If you’re considering selling your house or investment property in Lehigh Valley without the assistance of a real estate agent, we are here to help you navigate that process.
While we do collaborate with brokers, there are times when it might be more beneficial to avoid paying someone just to act as an intermediary in your sale.
After all, paying a commission of 5-6% on the sale price of your property can add up to a substantial amount of money. In certain cases, brokers and real estate agents in PA can provide valuable services that justify their commission, but that isn’t always the case.
How Do I Sell My House Without An Agent in Lehigh Valley?
There are several strategies you can employ to sidestep the high commissions associated with your sale in PA.
First and foremost, it’s essential to be aware of a common practice that might surprise you.
In most real estate transactions in Lehigh Valley, about half of the commission you pay as the seller is allocated to the buyer’s broker.
This arrangement might seem illogical—after all, why should you cover the costs associated with the agent representing the other party in the transaction?
Unfortunately, this practice has become the norm in real estate, which may seem counterintuitive but is widely accepted.
Understanding this can actually work to your advantage in a few ways.
For starters, when analyzing comparable sales in your area, make sure to factor in the commissions that were paid. If similar properties in your neighborhood sold for prices that included these commissions, you should take that into account in your pricing strategy.
It’s crucial not to underprice your property, as savvy buyers might anticipate a discount due to the absence of agent fees. If you’re taking on the responsibilities of an agent yourself, it’s reasonable to expect to save some of that money.
In some instances, buyers who aren’t represented by an agent might overlook the negotiation of the buyer’s commission during discussions about price. Therefore, it’s up to you whether you choose to remind them of this fact, but if you prefer not to, it’s wise to be prepared for it to come up during negotiations.
Sometimes in Lehigh Valley, 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 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 might also consider offering a 2.5% commission to buyer’s agents who bring their clients to view your property. While this may seem like a considerable expense, if you are pricing your home to include that commission, you can always negotiate a more favorable deal for buyers who choose to come without an agent.
On the flip side, if you do not account for the buyer’s agent’s commission in your pricing, you may inadvertently exclude a significant portion of the buyer pool in Lehigh Valley.
It’s important to recognize that over 90% of real estate transactions occur through the MLS (Multiple Listing Service), which is the primary database that brokers in Lehigh Valley utilize to access information about homes, condos, land, and investment properties for sale, along with historical data on sold prices.
Historically, gaining access to the MLS required paying a full commission to get your property listed. However, in today’s market in Lehigh Valley, several brokers now offer listing services for a flat fee. Often, you can expect to pay just a few hundred dollars, with commissions owed only upon the successful closing of a sale.
This approach is far more cost-effective compared to traditional advertising methods like newspaper ads, making the MLS an affordable way to market your property to a broader audience.
Furthermore, all major real estate search engines, such as Realtor.com, Zillow, Yahoo Homes, and others, pull their data from the MLS. Thus, when you submit your property listing in Lehigh Valley to the MLS, it’s highly likely that your property will appear on most significant real estate websites within just a few days.
These sites also offer advertising packages that allow you to enhance your listing, increase its visibility, and access various promotional tools that may or may not help attract potential buyers to your property.
Advertising your property can sometimes feel like a gamble. Open houses in Lehigh Valley can be effective in generating interest, but they can also turn out to be a waste of time. The same goes for newspaper advertisements, Craigslist postings, and elaborate signage; their effectiveness can vary widely.
To successfully sell your property independently, you need to focus on effective marketing strategies
Placing flyers and signs in your neighborhood can certainly generate some interest and inquiries, and there are numerous free websites available where you can advertise your property. However, simply putting up flyers and hosting an open house may not suffice if your property doesn’t resonate with the average homebuyer.
The rationale behind real estate agents charging substantial commissions is that they often incur significant upfront costs for advertising your property. By promoting numerous properties simultaneously, they anticipate receiving more inquiries, which ideally leads to successful sales.
Certain properties may necessitate thousands of dollars in advertising expenses before the right buyer even sees the advertisement.
If you are determined to avoid any commission payments, another option is to sell your house directly to investors like us for cash.
We fair prices for properties – and we can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase Lehigh Valley 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 other reasons, too – but we love to hear from people like you who are thinking of selling anywhere in PA.
We’re investors who care a lot about Lehigh Valley.
We close fast and pay cash in as little as just 3-5 days. Give us a call now at (484) 549-0019 or fill out the short form over here.