If you’re considering selling your house or investment property in Connecticut without using a real estate agent, we are here to help.
Although we do cooperate with brokers, sometimes it’s best to avoid paying someone to be in the middle.
Paying a 5-6% commission on the property’s sale can be a significant amount of money, which you don’t want to have to give away.
While brokers and real estate agents in [market state] can provide valuable services and earn their commission in certain situations, it’s not always necessary or cost-effective to involve them. We offer an alternative solution that allows you to sell your property directly and save on unnecessary expenses.
How Do I Sell My House Without An Agent in Connecticut?
Avoiding high commissions in your [market state] sale is possible through a few strategies that can save you money. Understanding the customary practice in real estate transactions is essential to navigate this process effectively.
Typically, in Connecticut, around half of the commission, you pay as the seller is allocated to the buyer’s broker. While this may seem counterintuitive, it has become the norm in the industry.
Doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
It defies all logic it’s just what’s always done and they don’t have any plans of changing that any time soon.
But, you can use that to your advantage in a few ways.
Firstly, when looking at other sales, consider the prices that include commissions. By factoring in the commissions paid in those transactions, you gain a more accurate understanding of the market value of properties similar to yours. This enables you to price your home appropriately and competitively.
Don’t underprice your property when selling your property in Connecticut, it’s important not to undervalue it, as savvy buyers may anticipate a discount. By taking on the responsibilities of an agent, you can expect to save the money typically allocated to their commission.
In some cases, buyers in Connecticut who are not represented by an agent might overlook negotiating the buyer’s side commission. If you prefer not to pay this commission, there’s no need to remind them. However, be prepared for the possibility of it arising during the negotiation process.
Consider maybe offering a commission of 2.5% to buyer’s agents who bring clients to view your property. While it may seem like a lot of money, pricing your property with this commission included allows room for negotiating a better deal with buyers who don’t have an agent.
On the other hand, if you don’t account for the buyer’s agent commission, you may accidentally exclude a large portion of potential buyers in the Connecticut market. Finding a balance that works for both you and potential buyers can help maximize your chances of a successful sale.
Over 90% of transactions happen through the MLS – The Multiple Listing Service (MLS) is the primary database used by brokers to access all the information about houses, condos, land, and investment properties available for sale, as well as data on sold prices.
Traditionally, getting access to the MLS required paying a full commission. However, in Connecticut, there are brokers who offer the option to list your property on the MLS for a small fee. This cost-effective approach allows you to market your property to a wide audience without incurring significant expenses.
Listing your property on the MLS ensures its visibility on major real estates search sites such as Realtor.com, Zillow, Redfin, and more. When you submit your listing in Connecticut, the information is published across these platforms within a few days. Considering that these sites generate revenue through advertising.
Agents can pay thousands of dollars to connect with buyers. They offer various packages to enhance your listing, such as featuring it at the top of search results and providing additional promotional options to attract potential buyers.
By leveraging the MLS and its associated real estate search sites, you can effectively showcase your property to a large audience, increasing the likelihood of finding an interested buyer.
Advertising is a gamble. Sometimes open houses in Connecticut 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.
While posting fliers and signs in your neighborhood and using free online platforms can generate some interest, these methods alone may not be enough, especially if your house doesn’t appeal to the average home buyer.
Real estate agents typically charge huge commissions because they invest a significant amount of money upfront in advertising your property. By marketing multiple properties simultaneously, they aim to attract a higher volume of phone calls, ultimately maximizing their profits through lots of successful sales.
For certain properties, extensive advertising expenses, amounting to thousands of dollars, may be required before the right buyer stumbles along the advertisement and reaches out to inquire about the property.
If you want to avoid paying any commissions, you can also sell your house 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). That is much faster than the average 30 -60 days that a house can sit on the MLS.
Sometimes we’ll purchase Connecticut 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 New England.
We’re investors who care a lot about Connecticut and want to make it a better place for everyone to live in.