If you’re looking to sell your house or investment property in Memphis, Nashville, Knoxville, Chattanooga without using a real estate agent, we can help.
Although we cooperate 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. In certain situations, TN brokers and real estate agents can be beneficial and earn their commission. Not always.
How Do I Sell My House Without An Agent in Memphis, Nashville, Knoxville, Chattanooga?
In most sales in Memphis, Nashville, Knoxville, Chattanooga, roughly half of the commission you pay as the seller pays for the buyer’s broker.
It doesn’t make much sense.
Why should you pay for the agent on the other side of the table?
Truthfully, it defies logic – And just because “It’s always been done this way” doesn’t mean you should.
Here are ways to avoid paying high commissions in your TN sale.
First, factor in the commissions paid when 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 a savvy buyer may also expect to take a discount. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Memphis, Nashville, Knoxville, Chattanooga, buyers who an agent doesn’t represent won’t remember to negotiate the buyer’s side commission out of the price, 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 buyers’ agents who bring their clients to show your property. Sure, it’s a lot of money. 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 buyers in the market in Memphis, Nashville, Knoxville, Chattanooga.
Over 90% of transactions happen through the MLS – the Multiple Listing Service. It’s the central database that all the brokers in Memphis, Nashville, Knoxville, Chattanooga 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. In Memphis, Nashville, Knoxville, Chattanooga, a few brokers will charge you a fee to list your property on the MLS. (Tyler Tapley at Crye-Leike) 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 vast audience.
All the major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc., get data from the MLS. The chances are good that when you submit your listing in Memphis, Nashville, Knoxville, Chattanooga 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 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 Memphis, Nashville, Knoxville, Chattanooga TN can be a great way to sell a property, and sometimes they waste 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 are a lot of free websites where you can post information. But often, 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 big commissions because they have to spend a lot upfront on advertising 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.
Specific properties might require thousands of dollars in advertising expenses before the right buyer sees the ad and calls.
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 we can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase Memphis, Nashville, Knoxville, Chattanooga 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, and a lot of different reasons, too – but we love to hear from people like you who are thinking of selling anywhere in TN.
We’re investors who care a lot about Memphis, Nashville, Knoxville, Chattanooga.
We close fast and pay cash in as little as 3-5 days. Give us a call now at
Call or Text Us!(901) 799-3453 or fill out the short form here.