer’s broker.
This Doesn’t make much sense, right?
Why should you pay for someones else’s agent, even if it is your buyer?
Truthfully, it defies logic – This is just what’s typically done.
However, you can use this custom to your advantage in a few ways.
First, factor in the commissions paid when you’re looking at comparable sales around your area. If the 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 Minneapolis, 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 if you don’t intend to pay them, don’t remind them. However, you shouldn’t be surprised if it comes up during the negotiation.
You may want to consider offering 2.5% to your buyer’s agents commission. Sure, this is a lot of money, but it’s often expected. If you’re pricing your property including this 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 Minneapolis.
Using the MLS to your advantage
Over 90% of transactions happen through the MLS – this is the Multiple Listing Service. It’s the main database that all the brokers in Minneapolis use to access information for their clients on the houses, condos, land and investment properties for sale. This platform also provides sale prices and market trends, which can be very helpful tools.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in Minneapolis, this is no longer the case. There are still a few brokers who will charge you a fee just to list your property on the MLS. However, often you’ll spend a few hundred bucks to register, and then you’ll only be required to pay a commission if the sale closes.
When comparing options: compared to the cost of a newspaper ad, the MLS is a cheap way to market your property. It also markets to a wider 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 Minneapolis 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, and feature it at the top of the search. They also have many other bells and whistles that might help you get an interest buyer faster.
Advertising is a gamble. Sometimes open houses in Minneapolis MN can be a great way to sell a property. However, 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.
However, there are many other cheaper marketing methods that might work for you. Putting up fliers and signs around your neighborhood can generate some calls. In addition, there are a lot of free websites where you can post information.
In theory, 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 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 for CASH
However, if all of these other options are not working for you, try working with us. 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 Minneapolis houses, 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. However, above simply turning a profit, we love to hear from people like you who are thinking of selling anywhere in MN.