If you’re looking to sell your house or investment property in North Little Rock without using a real estate agent, we can help.
Even though we cooperate with real estate brokers, oftentimes it’s best to avoid paying a middle-man.
After all, paying a 5-6% commission is a lot of money. But in some situations, Arkansas brokers and real estate agents are very useful and earn their commission.
There are a few methods to avoid paying high commissions in the Arkansas market.
First, there’s a little known fact that you have to know about.
In most real estate transactions in North Little Rock, about half of the commission you pay as the seller goes to pay for the buyer’s broker.
Just doesn’t seem right, does it?
Why should you pay for the agent on the other side of the table?
Actually, it defies logic – but it’s the way its done.
However, you can use that to your advantage in a few ways.
First, consider the commissions paid as you look at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your house – understand that a smart buyer may also expect to take a discount. If you’re doing the work of an agent, you can expect to save that money.
Sometimes in North Little Rock, buyers who aren’t represented by an agent will fail 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 think about offering 2.5% to a buyer’s agents who will bring their clients to see your property. Sure, it’s a lot of money but if you’re pricing your property including that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
However, 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 North Little Rock.
Over 90% of real estate transactions occur through the MLS – the Multiple Listing Service. It’s the main database that all the agents in North Little Rock use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
All the major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc. get data from the MLS. Chances are good that when your agent submits your listing in North Little Rock 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 North Little Rock Arkansas can be a great way to sell 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 yourself, 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 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 your wanting 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 North Little Rock 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 Arkansas.
We’re investors who care a lot about North Little Rock.
We close fast and pay cash in as little as just 3-5 days. Give us a call now at 501-575-1702 or fill out the short form over here.