If you’re looking to sell your house or investment property in Arkansas without using a real estate agent, we can help. Although we do 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, Arkansas brokers and real estate agents can be very useful and earn their commission. Not always.
Can I Sell A House Without A Realtor In Arkansas?
First, there’s a tricky custom that you’ve gotta know about. In most sales in Arkansas, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker. Doesn’t make much sense, right? Why should you pay for the agent on the other side of the table? Truthfully, it defies logic – it’s just what’s typically done. You can use that to your advantage in a few ways. First, factor in the commissions paid when you’re 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 expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money.
Sometimes in Arkansas, 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 may want to consider offering 2.5% to buyer’s agents who will 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 of the buyers in the market in Arkansas.
Over 90% of transactions happen through the MLS
That’s the Multiple Listing Service. It’s the main database that all the brokers in Arkansas 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. Now in Arkansas, there are a few brokers who will charge you a fee just to list your property on the MLS. Often, you spend a few hundred bucks and you only pay 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 very wide 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 Arkansas 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 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. This also depends on your level of expertise. If you understand marketing and have experience with it, you may be able to sell your house without a realtor. On the other hand, if you are not sure about marketing, you may want to go another route to sell your home.
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’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.
Investors like us for cash
We pay fair prices for properties – and we can close fast (in as little as two weeks if you need to). Sometimes we’ll buy AR area 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 Arkansas. We close fast and pay cash in as little as just two weeks. Give us a call now at (501) 369-0365 or fill out the short form below.