HomeLight Blog

7 of the Top We Buy Houses for Cash Companies in Denver

Lori Lovely — Fri, 02 Jun 2023 11:00:33 +0000

We Buy Houses companies in Denver make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Perhaps you need a fast home sale to start a new job right away. Or maybe you’re facing a financial hourglass and need to move to a more affordable location. Or maybe you need to cash out an inherited property to settle an estate — you may be in a hurry to sell.

If you need to sell your Denver home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Denver house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

7 of the Top We Buy Houses for Cash Companies in Jacksonville, Florida

Hayley Abernathy — Fri, 02 Jun 2023 11:00:24 +0000

We Buy Houses companies in Jacksonville make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Perhaps you’re simply ready to escape Jacksonville’s millions of tourists, or you find yourself needing to move fast to start your dream job in Atlanta. Maybe you need a no-hassle sale of an inherited home in sore need of repairs, or you need cash urgently for unexpected medical bills. Whatever the reason, selling fast and easily can be top priority for many sellers.

If you need to sell your Jacksonville home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Jacksonville house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

What’s the Average Washington Real Estate Commission Rate?

Emma Woodward — Wed, 31 May 2023 18:56:40 +0000

Most real estate agents in Washington get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Washington?

In this post, we’ll help you determine how much commission you might pay on your Washington home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Washington?

According to top-performing Tacoma real estate agent Kris Shook, you can expect to pay between 5%-6% in agent commissions when selling a home in Washington, with some variation based on location within the state. On a property worth the current statewide median home sale price of $535,000, that amounts to $26,750–$32,100 in commission costs.

“I’m used to getting 2.5% to 3%. That’s kind of the common commission that we get as the buyer’s agent: 2.5% to 3%,” says Shook, who works with 77% more single-family homes than the average Tacoma agent. The seller’s agent typically takes another 2.5% to 3% commission, he adds, which makes up the estimate of 5%-6%.

Using an overall statewide average of 5.5%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six of the largest cities in Washington:

Washington city	Median home price	Typical commission at 5.5%
Seattle	$825,091	$45,380
Spokane	$407,190	$22,395
Tacoma	$460,804	$25,344
Vancouver	$484,567	$26,651
Bellevue	$1,359,810	$74,790
Kent	$611,181	$33,615

Median home prices calculated from multiple public sales data sources

HomeLight gathers agent commission data from cities throughout the U.S. To see if we have commission rates for your city, try our Agent Commissions Calculator. You might also be interested in our Home Value Estimator.

Still curious about commission rates in Washington? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

Shook explains, “It’s common that the seller pays it. That is not necessarily how it always goes, but I would say about 99.9 percent of the time that is how it is handled.”

He says that sometimes the buyer may pay the fee for the buyer’s agent if the seller will not pay it. Shook says that doesn’t happen in the current market, but it has before. “[In the past] builders, especially the big national builders, started taking away what the commission would be to that buyer’s agent. So, for example, in the listing in the MLS, it’s going to say how much of a commission is being given to the agent who brings the buyer and — at one point — some of the big national builders we’re paying zero to the buyer’s agent.”

What’s the Average Massachusetts Real Estate Commission Rate?

Courtney DuChene — Wed, 31 May 2023 18:52:51 +0000

Most real estate agents in Massachusetts get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Massachusetts?

In this post, we’ll help you determine how much commission you might pay on your Massachusetts home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Massachusetts?

According to top-performing real estate agent Jefri Liriano of Lawrence, you can expect to pay between 5%-6% in agent commissions when selling a home in Massachusetts, with some variation based on location within the state and the broker you use. “Commissions will vary depending on the agents and how they run their business,” Liriano says.

On a Massachusetts property worth the current statewide median home sale price of $499,000, that amounts to $24,950–$29,940 in commission costs.

Using an overall statewide average of 5.5%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six of the largest cities in Massachusetts:

Massachusetts city	Median home price	Typical commission at 5.5%
Boston	$767,500	$42,212
Worcester	$285,000	$15,675
Springfield	$184,500	$10,147
Cambridge	$1,800,000	$99,000
Lowell	$335,000	$18,425
Brockton	$405,000	$22,275

Median home price source: Boston Magazine and HomeLight’s Housing Trend Reports

Still curious about commission rates in Massachusetts? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent. Sellers often decide how much they are willing to pay the buyer’s agent, and the listing agent will include that information in the multiple listing service (MLS). We’ll review how commission splits work in Massachusetts in the next section.

What’s the Average Oklahoma Real Estate Commission Rate?

Max Efrein — Wed, 31 May 2023 18:48:34 +0000

Most real estate agents in Oklahoma get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Oklahoma?

In this post, we’ll help you determine how much commission you might pay on your Oklahoma home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Oklahoma?

According to Tammy Rice, an Oklahoma real estate agent who sells homes 60% quicker than the average Sand Springs agent, you can expect to pay about 5%-6% in agent commissions when selling a home in Oklahoma, with some variation based on location within the state. On a property worth the current statewide median home sale price of $250,000, that amounts to $12,500–$15,000 in commission costs.

Using an overall statewide average of 5.5%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six of the largest cities in Oklahoma:

Oklahoma city	Median home price	Typical commission at 5.5%
Oklahoma City	$254,651	$14,006
Tulsa	$222,547	$12,240
Norman	$255,956	$14,078
Broken Arrow	$285,814	$15,720
Edmond	$362,179	$19,920
Moore	$213,542	$11,745

Median home prices calculated from multiple public sales data sources.

Still curious about commission rates in Oklahoma? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

There are rare occasions when a buyer will offer to cover the Realtor fees to sweeten the deal for the seller, but it’s highly unusual.

“We’re not seeing that here in Oklahoma,” explains Rice. “The seller is still covering all that.”

How to Sell a House By Owner in Missouri

Eileen Wubbe — Wed, 31 May 2023 18:45:01 +0000

When the time comes to move, some tenacious homeowners in Missouri are eager to take over the reins of their home sale and figure out how to sell a house by owner.

With millions of homes sold each year, a modest portion of sellers — about 7% in 2021 and 10% in 2022 — choose to list “For Sale By Owner” (or FSBO — pronounced fizz-bow). Of those, 50% already knew the buyer of the home, according to data from the National Association of Realtors (NAR).

In this guide to selling FSBO in Missouri, we’ll cover what can be the most difficult aspects of selling by owner in the Show Me State, including the steps that might be harder than you think. We’ll also provide a comprehensive overview of the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals in your Missouri market who can help you command top dollar and provide a low-stress selling experience.

How does selling by owner (FSBO) work in Missouri?

Disclaimer: This blog post is intended for educational purposes only. HomeLight recommends that you look into the real estate regulations for your area and consult a trusted advisor.

FSBO is a method of selling your home without the involvement of a listing agent. In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent, such as pricing the home, marketing it to potential buyers, arranging showings, and negotiating the deal.

In an agent-assisted sale, the seller typically pays a commission amounting to around 6% of the sale price, which is then most often split 50/50 with the buyer’s agent. That 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can eliminate the cost of the listing agent’s commission (so around 3%), though they may still need to offer a buyer’s agent commission.

Buyers’ agents will expect compensation for the work they do to bring a buyer to a sale, such as arranging showings and helping to tee up and qualify the buyer. Plus, when a seller isn’t working with an agent, the buyer’s agent may end up carrying more of the weight to get the deal to the finish line.

Next: Consult our guide on who pays closing costs when selling a house by owner for more details.

Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. In Missouri, sellers are not required to hire a real estate attorney, but FSBO sales typically warrant legal and professional oversight of some kind to avoid an abundance of legal risk.

Most people who sell by owner will need to hire an attorney to review and prepare key documents and make sure paperwork is filled out properly, such as the seller’s disclosures. We’ll address what disclosures are required when selling a house in Missouri later in this post.

How to Sell a House By Owner in Maryland

Melissa Holtje — Wed, 31 May 2023 11:00:57 +0000

When the time comes to move, some tenacious homeowners in Maryland are eager to take over the reins of their home sale and figure out how to sell a house by owner.

In this guide to selling FSBO in Maryland, we’ll cover what can be the most difficult aspects of selling by owner in the Free State, including the steps that might be harder than you think. We’ll also provide a comprehensive overview of the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals in your Maryland market who can help you command top dollar and provide a low-stress selling experience.

How does selling by owner (FSBO) work in Maryland?

Disclaimer: This blog post is intended for educational purposes only. HomeLight recommends that you look into the real estate regulations for your area and consult a trusted advisor.

In an agent-assisted sale, the seller typically pays a commission amounting to around 5% to 6% of the sale price, which is then most often split 50/50 with the buyer’s agent. That 5% to 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can eliminate the cost of the listing agent’s commission (so around 2.5% to 3%), though they may still need to offer a buyer’s agent commission.

Next: Consult our guide on who pays closing costs when selling a house by owner for more details.

Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. In Maryland, sellers are not required to hire a real estate attorney, but FSBO sales typically warrant legal and professional oversight of some kind to avoid an abundance of legal risk.

Don’t Fix These 7 Things When Selling Your House

Dena Landon — Wed, 31 May 2023 11:00:49 +0000

Accepted real estate wisdom says that houses in good condition bring in a higher price than houses in not-so-great condition. While that is generally true, it’s possible to “over-improve” a home to the point of losing money if the return doesn’t match the investment.

Luke Rentz is a top agent on the Rentz Team in Tulsa, Oklahoma, which sells homes 72% quicker than average agents in the market. He recommends that sellers contact an experienced agent in their area before making any repairs. “A local agent will be much more familiar with popular trends and different things that are going in to get you the most bang for your buck,” he says.

Knowing what to fix — and what not to fix when selling a home — can be tricky. That’s why we compiled a do-not-fix list and threw in some advice to help you determine which fixes are worthwhile — and which are a waste of time, money, and effort.

How to decide what not to fix when selling a house

Before getting to the list, let’s look at three initial steps to help determine how to approach repairs as you make plans to list your home.

Step 1: Consult with a top local agent before you fix anything

Ask a top local agent what — if anything —should be fixed or upgraded. They’ll know where you can make money on necessary repairs and upgrades and where to save money by leaving some projects undone.

Aim for something between “as is” and turnkey. You want to do just enough to attract buyers, but you don’t want to pour a lot of unnecessary cash into repairs and upgrades that won’t help your home sell for more, or could inadvertently discount its value.

Rentz points out that bad repairs, or updates that don’t fit the current market, can cost you double, “You spent that money, but someone else is pre-discounting the property to fix that repair or update you did.”

Because they know the neighborhood, as well as what the market is doing, real estate agents can provide sound insight into what work has a good return on investment and what work could be just a waste of time. A great place to start is Homelight’s annual Top Agent Insights, a survey of agent insights into the current market.

“The first thing I say to my sellers is, ‘Please don’t do anything to your house until I see it.’ That’s because a lot of sellers overspend on fixing and upgrading things that don’t make a difference to the home’s value,” says Carmen Bean, a top-selling agent in San Antonio, Texas, who works with over 72% more single-family homes than the average agent in her market.

In many cases, Bean will advise sellers to wait for the home inspection report and the buyer’s requests. Then you’ll know where you need to spend money. That way, you don’t “waste” money on cosmetic changes that may be needed to fix issues discovered by an inspection.

How to Sell a House By Owner in Mississippi

Amna Shamim — Wed, 31 May 2023 11:00:46 +0000

When the time comes to move, some tenacious homeowners in Mississippi are eager to take over the reins of their home sale and figure out how to sell a house by owner.

In this guide to selling FSBO in Mississippi, we’ll cover what can be the most difficult aspects of selling by owner in the Magnolia State, including the steps that might be harder than you think. We’ll also provide a comprehensive overview of the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals in your Mississippi market who can help you command top dollar and provide a low-stress selling experience.

How does selling by owner (FSBO) work in Mississippi?

Disclaimer: This blog post is intended for educational purposes only. HomeLight recommends that you look into the real estate regulations for your area and consult a trusted advisor.

Next: Consult our guide on who pays closing costs when selling a house by owner for more details.

Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. In Mississippi, sellers are required to hire a real estate attorney, and FSBO sales typically warrant legal and professional oversight of some kind to avoid an abundance of legal risk.

All house sales require marketing. When working with a listing agent, they’ll handle this part. With the FSBO route, it’ll be on the homeowner. This includes finding a way to get the home listed on the MLS (multiple listing service), any social media advertising, and even the “for sale” signs for your home, all of which have specific rules and best practices. In Mississippi, even yard signs have specific rules you must follow or risk a fine.

How to Sell a House by Owner in California

McCoy Worthington — Wed, 31 May 2023 11:00:32 +0000

When the time comes to move, some tenacious homeowners are eager to take over the reins of their home sale and figure out how to sell a house by owner in California.

In this guide to selling FSBO in California, we’ll cover what can be the most difficult aspects of selling by owner in The Golden State, including the steps that might be harder than you think. We’ll also provide a comprehensive overview of the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals in your California market who can help you command top dollar and provide a low-stress selling experience.

How does selling by owner (FSBO) work in California?

Disclaimer: This blog post is intended for educational purposes only. HomeLight recommends that you look into the real estate regulations for your area and consult a trusted advisor.

Next: Consult our guide on who pays closing costs when selling a house by owner for more details.

Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. California is the most heavily regulated state in the country, and real estate transactions for properties located in California tend to be more complex compared to some other states. The California Association of Realtors (CAR) lists no fewer than 10 disclosure forms required for nearly all residential real estate transactions, with dozens of additional stipulations and advisories for buyers and sellers to know about. (We’ll address disclosures later in this post.)

For these reasons, most people who sell by owner in California will need to hire an attorney to review and prepare key documents and make sure paperwork is filled out properly.

Can You Sell a House With a Mortgage?

Evelyn Waugh — Wed, 31 May 2023 11:00:07 +0000

If you currently owe money on your home loan and are ready to move, you may be grappling with whether you can sell a house before paying it off. What happens when you sell a house with a mortgage? Do you need to pay your home off before you sell?

To cut right to the chase: You can absolutely sell a house with a mortgage. In fact, it happens all the time. Most mortgages come with 15- or 30-year terms, while the average time people lived in their homes before selling in 2022 was 10 years, according to data from the National Association of Realtors.

“Here’s the big thing to understand: Most people have mortgages on their home,” says Kevin Bartlett, a top real estate agent in Southwest Florida who sells homes 49% quicker than other agents in his market. “And since the average person stays in their home for less than ten years, it’s extremely common to sell a home with a mortgage.”

So thankfully, you are not stuck in a home until you pay off every last dollar. Read on for what you need to know about what happens when you sell a mortgage, plus insights on how to gauge the right time to sell and set the right asking price when you still owe on the home.

Can You Sell A House With A Mortgage?

You can absolutely sell your home if you have a mortgage. Much of the process of selling a home with a mortgage is the same as selling a home you owe free and clear. The key difference is that the money you still owe your mortgage lender will come out of your sale proceeds.

Here’s an overview of what the process looks like:

You’ll use the proceeds from the sale of your home to pay off your existing mortgage balance. Your lender will receive their payout at the time of closing.
After satisfying the mortgage debt and covering the fees associated with selling a house, such as commissions and taxes, you will (hopefully!) have some profits to take home.
If the amount received from the sale falls short of your outstanding mortgage balance and selling costs, you will have to cover the difference with funds other than those from the sale.
Even in today’s slowing housing market, property values remain moderately high from the pandemic homebuying boom. Therefore, it’s uncommon for sellers to owe more than their home is worth, a situation known as being “underwater.”
A mortgage is more likely to become underwater if a seller falls behind on mortgage payments, sells before they’ve gained much equity, or sells during a market downturn.

Ultimately, when it’s time to sell a home with a mortgage, the path isn’t one size fits all. You’ll need to evaluate how much equity you have in your home and your reasons for selling. Follow the steps below for an in-depth explanation of the mortgaged home sale process.

DISCLAIMER: This post is meant to be educational and should not be construed as financial or legal advice. If you need help navigating the decision to sell a house with a mortgage, HomeLight encourages you to reach out to a professional advisor.

1. Check your home value

Before you list, start by getting an idea of how much your home is worth. For a ballpark figure, you can use a free online home value estimator.

How to Market Your House for Sale in 2023

Adrian E. Hirsch — Tue, 30 May 2023 11:00:33 +0000

What a difference a year makes! This is not your neighbor’s 2022 housing market.

Gone are historically low mortgage interest rates and boisterous bidding wars flush with all-cash offers and no concessions that defined the pandemic market for two years.

These days, the market is quietly regaining a sense of balance with higher interest rates and lower inventory.

So, if you’re selling a home in 2023, you’ll need a new strategy to get the most equity out of your most valuable asset.

Fortunately, you don’t have to navigate the changing market alone. We’ve surveyed HomeLight’s top-performing agents nationwide and harnessed their collective expertise to create a guide on how to market your house for sale.

When you hire the right Realtor®, that professional will collaborate with you to develop a data-driven, marketing plan that appeals specifically to buyers in your area.

Whether you’re partnering with a top agent or selling a house by owner, these are the marketing priorities you’ll need to consider to market your house in 2023.

Understand the market

When it comes to market trends, mortgage interest rates are the elephant in the room. After two years of historically low rates, the Federal Reserve raised mortgage interest rates seven times in 2022 to combat inflation.

Today’s 6%-7% rate on a 30-year fixed mortgage pales in comparison to the 18.45% Americans paid in 1981. Still, high mortgage rates, inflation, home prices, and competition for properties have prompted many buyers to put their home search on hold.

According to HomeLight’s research, the market started showing signs of leveling off beginning in the summer of 2022.

In HomeLight’s Top Agent Insights for New Year 2023, 45% of top agents surveyed predicted the emergence of a balanced market in their area. While 34% anticipate a buyer’s market, only 12% expect to see a strong seller’s market.

As we continue in 2023, agents anticipate sellers can expect to enter a market with:

A steady increase in inventory
Open houses becoming less crowded
Homes spending more days on market
Fewer homes receiving multiple bids
Home prices rising at a slower pace
Price reductions to be more common
Prices to remain flat or fall
The return of contingencies as buyers refuse to waive them
An increasing number of buyers pushing back on inspection items
More requests for sellers to contribute to closing costs
The possibility of revisiting offers they previously declined

Optimize opportunities

Despite the changing market, Suzanne Macnab, a coastal Maryland agent with 39 years of experience, says 2023 is a good time to sell a home.

“While houses are sitting on the market a little longer,” she says, “prices have stabilized and inventory is low.”

Some agents expect inventory to remain low because pandemic purchasers who financed at historically low rates will likely hold on to that property. Those homebuyers may not be able to afford to purchase an equivalent or upper-echelon property because of increasing rates and home prices.

In addition, investors and sellers with the luxury of timing the market cashed out when rates were low and demand was high.

Since the field is less crowded, your home has space to shine and capture the attention of the right buyers.

Macnab says the market is optimal for sellers who are looking to downsize — especially those with enough equity to pay cash for their next home.

Because fewer homes are available, she says the market also favors sellers who have a well-maintained home with an open floor plan that is appropriately priced.

And, while there might be fewer buyers, they may be highly motivated. In HomeLight’s Insights Fall 2022, 32% of surveyed agents believe first-time buyers will find paying today’s higher mortgage rates preferable to spending more on rising rent, which has shot up 18% on average over the past five years.

Fees and Costs Associated With Selling a House in 2023

Garrett Callahan — Tue, 30 May 2023 11:00:28 +0000

Money is always top of mind when selling a house. But in focusing on the equity portion, people are often surprised to learn how much it costs to sell a house in the U.S.

“Depending on the price range of the home, I tell my clients that they need to be ready to spend 9%–10% of the sale price on selling costs, including the real estate agent commission and closing costs,” says Joanne McCoy, a top-selling real estate agent in Lincoln, Nebraska.

That doesn’t account for the money spent on preparing the home for listing or moving fees. To assist in tracking your total costs, we’ve put together a list of the common fees associated with selling a home, along with a description and the typical amount of each.

You can use this information to better estimate the amount you’ll actually pocket for reinvesting into your next home or creating your retirement nest egg.

Selling fee	Typical % of sale price
Real estate agent commission	5.8%
Staging and prep costs	1%-4%
Inspections and repairs	varies
Title, settlement, and taxes	1%-3%
Seller concessions	0%-6%

Start with a home value estimate

A quick online price estimate can be a helpful starting point to orient yourself in the process. Using recent sales records, market trends, and your home’s latest selling price, HomeLight’s Home Value Estimator provides a preliminary range of value for your property in under two minutes. Enter your address to get started. It’s fast, and it’s free.

Real estate agent commission (5.8%)

One of the first things you should do when you decide to sell your home is hire a top local agent. Research shows an agent’s expertise makes a big difference: In 2022, agent-assisted sellers sold their homes for a median of $345,000, compared to $225,000 for FSBO sellers.

If you work with a real estate agent, you’ll need to pay a commission for their assistance in pricing your home, marketing it to the masses, and negotiating with the other parties in order to get you the best possible price and terms, among other services.

According to HomeLight’s transaction data, the national average real estate agent commission is 5.8% of the property sales price. That commission covers the listing agent and buyer’s agent fees. (It’s customary for the seller to pay both.)

To access commission data specific to your area, consult HomeLight’s commission calculator and enter your city.

Transaction data at HomeLight shows that the top 5% of real estate agents sell homes for as much as 10% more. Connect with top agents in your area today who can help you maximize your property value and offset some of the costs and fees. Our service is free and agents can’t pay to be listed, so you get the best match.

How is your commission divided between agents?

Your real estate agent’s commission is not only split between the buyer and seller agents but also their respective brokerages. Every agent has an agreement with the brokerages in which they hold their real estate license as to how their commission is split.

For example, say you sell your home for $300,000 with a 6% commission rate and each agent has a 60/40 split agreement with their brokerages. That puts your commission at 18,000. Here’s how that will break down:

Seller’s agent: $5,400 (60% of their $9,000 commission share)
Seller’s broker: $3,600 (40% of their $9,000 commission share)
Buyer’s agent: $5,400 (60% of their $9,000 commission share)
Buyer’s broker: $3,600 (40% of their $9,000 commission share)

Staging and prep fees (1%-4%)

When it comes to selling your home, presentation matters. Now, that doesn’t mean you should drop everything to remodel entire rooms that aren’t perfectly modern. According to HomeLight’s Top Agent Insights survey for Spring 2023, you won’t recoup all of your renovation costs — 85% of your spend for a kitchen remodel and 98% for a bathroom remodel.

You may be better off doing light prep work and keeping your budget restrained. Here’s where you can focus your efforts and about how much you can expect to spend on each project:

Declutter ($400 for dumpster rental)

Research shows that decluttering your home prior to listing will pay off in huge rewards. In fact, a HomeLight survey of top agents shows an estimated price increase of $6,523 for decluttering. Clear those countertops, organize the kids’ toys, and remove items junking up your floors — it’s well worth the effort!

Buyers want to envision what your home will look like with their own furniture, and getting rid of unnecessary items and distractions will make your home more attractive.

Decluttering can be done for the cost of sweat equity, though some sellers may need to anticipate costs for junking and storage. Renting a dumpster costs $381 on average. Combine that with some trips to Goodwill and the recycling center to keep decluttering costs manageable.

If you need to rent a temporary storage unit, expect to pay an average of $180 per month. DIYers can follow HomeLight’s decluttering checklist for more guidance.

Deep clean ($300 per clean)

Deep cleaning your home before listing can result in an estimated price increase of $3,731.

A professional deep clean will cost you about $300 on average, but you could save that money and tackle the job yourself using HomeLight’s deep cleaning guide. Scrub the bathrooms and clean the kitchen until it sparkles. Don’t forget easy-to-miss cleaning spots like baseboards, ceiling fans, and window sills.

Apply a fresh coat of paint to interior walls ($2,000)

The safest bet for increasing your home’s appeal to prospective buyers remains bright but neutral colors. Even if you already have fairly neutral colors in your home, a new coat of paint can make a home look and feel fresher overall.

A recent HomeLight survey concludes that buyers prefer light and white color schemes in the kitchen, according to 84% of agents.

Expect professional painters to charge $2-$6 per square foot, or you can do the job yourself for $200-$300.

For more inspiration, you can visit HomeLight’s post on the top home paint colors to sell your house for a room-by-room guide.

Freshen up your flooring ($1,800)

If you have hardwood floors, and they’re in good shape, simply shine them up with some gentle floor cleaner. You can also opt to refinish them for an average cost of $1,831.

Install new hardwood floors for $4,720 or replace dingy carpets for $784-$2,809, depending on the size of the space and the carpet material. If your carpets are decent, rent a carpet cleaner for as little as $27 (for four hours) or pay a pro $75-$125 per room. If you’re selling a high-end home, buyers will likely come in and replace any carpet with hardwood, anyway.

Add curb appeal (average $3,500)

According to HomeLight’s 2022 Top Agent Insights report, buyers will pay 7% more for a home with great curb appeal than a home with a neglected exterior. HomeLight’s top agents estimate spending approximately $3,467 on curb appeal will yield around $11,718 in resale value, a 238% return on investment.

Make sure you mow the lawn, fertilize the grass, edge your walkways and flower beds, and pull up any weeds. HomeLight data shows that if you invest just $340 in basic yard care, you could gain an average of $2,173 in value. Install fresh mulch for another $1,749 boost.

Stage your home ($1,800)

New York real estate agent Rory Clark says there are two distinct advantages to staging your home. First, your property will sell much quicker. 48% of listing agents reported that staging a home decreases the time on market, according to the National Association of Realtors® (NAR).

Secondly, you’ll increase your resale value with a relatively easy solution. A professional staging service will cost you $1,773 on average (even less if your listing agent stages the home themselves). For that investment, 20% of agents reported an increase in resale value of 1%-5%. Another 14% of agents reported a 6% -10% increase.

“There is absolutely going to be an exponential return for a turnkey and staged property,” Clark says.

Adding up prep costs

A seller who completed all these tasks would spend around $9,800 preparing their home for sale, which amounts to around 2.6% of today’s median home sale price of $375,700. However, some sellers’ to-do lists may be shorter if their home is in great shape, or it could require a little more TLC to be marketable. Talk to a top real estate agent about what your house needs and what they recommend putting in for the best ROI. In the 2023 market, homes are selling fast, and less is probably more.

How to Buy a House While Selling Your Own: 10 Options to Consider

Garrett Callahan — Tue, 30 May 2023 11:00:23 +0000

Your house was perfect for you and your family when you bought it — years ago. But you’ve all grown, and now it’s time to find something that’s a better fit. Unfortunately (because the experience usually isn’t fun!), this has you wondering how to buy a house while selling your own.

Buying or selling a property can be stressful, no matter the circumstances. But if you need to do both simultaneously, it can escalate from “stressful” to an extremely daunting experience. You want to find the best offer for your current home while ensuring you have enough of a down payment for your new property. All the while, the timelines need to match up, so you’re not left without a roof over your head.

Sound intimidating? That’s OK! We’ve talked to veteran real estate agents to build an end-to-end guide on how to buy a house when you own a house. So, instead of stressing your way through two sales, you can set yourself up for success and have your bags packed for your new home in no time.

First: Do your research

Before you begin choosing the best way to buy a house while selling your own, talk to a real estate agent who can explain and break down all of your options.

Your agent can give you a sense of what your house could list for right now and how fast it’s likely to sell. They’ll also get a gauge for your timeline and build a step-by-step process that makes the most sense for you.

Real Estate Agent Commission: How Much Do Agents Make in 2023?

McCoy Worthington — Tue, 30 May 2023 11:00:00 +0000

Most real estate agents get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average real estate agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. The commission is generally paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

Generally, you can expect to pay between 5%-6% in agent commissions when selling a home in 2023, with some variation based on location. On a property worth the median home sale price of $467,700 as of Q4 2022, that amounts to $23,385 – $28,062 in commission costs.

Here’s a breakdown of how much you would pay in real estate commissions based on what a home sells for:

Home price	5.8% real estate agent commission
$200,000	$11,600
$350,000	$20,300
$500,000	$29,000
$750,000	$43,500
$1,000,000	$58,000

Still curious about commission? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

Typically the seller in a transaction will pay commission fees in full. As top real estate agent Rachel Moussa of Flower Mound, Texas, explains, in most places, “the standard is for sellers to pay both the listing agent and the buyer’s agent’s commission. The listing agent puts on the MLS what percentage the seller has agreed to pay cooperating brokers.”

5 of the Top We Buy Houses for Cash Companies in Berkeley

Jennifer Schmidt — Fri, 26 May 2023 11:00:43 +0000

We Buy Houses companies in Berkeley make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Perhaps the company you worked for is downsizing, or you’ve landed a new job in another city and the employer needs you to start right away. Maybe you’re facing a financial deadline or an unexpected life change and need to move right away. Or it could be that you need to cash out an inherited Berkeley property to settle an estate.

If you need to sell your Berkeley home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Berkley house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

Selling a House As-Is: How to Skip Repairs and Move On!

Evelyn Waugh — Fri, 26 May 2023 11:00:37 +0000

A shifting market has home sellers eager to sell quickly. But shaky economic conditions and the still-high cost of labor and materials have many homeowners priced out of making needed repairs and renovations. If you simply don’t have the time or funds to dump into remodeling and negotiations, selling a house as-is may feel like a no-brainer.

If you have to lower your price, so be it. An old electrical panel, stained carpeting, and kitchen straight out of the ‘90s mean buyers won’t consider the house move-in ready or necessarily pay top dollar. But you don’t have enough money or time to perform a bunch of work, and you’d rather just collect a decent sum and move on.

But to sell without doing repairs, you’ll need to find buyers willing to take on homes that might need a little TLC. And, you certainly don’t want to leave any money on the table. So how do you pull off a profitable, quick as-is sale?”

To get answers, we called on a highly-experienced group of as-is home sale experts for the scoop on how to nail an as-is sale.

Without further ado, here’s what the experts have to say about selling a house as-is. In the end, hopefully, you’ll be able to answer the question, “Should I sell my house as-is?” with confidence.

What does it mean to sell a house as-is?

What exactly does it mean to sell as-is? In short, it means a buyer will purchase your home without you making any repairs.

The term can be used broadly by many agents to simply refer to a home sale for a house that hasn’t been recently updated or is in need of repair.

According to Mandy Williams, a top Alabama real estate agent, that can look a lot different than a turnkey transaction. “A lot of buyers expect to walk into a house that’s listed on the traditional market and see a home that’s been completely updated to today’s trends and standards,” explains Williams, who sells homes 35% quicker than the average agent in Birmingham.

But marketing your home as-is conveys to buyers that your home may be in imperfect condition, notes Jena Bebleh, a top agent in Peoria, Arizona, with 18 years of experience. “In an as-is sale, a buyer is purchasing a home in its current condition,” she says. “That may mean the seller won’t do any repairs, even if they come up on an inspection report. The buyer is willingly purchasing the home in its current state with full knowledge of its condition.”

That last bit of her comment is critical to grasp; by selling as-is, you aren’t absolved of the duty to share what you know about the home to buyers — and an as-is label, particularly on an open market sale, is not a fail-safe to avoid all negotiations.

That said, selling as-is can still be a viable strategy if you go about it the right way.

Jeff Shipwash of Shipwash Properties in Knoxville, Tennessee, flips multiple houses each year and routinely buys as-is properties. As an experienced investor, he explains, “If you own a home that needs several repairs and don’t have the finances, or simply don’t have the time or desire to undergo the stress of home remodeling, selling as-is could be for you.”

How Big Is an Acre? A Guide for Homebuyers

Julie Guthmann — Thu, 25 May 2023 18:30:54 +0000

You’ve been searching online and found a few homes that meet your criteria of three bedrooms and two bathrooms. But as you read the listing descriptions that indicate one house is on 0.23 acres and another has a lot size of 8,730 square feet, you’re baffled by what these numbers actually represent.

Your digital assistant tells you that an acre is the same as 43,650 square feet, but you’re still perplexed as you compare listings and try to visualize yard size, RV space, or the proximity of adjacent properties. How big is an acre, really? What does a 0.20-acre lot mean when buying a house?

We’ve gathered insights from a top real estate agent and experienced land surveyor to bring into focus the concept of residential lot size and help answer the question — How big is an acre?

How important is lot size?

Lot size is “in the top three criteria with purchasing a house,” says Mason George, an award-winning real estate agent in the metro-Atlanta area who is accredited as a buyer’s representative and land consultant. The number of bedrooms and architectural style are also significant, but George emphasizes the importance of lot size in determining the location and type of community for a potential homebuyer.

But it’s not easy to get a clear picture of the property’s size from an abstract term such as a quarter acre or 10,890 square feet.

“What I recommend is that you pick three different size lots and you walk through three different types to get a visual understanding of what you’re actually looking at,” advises George.

How to Sell a House By Owner in North Carolina

Jody Ellis — Thu, 25 May 2023 17:53:34 +0000

When the time comes to move, some tenacious homeowners in North Carolina are eager to take over the reins of their home sale and figure out how to sell a house by owner.

In this guide to selling FSBO in North Carolina, we’ll cover what can be the most difficult aspects of selling by owner in the Tar Heel State, including the steps that might be harder than you think. We’ll also provide a comprehensive overview of the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals in your North Carolina market who can help you command top dollar and provide a low-stress selling experience.

How does selling by owner (FSBO) work in North Carolina?

Disclaimer: This blog post is intended for educational purposes only. HomeLight recommends that you look into the real estate regulations for your area and consult a trusted advisor.

Sellers should also consider things like whether or not their HOA will allow yard signs (many don’t!) or if they can put their house on the multiple listing service (MLS). While you don’t need a real estate agent to do this in North Carolina, you also can’t do it yourself — you would need to hire a flat-fee MLS listing service to do it for you, and you’d still have to provide your own listing information and photos.

Next: Consult our guide on who pays closing costs when selling a house by owner for more details.

Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. In North Carolina, sellers are required to use a real estate attorney, and FSBO sales typically warrant legal and professional oversight of some kind to avoid an abundance of legal risk.

Most people who sell by owner will need to hire an attorney to review and prepare key documents and make sure paperwork is filled out properly, such as the seller’s disclosures.

We’ll address what disclosures are required when selling a house in North Carolina later in this post.

Why sell a house by owner in North Carolina?

The top three reasons people cite for selling FSBO include: “did not want to pay a commission or fee” (44%); sold to a relative, friend, or neighbor (29%); or that the buyers contacted the seller directly (16%), according to NAR data.

To get a firsthand perspective on selling homes in North Carolina, we spoke with experienced agents who specialize in the southern states, asking them to share their insight as to how the process works and some of the things FSBO home sellers should consider.

Top-selling agent Kevin Richter, based in nearby Charleston, South Carolina, is very familiar with the region’s housing market. He says that most of the FSBO sellers he encounters “believe that they can save money on commissions and make more money at the table.”

However, 2022 data from NAR shows that “FSBO homes sold at a median of $225,000, signiﬁcantly lower than the median of agent-assisted homes at $345,000.” This NAR data contrasts the median prices among all FSBO homes (for which we have limited data) against all agent-assisted homes, regardless of distinctions like square footage. However, an independent study from 2016 to 2017 which does adjust for square footage, also shows a significant price difference: FSBO homes sold for an average of 5.5% less than agent-marketed sales.

Keri Shull, a top Virginia-based agent with 21 years of experience in several southern states, adds that sellers who choose FSBO often expect to save money, but don’t realize that they will still need to pay the buyer’s agent commission, and that the net proceeds when selling by owner can actually be much less.

“Their perception is they’re saving six percent,” she explains. “But really, what they’re talking about is the listing agent commission (around 3%). And often the amount they would make with a listing agent is dramatically more than what they save on that commission.”

As you can see, FSBO is a mixed bag. So, before we share our selling tips, let’s lay out some pros and cons to help you decide if this is the route for you.

Pros of selling a house by owner

Ability to save on listing agent commission fees, usually around 3% of the sale price.
You’re entirely in charge and can manage the sale as you please.
No “go-between” in your communications with buyers.

Cons of selling a house by owner

FSBO listings tend to sell for less, statistically speaking. Unless the seller already has a buyer lined up, FSBO listings can take longer to sell. For example, according to Richter, FSBO homes in his region can spend two extra weeks or more on the market.
Managing all communications and negotiations yourself is time-consuming. Not having a communication buffer can be a downside if the buyer pushes back or says negative things about your property.
You’ll be negotiating without help from an expert, which could mean leaving money on the table.
Setting the listing price is challenging — you may be tempted to go too high. You could also risk under-selling with a low price.
Marketing your home is time-consuming.
You’ll still have selling costs, which may include transfer taxes and settlement fees. Not having agent representation could also lead to paying more in seller concessions.
Without the help of an agent to guide you through the disclosure process, you may put yourself at legal risk to be held liable for potential future problems with your home.

In spite of the cons, we’ll help you navigate the challenges of FSBO if you’re committed to selling your North Carolina house without agent assistance. For some, selling a home FSBO is a challenge worth accepting, and success can be measured in more ways than one.

Steps to sell a house by owner

Next, let’s review the FSBO process step by step.

1. Prepare your house for sale

Whether you’re selling with an agent or FSBO, at a minimum, you’ll want to get your North Carolina home into respectable shape before any showings to increase your chances of receiving a fair price. Here are a few standard tasks to add to the list.

Indoors

These efforts will go a long way toward impressing buyers looking for a home in North Carolina:

Declutter floors, shelves, and surfaces throughout the home.
Make small fixes and repairs, like a leaky faucet or broken door handle.
Lightly update with new light fixtures, faucets, or cabinet hardware.
Refinish hardwood floors.
Repaint bold walls (or those that look dingy) in a neutral color.
Reduce furniture in crowded rooms — consider a temporary storage unit.
Stage the home with final touches like fresh-cut flowers or a basket of fresh produce.
Use rugs to define spaces and place them strategically.
Deep clean until the house is sparkling.
Open blinds or drapes to show off a great view and add natural lighting. Replace any dim, blown, or missing bulbs with bright bulbs.
If your home is on or near the coast, address any wear and tear related to that refreshing, but sometimes damaging, ocean air.

Richter, who works with 74% more single-family homes than average agents in his market, stresses the importance of depersonalizing the home by removing personal photos and items that might detract from the home itself.

“Help people see themselves in your house as opposed to seeing you in their home,” he says, adding “I also recommend starting the great purge,” It’s unlikely that you’ll take all of your current possessions with you to your next house, so pack up what you no longer need and either donate, have a yard sale, or throw things away.

Outdoors

Data from HomeLight’s 2022 Top Agents Insight Report shows that, on average, “Buyers will pay 7% more for a house with great curb appeal versus a home with a neglected exterior.”

Some important curb appeal upgrades can include:

Mow the lawn and pull weeds.
Apply fresh mulch liberally.
Upgrade your landscaping. Consider a new walkway, flowerbed, or shrubs.
Add a fresh coat of exterior paint.
Install a new garage door if yours is looking old or not working properly.
If your backyard has red or white oak trees (common in North Carolina) you probably already know that they drop leaves in winter, so be sure to rake up any debris and trim any wayward branches.

Richter recommends “adding that little touch of character to sell the lifestyle more than just the home itself.” He suggests a hammock in the yard or brightly colored Adirondack chairs to create a relaxing atmosphere for potential buyers.

2. Do the homework necessary to set a competitive price

You’ve arrived at a critical moment in your FSBO process: setting a listing price. You don’t want to leave money on the table, yet you want to encourage activity on your listing.

Before listing a home, an agent usually conducts a comparative market analysis (CMA). This is a highly-detailed study of “comps” — similar homes nearby that have sold recently, are pending, on the market, or were previously listed but taken off the market. Some may have even been pulled off the market without a sale.

“Overpricing is a catastrophic mistake in today’s market because it’s your one chance to make a good first impression. If buyers see that a property has been reduced and reduced again, they think something’s wrong with it,” says Shull. “The seller may ultimately have to reduce to an even lower price. It’s best to price correctly the first time.”

Without an agent, you’ll miss out on the complexity of a full CMA and the know-how to interpret it.

However, with a little time and money, you can set a competitive price yourself.

Conduct your own “CMA Lite”

It’s time to roll up your sleeves and research.

Start with an online home value estimate
As a starting point, look at several online estimators for your home’s value. HomeLight’s Home Value Estimator aggregates publicly available data such as tax records and assessments, your home’s last sale price, and recent sales records for other properties in the same neighborhood.

We also add a new layer of information to our estimates using a short questionnaire. Tell us a few details about your North Carolina home, such as:

How much work does it need?
What type of home is it (single-family, condo, townhouse, or other)?
Roughly when was your house built?
Are you planning to sell soon?

Using these insights, we’ll provide you with a preliminary estimate of home value in under two minutes.

Whether you use Zillow, Chase, Realtor, or Redfin to get a home value estimate, think of any online home price tool as a first step (not your only source of truth) — and recognize that the data used may be limited.

Narrowly filter your search for comps
When you’re ready to find comps, you can choose from sites like Zillow, Trulia, Redfin, or Realtor.

You’ll want to filter your searches to the area very near your house (within blocks if possible) and with similar characteristics. If you’re not finding any comps, expand your search map.

You’ll also want to filter results by details like:

Listing status (look at recently sold, pending, and active)
Number of bedrooms
Number of bathrooms
Square footage
Home type (single-family, condo, etc.)

Beyond the above criteria, the more houses you find with floor plans and an age similar to yours, the better.

Use a site like Zillow to collect your data
As an example, let’s take a look at how to filter your search for comps on Zillow.

Navigate to Zillow.
Type in your address. If a pop-up with your home’s specs appears, close it.
Filter by “sold.” Yellow dots should appear on the map surrounding your house.

Now, filter by the number of bedrooms and bathrooms and check the box “Use exact match.”

Next, filter by home type.

Next, select the “More” box. Here you can specify square footage, lot size, year built, and — crucially — the “sold in last” (time period) category.

Scroll down and select to view houses that sold in the last 30 days.
If you find there are not many results in your area, try expanding to 90 days. However, the further back you go, the less relevant the comps.
If necessary, click the plus or minus buttons to widen the search area.
Once you’ve collected data for sold houses, revise or restart the search to view active and pending listings, as well.

Invest in an appraisal
If you want to further reduce guesswork, top agents recommend paying an appraiser to provide a professional opinion of value for your home. An appraiser will combine recent property data, research of the surrounding market, and information collected from a walkthrough of your home to determine an appraised value. For a single-family home, an appraisal will likely cost $500 to $600 — well worth it to avoid possibly over- or underpricing your house by thousands.

Richter cautions FSBO sellers that private appraisals may differ from bank appraisals. “I tend to see that those come in much lower than actual market value,” says Richter. “Meet with a couple of professionals to get the best possible market analysis and valuation of your home.”

Make sense of the research
Compare your home’s features against the nearby comps you collected. Hopefully, the houses you studied give an indication of an appropriate price range for your home. From there, you can make dollar adjustments based on characteristics that add value (patios, curb appeal, an extra bedroom) versus detracting from it (a busy street, deferred maintenance, less square footage).

Consider the differences and similarities of comps with the appraised value of your home to choose a price that will encourage activity (too high and it may seem out of reach to many buyers), but will also maximize your profit.

3. Photograph your home

Listing photos are powerful, either pulling in buyers for showings or keeping them away.

To give your listing an edge, consider hiring an experienced real estate photographer. While they may charge as much as $140 to $180 an hour, Richter says professional photos can make or break a deal.

“Professionals capture an actual image of the home, versus just a couple of snapshots. It makes a huge difference,” he says. Richter also recommends getting drone photos to showcase the surrounding area.

If you do go the DIY route, make sure to:

Use a good camera with a wide-angle lens.
Pay attention to lighting.
Include a photo of every room.
Take multiple pictures of living areas, kitchens, and bathrooms.
Try shooting different angles.

Review our guide on how to take quality real estate photos for further guidance.

4. Create a detailed, compelling listing

Along with stellar photos, you’ll want to craft an informative and compelling listing. Leverage both the listing description (a paragraph or two highlighting key features) and the property details to show potential buyers all about your home and what makes it desirable.

Tell a story with your description
Draw in potential buyers with a powerful listing description that tells a story about your North Carolina house, including details like:

Your home’s most unique and desirable features, like a breakfast nook or sunroom
Recent upgrades like a kitchen or bathroom remodel or new roof or HVAC system
High-end appliances, materials, or finishes
Outdoor features like a pool or patio
Neighborhood features and amenities
Nearby parks, walking trails, restaurants, and attractions
Historic significance and vintage architectural styles such as Colonial, Federal and Georgian

“Don’t just sell the house — sell the area, the schools, the location, and proximity to hospitals,” advises Richter. “If you are providing information and insights just based on what the house has, you’re selling the lifestyle short.”

Lastly, and this is crucial: specify in your description the commission a buyer’s agent will receive from the proceeds. Most agents don’t want to show their clients properties from which they’d receive a paltry commission. When you list in the MLS, you must include a buyer’s commission. It can be as little as $1 but recognize that may limit your buyer pool as buyers’ agents typically expect to be compensated for their efforts. If you choose not to list in the MLS so you can forego the buyer commission, you’ll seriously limit the exposure your home will get.

Don’t skimp on the property details
Aside from writing the description, you may be prompted to enter information like:

Age of the home
Square footage
Architectural style (i.e., split-level, rancher, craftsman)
Appliances included
Exterior building materials
Flooring types
HOA fees
School zone information
Lot size

Many real estate agents and potential buyers really do read this “fine print” on your listing — so include accurate details, and plenty of them.

Provide HOA or flood insurance specifications if they apply to your home. “Those things really can equip a buyer with the information they need to make a decision,” says Richter. Otherwise, the deal could fall apart if buyers can’t afford the additional costs.

5. List your home online

It’s finally time to post your North Carolina home online. While you can create FSBO listings for free on popular search sites, you’d have to painstakingly post site by site, and your listing wouldn’t reach the majority of buyers and agents.

To give your home the most exposure, pay to have your home put on your local MLS (multiple listing service) — a platform agents use to share properties with one another as well as major real estate sites. Posting there will feed your listing to buyers’ agent databases and to common sites buyers use.

Only licensed real estate agents and brokers who are MLS members can post to the MLS. However, you have two options to gain access: paying an agent to post for you or using a FSBO platform online.

Pay an agent to list your home on the MLS
A local agent may be willing to list your house on the MLS for a flat fee, without any other involvement in your real estate transaction. If you decide to go this route, ask whether the fee includes updating your listing if necessary.

Use a FSBO platform with an MLS option
You can use various paid websites to list your North Carolina house online as “for sale by owner.” These sites offer packages ranging from about $100 to $400 for just a listing, or a larger flat fee of $3,000 to $5,000 that includes any number of additional professional marketing services.

Some of these companies display their rates on their websites, but others won’t quote a fee until you input your address or select an area of the country. A few examples include:

It’s important to note that most of these companies serve FSBO sellers nationwide, which can cause challenges if the assisting representatives don’t understand the local market trends in your North Carolina neighborhood.

Whatever you choose, read the fine print carefully: some sites may have hidden fees or even take a percentage off your sale — a detour you’d rather avoid on the FSBO route.

Not willing to pay for the MLS?
If you’re determined to save money by foregoing the MLS, creating a free FSBO listing on Zillow might be your top option. You can post a video and unlimited photos, and get fairly wide exposure via Zillow and the Zillow-owned Trulia.

6. Market your home

Now it’s time to spread the word about your North Carolina home.

Posting a home on the MLS is just the beginning of the marketing phase. A successful home sale requires a deliberate and targeted marketing plan to reach the right buyers and attract the best offers. As a FSBO seller, you do lose out on some of the marketing exposure an agent gives you, and your property will be competing with homes that are being sold with the benefit of the marketing tactics used by a professional agent.

There are, however, things you can do on your own to market your home and spark buyers’ interest!

Here are some of the steps you can take to market your home:

Place a nice FSBO sign by the road
Consider getting a custom yard sign rather than purchasing a generic one you write on with a Sharpie. You can order a custom sign on a site like Vistaprint with your contact information, plus a stand, for as little as $25 plus shipping. Note that some MLS providers may have rules about whether you can post a FSBO yard sign while your home is on the MLS.

Share on social media
Share your home across social media — and ask your friends to share, too.

Richter emphasizes the power of social media marketing to help cast a wider net and reach buyers in unlikely places. “It has a huge impact because you want to be in as many places as possible,” he says. “Buyers can be impulsive. They may not even be looking for that type of house, but then see that picture of the kitchen or the backyard or whatever the thing is that draws somebody in.”

Hold an open house
Try these strategies for a successful open house event:

Share details on Facebook and Nextdoor.
Update your MLS listing with the open house details (if you’re able to as part of paying the flat fee), or update your DIY FSBO listing.
Place open house signs at nearby intersections.
Tidy up the house before potential buyers come through.
Pass out info sheets with the address, bullet points about the house, your contact info, and perhaps one photo.
If you can, collect visitors’ info — then follow up later to ask if they have any questions.

Find more expert tips for how to hold an open house at this link.

7. Manage showings

If your marketing is successful, your next step will be to show the home to prospective buyers. Welcome to the busiest phase of the home sale process. One major reason some FSBO sellers switch to an agent is that they underestimated the time, energy, and expertise needed to manage this crucial step.

Communication may be a significant problem for FSBO sellers if their contact information is not readily available online or agents representing potential buyers can’t reach them to make an appointment. “Make sure that you have the systems in place so that people can contact you,” Richter advises. You won’t have many showings if buyers or their agents can’t get ahold of you.

To manage the logistics of showings:

Respond to inquiries ASAP.
Set end times if you need to fit many showings in one day. This will also create a sense of demand and urgency for buyers to place offers.
Remove or secure valuables.
Make sure the home is clean and tidy for showings.
Follow up with buyers’ agents after showings to get their feedback.

Should you be present for showings?
If you’d rather not be present for every showing, consider using a lockbox with a code to let buyers’ agents enter the house. This is standard industry practice among agents. To ensure you’re working with someone legitimate, use Google or sites like arello.com to check their real estate license number. “In the perfect world, buyer and seller should never meet,” says Richter. There’s no need to be present if a licensed agent accompanies the buyer.

With unrepresented buyers, plan to be on the property for the showing. During a showing, we recommend you:

Point out a few highlights of the house.
Let buyers look without hovering.
Be prepared to answer questions.
Avoid the temptation to tell all — let the house and listing do the talking.

While you shouldn’t share too much information if talking to an unrepresented buyer, Richter says it’s better to over-disclose when it comes to your home’s condition. “A lot of ‘for sale by owner’ sellers get into hot water by under-disclosing,” he notes.

8. Evaluate offers, negotiate a deal, and make disclosures

You’ve got your first offer — congratulations! Before signing anything, Richter says, “It’s important to open a dialogue with the buyer’s lender to verify they do in fact have the ability to purchase that home.”

Sellers should also keep in mind that while buyers can often get pre-approved for a mortgage at the click of a button on a website, they may not have submitted the documentation to guarantee that approval. Or their employment or financial situation might have changed, thus affecting their ability to get a loan. “With our current climate of changing interest rates, that same pre-approval from a month ago may not be valid today for the price of their home,” Richter says.

Here are key considerations when considering an offer on your North Carolina home:

Vet potential buyers by requiring a mortgage pre-approval letter or proof of funds.
Require everything in writing.
Remember, you can counter-offer and negotiate.
Look for a good real estate attorney. (See the next step!)

Property condition disclosure
In North Carolina, sellers are required by law to disclose the full condition of the home to the buyer. This requirement not only protects the buyers from any “surprises” like leaking roofs or broken water heaters, but also protects the sellers from potential litigation. Known as the Residential Property Disclosure Act, the law applies to almost all transfers of residential real estate–even if you don’t have an agent. The disclosure must be provided no later than the time the buyer puts in their offer, so this is something you’ll want to have completed and ready before that offer is on the table.

In an agent-assisted sale, your listing agent would likely provide you with the required disclosure form(s). However, as a FSBO seller, you can find the form online.

What will you be asked? In North Carolina, you can expect to disclose any significant defects or issues you’re aware of concerning:

Water supply and sewage disposal system (plumbing, water heater, septic, etc.)
Electrical systems (light fixtures, garage door openers, smoke and burglar alarms, etc.)
Heating and cooling system (central air, furnace, fireplace, propane tank, etc.)
Roof (age, leaks, number of shingle layers, etc.)
Structural components such as chimneys, flooring, basements, and foundation.
Hazardous conditions (methane or radon gas, lead paint, mold, asbestos, etc.)
Infestation of wood-destroying insects such as termites, or past infestation that has caused damage that has not been repaired.
Other disclosures (land use, encroachments, zoning or code violations, moisture or water problems, etc.)

If in doubt about a problem with the home’s condition, most top real estate agents would recommend you disclose it. If you know of an issue and choose not to disclose a major problem, and that defect is later discovered, you could be held liable for damage or subsequent costs.

9. Close the sale — with professional help

Time to button up that deal.

Because North Carolina is one of several states that require a real estate attorney for closing, you’ll already have an attorney handling the bulk of the closing and verifying documentation. Additionally, you may want to hire your own attorney ahead of time to review your paperwork and make sure you haven’t missed anything.

Even if hiring an attorney was optional in the state, Richter says that it’s important to hire your own attorney “so that you have somebody protecting your interest if there are any disputes down the line.”

Real estate attorney fees can vary depending on location and how much help you want or need. In North Carolina, the average hourly rate for a real estate lawyer is about $310, which might be well worth it for professional guidance in closing one of life’s largest legal transactions.

FSBO mistakes to avoid in North Carolina

On your FSBO journey, watch out for these major pitfalls:

Missing out on the MLS.
Forgetting or refusing to pay the buyer’s agent commission.
Over- or under-pricing.
Letting your house sit on the market too long.
Not getting enough marketing exposure.
Being overly fixated on any one detail.
Not showing your home’s full potential if you don’t declutter and remove personal decor.

Shull explains that one of the biggest mistakes sellers make is getting too emotional about the process. “Twenty to 25 percent of the deals I’ve negotiated would’ve been blown by an emotional reaction. Many sellers shut down during negotiations. They need to take a lot of breaths. They need to take time to evaluate the upside and the downside of any decision. In a negotiation, it’s crucial to focus on the logic,” she says.

You also don’t want to make the common FSBO mistake of letting home inspection issues delay or even kill a deal. “Have the pre-inspection done so that you can be ahead of any potential issues,” Richter suggests. Rectify problems ahead of time so the buyer’s home inspection goes much smoother, thus leading to a quicker and less stressful sale.

Alternatives to selling by owner in North Carolina

If you decide you don’t want the hassle or pressure of FSBO, you’ve got other solid options.

Enlist the help of a top-rated real estate agent

Ultimately, the services and price gains you can get with an experienced real estate agent may put more money in your pocket than FSBO. A proven agent is also better equipped to help you achieve your selling and moving timelines.

Richter shares an experience with a client who unsuccessfully tried to sell his house by owner to save commission. He placed a sign in the yard and took some photos with his cellphone, but after spending about 40 days on the market he turned to Richter to sell his home. “Then I stepped in. Brought my drone. We did a virtual 3-D walkthrough. We did a social media blast,” says Richter. A top agent helped the FSBO seller-turned-client sell the home at a price that greatly exceeded his expectations.

Interested in such expertise? HomeLight can connect you to top-performing agents in your North Carolina market. Our free tool analyzes over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. It takes only two minutes to receive your matches.

Request a cash offer to buy your North Carolina home

If you’d like to skip the sale prep altogether — plus avoid paying agent commissions — you can opt to sell your home “as-is” to an all-cash buyer instead.

For a low-stress experience, consider requesting a cash offer from HomeLight’s Simple Sale platform. Tell us a few details about your home, and in as few as 48 hours, we’ll send a no-obligation all-cash offer your way. If you decide to accept the offer, Simple Sale sellers have the ability to close in as little as 10 days.

Without leaving the Simple Sale platform, you’ll also be able to compare your cash offer to an estimation of what your home would sell for on the open market so you can make an informed decision.

Ready to sell your North Carolina home?

Unless you already have a buyer lined up, selling a house by owner in North Carolina requires a significant investment of time and effort. You’ll need to pull your own comps, capture excellent pictures, create a listing, market the house online, field inquiries, host showings, negotiate, and close the deal. And that’s after preparing the house itself.

You also have to consider that FSBO listings tend to sell for less than agent-assisted sales. An experienced agent who knows the area can make recommendations for targeted upgrades to help you maximize your sale price and get a premium offer. This can help to offset or, in some cases, more than make up for the cost of commission — while saving you time and headaches.

If you choose to go FSBO, you should have a good idea now of what to expect from the process. Otherwise, our internal transaction data at HomeLight shows that the top 5% of real estate agents sell homes for as much as 10% more than average, and we’d be happy to introduce you to some of the best agents in your North Carolina market.

Writer Hayley Abernathy contributed to this story.

Header Image Source: (Gene Gallin / Unsplash)

What’s the Average New York Real Estate Commission Rate?

Dena Landon — Thu, 25 May 2023 17:33:12 +0000

Most real estate agents in New York get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in New York?

While first-time homebuyers may balk at a Realtor’s fee when they first calculate it, Realtors do a lot of work to help sell your house. Anthony Butera runs a real estate team in Rochester, New York, that tracks the hours spent on each sale. He says that his team spends anywhere from 35 to 50 hours working with a buyer or seller. “Some deals are really complicated, some are messy, some die, and you start from scratch,” he says.

In this post, we’ll help you determine how much commission you might pay on your New York home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in New York?

According to Butera, who sells homes 73% faster than the average Rochester agent, you can expect to pay between 2.85% in seller’s agent commissions when selling a home in New York, and roughly the same amount to the buyer’s agent. This makes the average total agent commission in New York about 5.7%. You’ll find some variation based on location within the state.

On a property worth the current median home sale prices in New York, which ranges from a low of $93,250 in Allegheny County to a high of $770,000 in Westchester County, that amounts to $5,315–$43,890 in commission costs.

Real estate commissions do vary depending on where you’re home shopping. Butera points out that “Because our average sales price in upstate NY is still below the national average, our commissions are not contested as often as they are downstate. In highly competitive markets with a high average sales price, that commission drops.”

Here’s a breakdown of how much you might pay in real estate commissions based on local commission data and what a typical home sells for in six of the largest cities in New York:

City	Median home price	Avg. commission rate	Typical commission
New York City	$574,986	5.00%	$28,749
Buffalo	$350,000	5.80%	$20,300
Yonkers	$350,000	5.80%	$20,300
Rochester	$153,897	6.00%	$9,234
Syracuse	$147,683	4.97%	$7,340
Albany	$227,300	4.97%	$11,297

Median home prices calculated from multiple public sales data sources.

Still curious about commission rates in New York? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

But as Butera explains, while this is the nationwide standard, most sellers take the commission costs into account when setting the list price and accepting an offer. “It’s going to be fixed into the deal somehow, whether it’s through a concession the sellers have to provide the buyer” or the price.

Flat fee listing agents will put a home on the MLS for a flat fee, but they typically do not provide any other crucial services, such as marketing, scheduling showings, negotiating, or seeing the deal through to completion.

What’s the Average Texas Real Estate Commission Rate?

Meaghan Hunt — Thu, 25 May 2023 17:27:13 +0000

Most real estate agents in Texas get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Texas?

In this post, we’ll help you determine how much commission you might pay on your Texas home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Texas?

According to Ryan Adams, a Houston real estate expert and HomeLight Elite Agent, you can expect to pay a standard of 6% in agent commissions when selling a home in Texas, with some variation based on location within the state. On a property worth the current statewide median home sale price of $326,800, that amounts to $19,608 in commission costs.

However, he explains that the vast majority of single-family residential sales will fall around the 6% mark, with a 3% buyer’s commission and a 3% seller’s commission. We’ll explain the details of this commission split later in our post.

Using an overall statewide average of 6%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six of the largest cities in Texas:

Texas city	Median home price	Typical commission at 6%
Houston	$320,000	$19,200
San Antonio	$307,950	$18,477
Dallas	$385,000	$23,100
Austin	$444,050	$26,643
Fort Worth	$385,000	$23,100
El Paso	$245,000	$14,700

Median home price source: Texas Realtors®, TexasRealEstate.com

Still curious about commission rates in Texas? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

As top real estate agent Ryan Adams of Houston’s Adams Group explains, a 50/50 split of the 6% commission on a home is most common in Texas.

What’s the Average Delaware Real Estate Commission Rate?

McCoy Worthington — Thu, 25 May 2023 16:51:26 +0000

Most real estate agents in Delaware get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Delaware?

In this post, we’ll help you determine how much commission you might pay on your Delaware home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Delaware?

According to Dustin Parker, a Millsboro agent who has sold over 1,000 single-family homes, you can expect to pay between 5%-7% in agent commissions when selling a home in Delaware, with some variation based on location within the state. On a property worth the current statewide median home sale price of $342,983, that amounts to $17,149–$24,008 in commission costs.

“Delaware is interesting in that because we have a resort market along the coast and then a more traditional rural market a little further inland, our price points range from $4-$5 million all the way down to $45,000 mobile homes. So, finding an average in terms of commission is fairly challenging,” says Parker. “The commission for lower-priced homes or properties is typically going to be higher than it may be for more expensive homes.”

Using an overall statewide average of 6%, here’s a breakdown of how much you might pay in real estate commissions based on what a typical home sells for in six of the largest cities in Delaware:

Delaware city	Median home price	Typical commission at 6%
Wilmington	$278,421	$16,705
Dover	$278,941	$16,736
Newark	$332,714	$19,963
Middletown	$438,154	$26,289
Bear	$378,683	$22,721
Glasgow	$394,222	$23,653

Median home prices calculated from multiple public sales data sources.

Still curious about commission rates in Delaware? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

As Parker explains, “Almost every time, the seller is responsible for the real estate commission fees, and that’s written into their listing agreement that they would sign with whoever the listing agent is. In some cases, sellers will choose to split that evenly with the buyer’s broker or representative, and others may not — where it may be a 3.5%/2.5% split, for example.”

What’s the Average Nevada Real Estate Commission Rate?

Max Efrein — Thu, 25 May 2023 16:42:56 +0000

Most real estate agents in Nevada get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Nevada?

In this post, we’ll help you determine how much commission you might pay on your Nevada home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Nevada?

Rick Ruiz, a top-selling real estate agent in Las Vegas, Nevada, who sells properties 47% quicker than the average Las Vegas agent, says you can expect to pay between 4%-6% in agent commissions when selling a home in Nevada, with some variation based on location within the state. On a property worth the current statewide median home sale price of $390,949, that amounts to $15,638–$23,457 in commission costs.

“Like anywhere else in the country, our median home price did go down in the last year,” says Ruiz. “Now that interest rates have stabilized in the sixes, and that’s the new normal, we’ve seen buyers reengage back into the market with a lot of enthusiasm. By definition, we are in a seller’s market. If a property is priced well, it’s getting multiple offers due to a lack of inventory.”

Using an overall statewide average of 5%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six of the largest cities in Nevada:

Nevada city	Median home price	Typical commission at 5%
Las Vegas	$407,771	$20,389
Henderson	$463,183	$23,159
Reno	$513,317	$25,666
North Las Vegas	$387,468	$19,373
Enterprise	$448,089	$22,404
Spring Valley	$398,341	$19,917

Median home prices calculated from multiple public sales data sources.

Still curious about commission rates in Nevada? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

“About 99% of the time, the seller pays all real estate commissions,” says Ruiz. “There’s usually an agreed-upon commission on the contract. From that agreed-upon commission structure, there will be a buyer/broker compensation that is now public.”

This means the listing agents include the buyer’s agent commission on the multiple listing service (MLS) description. That way, the commission structure is transparent before the buyer’s agent shows the house.

What’s the Average North Carolina Real Estate Commission Rate?

Garrett Callahan — Thu, 25 May 2023 16:40:02 +0000

Most real estate agents in North Carolina get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in North Carolina?

In this post, we’ll help you determine how much commission you might pay on your North Carolina home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in North Carolina?

According to Christi Hill, a top North Carolina real estate agent with nearly two decades of experience, you can expect to pay between 5%-6% in agent commissions when selling a home in the Tar Heel State, with some variation based on location. On a property worth the current statewide median home sale price of $302,142, that amounts to $15,107–$18,129 in commission costs.

Hill says North Carolina’s real estate commission is in line with the national average. Exactly what you pay depends on your location and what you’re asking your agent to do.

Using an overall statewide average of 5.5%, here’s a breakdown of how much you might pay in real estate commissions based on what a typical home sells for in six of the largest cities in North Carolina:

North Carolina city	Median home price	Typical commission at 5.5%
Charlotte	$395,500	$21,753
Raleigh	$431,000	$23,705
Greensboro	$276,100	$15,186
Durham	$425,600	$23,408
Winston-Salem	$285,200	$15,686
Fayetteville	$220,900	$12,150

Median home price source: National Association of Realtors.

Still curious about commission rates in North Carolina? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

Hill, who works with 87% more single-family homes than average agents in her Jacksonville market, explains that the commission is agreed upon when the listing agreement is created. She says your real estate agent should be as upfront and transparent as possible, not only about the commission fee but also about what they will be doing in return for you and your home.

“Transparency is what we’re about,” Hill says. “So everything is talked about with the homeowners. Numbers are disclosed, and net sheets are provided so everyone is aware of what is being charged ahead of time.”

Curious as to why you’ll be on the hook for the buyer agent’s side as well? That’s to make homebuying more accessible, especially for first-time buyers, according to the National Association of Realtors (NAR). But the commission will typically be paid from the sale proceeds, so that’s why having an experienced real estate agent that gets you a strong offer is so important.

What’s the Average Colorado Real Estate Commission Rate?

Jacob Bourne — Thu, 25 May 2023 16:34:53 +0000

Most real estate agents in Colorado get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Colorado?

In this post, we’ll help you determine how much commission you might pay on your Colorado home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Colorado?

According to top real estate Robert Hryniewich, who has 19 years of industry experience in the state, you can expect to pay between 5.6% and 6% in agent commissions when selling a home in Colorado, with some variation based on location within the state. On a property worth the current statewide median home sale price of $565,000, that amounts to between $31,640 and $33,900 in commission costs.

“Over the past two to three years, the commission had dropped below 6% due to an influx of agents who were working for as little as 1%,” says Hryniewich. However, he noted that the rates have picked back up again, largely due to the complexity of selling a home in today’s market. “These days, you can’t just stick a sign in the yard and have your house sell,” he added.

Using an overall statewide average of 5.8%, here’s a breakdown of how much you might pay in real estate commissions based on what a home sells for in six of the largest cities in Colorado:

Colorado city	Median home price	Typical commission at 5.8%
Denver	$578,445	$33,550
Colorado Springs	$468,613	$27,180
Aurora	$478,460	$27,751
Fort Collins	$560,825	$32,528
Lakewood	$563,603	$32,689
Thornton	$530,635	$30,777

Median home prices calculated from multiple public sales data sources.

Still curious about commission rates in Colorado? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

As Hryniewich explains, “The shifting landscape of real estate has led to adjustments in the standard commission rate in Colorado. While 6% has traditionally been the standard commission rate for real estate transactions in the state, the figure has experienced some fluctuations in recent years.”

What’s the Average Maryland Real Estate Commission Rate?

Hayley Abernathy — Thu, 25 May 2023 16:31:56 +0000

Most real estate agents in Maryland get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Maryland?

In this post, we’ll help you determine how much commission you might pay on your Maryland home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Maryland?

According to James Weiskerger, a top Baltimore real estate agent with more than two decades of experience, you can expect to pay between 5% to 6% in agent commissions when selling a home in Maryland — with some variation based on location within the state and depending on the range of services provided. On a property worth the current statewide median home sale price of $380,000, that amounts to $15,200–$22,800 in commission costs.

Weiskerger further explains the range this way: “You have various brokerages — like discount brokerages — that probably charge around four and a quarter (percent), and you have full retail brokerages that offer a lot more services, that their commission is probably around six percent.”

Using an overall statewide average of 5.5%, here’s a breakdown of how much you might pay in real estate commissions based on what a typical home sells for in seven of the largest cities in Maryland:

Maryland city	Median home price	Typical commission at 5.5%
Baltimore	$206,500	$11,358
Frederick	$429,900	$23,645
Gaithersburg and Rockville	$535,278	$29,440
Bowie	$415,000	$22,825
Hagerstown	$295,250	$16,239
Annapolis	$445,000	$24,475

Median home price source: Maryland Realtors®, mdrealtor.org.

Still curious about commission rates in Maryland? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission in Maryland is typically paid by the home seller, and from that commission, the seller’s agent typically offers what’s sometimes called a “buyer’s coop fee” — a percentage that will then be paid to the buyer’s agent upon the deal’s closing.

“That fee ranges between two percent on the really low end to as high as three-and-a-half percent,” Weiskerger explains. “It just depends on the property they’re selling, and if they’re trying to incentivize the buyer’s agent to bring the buyer.”

By state law, listing agents are required to say on a home’s MLS listing whether or not a buyer’s agent will receive a commission via a buyer’s coop fee and how much that would be. That way, the agent knows when taking a client to a house how much he or she might make from the transaction.

Do buyers ever pay commission fees?

Yes, that could happen, although it’s not typical. To ensure that they are compensated fairly — even if a listing agent offers a very low buyer’s coop fee — a buyer’s agent may ask a buyer to sign a buyer agency agreement stating that the buyer’s agent will be guaranteed a certain percentage of the sales price no matter what.

For example, “Let’s say (the seller is) only paying one percent,” illustrates Weiskerger, “but your buyer agency agreement says that the buyers owe three percent (to the buyer’s agent). In that case, the buyers will know in advance that they would owe (their agent) two percent of the sales price if they bought that particular house.”

When is the commission paid?

The real estate commission will automatically be deducted from the sale proceeds at the time of closing. Until then, you won’t owe any money to the real estate agent. In short, your listing agent typically doesn’t get paid unless they sell your home. And an experienced, motivated agent will ultimately help you walk away with higher proceeds.

If you’re curious about how much you might make on your home sale after paying commissions and other selling costs, try our Net Proceeds Calculator.

Does the agent get to keep the full commission?

Although the seller typically pays the entire commission, the listing agent, who is representing the seller in a transaction, doesn’t keep it all. Part of their commission will go toward marketing your property with professional photography, open houses, offline marketing, and more.

The commission is also typically split 50/50 with the buyer’s agent to compensate them for bringing a buyer to the sale and coordinating the buy-side of the transaction. So, around 2.5% to 3% goes to the listing agent, and the other 2.5% to 3% goes to the buyer’s agent.

Both the listing agent and the buyer’s agent will then share a percentage of their commission with their sponsoring broker.

These split rates can vary; however, it’s common for the listing agent to give their broker anywhere from 30%-50% of their commission, depending on the agent’s level of experience, their market size, and brokerage agreement.

“So every agent in Maryland has to work for a brokerage,” explains Weiskerger, “and every brokerage has different arrangements with their agents and what they provide. So, at our brokerage…, we take a portion of their commission. However, we offer a tremendous amount of support, marketing, and mentorship.”

There are brokerages in Maryland that take little or even none of the agent’s commission, he adds, “but they don’t offer you (the agent) really anything — they just give you maybe an office at a shared space. You don’t get admin support, you don’t get marketing, you don’t get mentorship. And so it just kind of depends on where the agent works that dictates how much money they’re gonna get after the commission’s paid.”

How is the commission divided between agents?

The commission that’s paid by the seller will typically be split among each agent and the brokerages through which they hang their real estate license. Let’s say you sell your home for $380,000 with a 5.5% commission rate. You pay a commission of $20,900, and each agent has a 70/30 split agreement with their brokerage. Here’s how that might look:

Listing agent: $7,315 (70% of their $10,450 commission share)
Listing broker: $3,135 (30% of their $10,450 commission share)
Buyer’s agent: $7,315 (70% of their $10,450 commission share)
Buyer’s broker: $3,135 (30% of their $10,450 commission share)

Are Maryland commission rates negotiable?

You can negotiate real estate agent commission rates, but don’t be surprised if your agent holds firm on how much they charge. A Consumer Federation of America report found that only 27 percent of agents are willing to negotiate the commission.

“There’s a little flexibility” with the commission rates, says Weiskerger. For example, “if you have a really savvy seller who knows their house is in a really desirable area and is gonna sell really fast, and maybe some of the extras — like staging or doing work to the property — are not necessary. Maybe they can negotiate from paying six percent to five percent.”

One reason agents often don’t lower their rate is that it may reduce their ability to negotiate a higher sale price for the seller. An agent’s services often include photography and pricing analysis, so a lower commission could also translate into a smaller marketing budget for your property, an inaccurate list price, fewer home promotions, and a lower likelihood of selling.

What’s the Average Minnesota Real Estate Commission Rate?

Melissa Holtje — Thu, 25 May 2023 16:20:03 +0000

Most real estate agents in Minnesota get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Minnesota?

In this post, we’ll help you determine how much commission you might pay on your Minnesota home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Minnesota?

According to Paul Augustinack, a top real estate agent in the Brainerd, Minnesota area, you can expect to pay around 6%, possibly up to 7%, in agent commissions when selling a home in Minnesota, with some variation based on location within the state. On a property worth the current statewide median home sale price of $320,000, that amounts to $19,200 in commission costs.

Here’s a breakdown of how much you might pay in real estate commissions based on what a typical home sells for in six different regions within Minnesota:

Minnesota Region	Median home price	Typical commission at 6%
Twin Cities (Minneapolis, St. Paul)	$357,500	$21,450
North Central (Brainerd)	$245,000	$14,700
Southeast (Rochester)	$270,000	$16,200
Southwest (Pipestone, Worthington)	$168,000	$10,080
Upper Valley (Granite Falls, Benson)	$114,000	$6,840
Headwaters (Bagley, Baudette)	$233,000	$13,980

Regional median home prices taken from the latest Minnesota Realtors market report.

Still curious about commission rates in Minnesota? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller. The seller’s agent will then share a portion of the commission with the buyer’s agent. We’ll discuss this split in greater detail below.

What’s the Average Wisconsin Real Estate Commission Rate?

Melissa Holtje — Thu, 25 May 2023 16:13:41 +0000

Most real estate agents in Wisconsin get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Wisconsin?

In this post, we’ll help you determine how much commission you might pay on your Wisconsin home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Wisconsin?

According to Greg Dallaire, a top real estate agent with 17 years of experience in the Green Bay area, you can expect to pay between 5%-7% in agent commissions when selling a home in Wisconsin, with some variation based on location within the state. On a property worth the current statewide median home sale price of $267,500, that amounts to $13,375–$18,725 in commission costs.

Using an overall statewide average of 6%, here’s a breakdown of how much you might pay in real estate commissions based on what a typical home sells for in six cities throughout Wisconsin:

Wisconsin city	Median home price	Typical commission at 6%
Madison	$400,000	$24,000
Milwaukee	$223,000	$13,380
La Crosse	$259,450	$15,567
Marquette	$215,000	$12,900
Green Bay	$225,000	$13,500
Eau Claire	$275,750	$16,545

Median home price source: Wisconsin Realtors Association

Still curious about commission rates in Wisconsin? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

Dallaire says, “In the Wisconsin residential listing contract, it’s got the commission basically broken down where there’s the total commission and then the part of that which is utilized to promote a buyer’s agent to cooperate and bring a buyer.”

What’s the Average Connecticut Real Estate Commission Rate?

Courtney DuChene — Thu, 25 May 2023 16:08:59 +0000

Most real estate agents in Connecticut get paid through commissions. Commissions are typically calculated as a percentage of a property’s sale price, though some brokerages will charge a flat fee. The average agent commission rate nationwide is 5.8% of the home sale price, according to HomeLight’s real estate transaction data of thousands of home sales each year. But how does that compare to the average real estate commission rate in Connecticut?

In this post, we’ll help you determine how much commission you might pay on your Connecticut home sale, and what options are available to earn the highest proceeds possible.

What’s the average real estate commission in Connecticut?

According to top-performing real estate agent Jessica Boswell of Bristol, you can expect to pay about 5% in agent commissions when selling a home in Connecticut, with some variation based on location within the state.

On a property worth the current statewide median home sale price of $330,000, that amounts to $16,500 in commission costs.

Here’s a breakdown of how much you might pay in real estate commissions based on local commission data and what a typical home sells for in six of the largest cities in Connecticut:

Connecticut city	Median home price	Avg. commission rate	Typical commission
Bridgeport	$280,000	4.86%	$13,608
Manchester	$260,000	5.03%	$13,078
Waterbury	$220,000	5.02%	$11,044
East Hartford	$240,000	4.77%	$11,448
Danbury	$418,000	4.99%	$20,858
Middletown	$287,000	5.01%	$14,378

Median home prices calculated from multiple public sales data sources.

Still curious about commission rates in Connecticut? Here are the answers to common questions about real estate agent commissions:

Who pays real estate commission fees?

The commission is typically paid by the home seller, and the seller’s agent will then split the commission with the buyer’s agent.

As Boswell explains, commissions tend to be lower in Connecticut, with some agents struggling to get a 6% commission to split between the listing and buyer agent. Sometimes, sellers might ask their listing agents to set the commission rate when they list the property in the MLS.

More expensive properties located along the shore and those that are located in the Northeastern part of the state tend to have lower commissions. “An extremely high price point is more subject to a lower commission,” she says. “Sellers would probably haggle those the most.”

7 of the Top We Buy Houses for Cash Companies in Fort Lauderdale

Adrian E. Hirsch — Thu, 25 May 2023 11:00:50 +0000

We Buy Houses companies in Fort Lauderdale make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Whether you’re leaving Fort Lauderdale to trade in the high-energy tourist mecca for a more low-key, family-friendly town or to pursue your dream job away from the surf and sand, sometimes you need to sell in a hurry.

If you need to sell your Fort Lauderdale home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Fort Lauderdale house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

Should I Sell My House Now or Wait?

Max Efrein — Thu, 25 May 2023 11:00:24 +0000

Making the decision to sell a house is hard enough, but knowing if now is the time to list it is a whole other level of calculus.

Though the market has cooled considerably in recent months following a sizzling hot streak, home prices remain relatively high. However, there has been talk of a possible recession in 2023, which is making some homeowners nervous about the future of their investment.

While the market has a significant impact on the sale of your home, it’s not the only factor to consider. It’s also important to evaluate your own personal situation and reasons for selling.

To provide you with some guidance, we’ve consulted with top real estate experts and researched the best ways to determine if now is a good time for you to sell your home, or if you might benefit from waiting.

When to sell a home (9 common scenarios)

Typically, you should consider selling now if the circumstances provide favorable selling scenarios. Each scenario in our list below can count as a positive point toward your decision to sell. The right situations might include:

1. If mortgage interest rates are low

Historically, sellers will find the greatest success when interest rates are low and more buyers are on the hunt. So, today’s higher rates will likely play a role in your decision of whether to sell your house now or wait.

As of May 2023, average mortgage rates for a 30-year fixed loan stood at 6.39%, according to the Freddie Mac Primary Mortgage Market survey.

While the recent rate increases may seem significant, the current rate is actually still under the long-term average of 7.74%, according to Freddie Mac records going back to 1971.

2. If housing inventory is low

When supply is low and demand is high, selling your home can be more profitable.

The total inventory of for-sale homes in the U.S. remains relatively low. In April 2023, the housing inventory was estimated to be at 2.9 months of supply. A 6-months supply is representative of a balanced market.

According to a Spring 2023 HomeLight survey of over 800 top real estate agents across the country, only 29% percent of agents say inventory is rising, down from 53% in the previous quarter.

6 of the Top We Buy Houses for Cash Companies in Austin

Madeline Sheen — Thu, 25 May 2023 11:00:15 +0000

We Buy Houses companies in Austin make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

You might be leaving the Austin area for a new job with an imminent start date. Or maybe you’re facing a financial deadline or an unexpected life change and need to move right away. Or perhaps you’ve just inherited an Austin bungalow from your grandparents that needs more work than you are willing to pay for — you’d like to sell it fast.

If you need to sell your Austin home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much an Austin house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

6 of the Top We Buy Houses for Cash Companies in Los Angeles

Evelyn Waugh — Thu, 25 May 2023 11:00:05 +0000

We Buy Houses companies in Los Angeles make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Perhaps you need to leave Southern California fast for an employment opportunity in another state. Or maybe you’re facing an unplanned life change or a major financial challenge with an impending deadline. Or you may need to cash out an inherited property to settle an estate. Whatever your reasons, selling your LA home quickly to a We Buy Houses for Cash company could be the best solution.

However, before you request a cash offer, it’s important to understand how much an LA house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

How to Sell a House by Owner in Colorado

Evette Zalvino — Wed, 24 May 2023 11:00:50 +0000

When the time comes to move, some tenacious homeowners in Colorado are eager to take over the reins of their home sale and figure out how to sell a house by owner.

Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. While FSBO can work, it does come with some risks, including the possibility of selling your house for less than market value.

In this guide on how to sell a house by owner in Colorado, we’ll cover what can be the most difficult aspects of selling by owner, including the steps that might be harder than you think. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals who can help you command top dollar and provide a low-stress selling experience.

Fast Facts for Selling Real Estate in Colorado

Median home sales price:	$565,000 (April 2023)
Average days on market:	47 (April 2023)
“For Sale” signs:	Generally allowed, but check local regulations for permitting, sizing, placement, and other regulations.
Real estate transfer taxes:	0.01%
Real estate attorney required?	Real estate attorneys are not considered essential for closing in Colorado. However, it’s almost always advisable to work with a real estate attorney when selling FSBO to avoid potential legal risk.

Quick FSBO overview

FSBO is a method of selling your home without the involvement of a listing agent. In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent such as pricing the home, arranging showings, and negotiating the deal.

In an agent-assisted sale, the seller typically pays a commission amounting to around 6% of the sale price, which is then split 50/50 with the buyer’s agent. That 6% is deducted from the seller’s proceeds at closing. By selling FSBO, a seller can eliminate the cost of the listing agent commission (so around 3%), though they may still need to offer a buyer’s agent commission.

Finally, a FSBO sale does not mean that a seller won’t need any professional assistance. Most people who sell by owner will need to hire an attorney to review and prepare key documents and make sure paperwork is filled out properly, such as the seller’s disclosures and purchase contract.

How to Sell a House by Owner in Arizona

Melissa Holtje — Wed, 24 May 2023 11:00:47 +0000

When the time comes to move, some tenacious homeowners in Arizona are eager to take over the reins of their home sale and figure out how to sell a house by owner.

In this guide on how to sell a house by owner in Arizona, we’ll cover what can be the most difficult aspects of selling by owner, including the steps that might be harder than you think. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Arizona. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals who can help you command top dollar and provide a low-stress selling experience.

Fast Facts for Selling a House in Arizona

Median sales price:	$425,000 (April 2023 for Phoenix metro)
Average days on market:	74 (April 2023)
For Sale signs in the yard:	Generally allowed, but regulations vary by jurisdiction concerning size, placement, and other limitations.
Disclosures:	Arizona law requires sellers to disclose material facts about the property through the Residential Seller Disclosure.
Is a real estate attorney required?	Real estate attorneys are not considered essential for closing in the state of Arizona. But hiring an attorney when selling by owner is almost always advisable in order to avoid an abundance of legal risk.
Real estate transfer taxes?	$2 flat fee on the entire transaction (so basically nothing!)

Quick FSBO overview

FSBO is a method of selling your home without the involvement of a listing agent. In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent such as pricing the home, arranging showings, and negotiating the deal.

5 of the Top We Buy Houses For Cash Companies in New Jersey

Melissa Holtje — Wed, 24 May 2023 11:00:42 +0000

We Buy Houses companies in New Jersey make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Maybe your company is transferring you from Atlantic City to Las Vegas, and you don’t have time for a lengthy home sale process. Or perhaps your parents are ready to trade in the snowy winters of Newark for the endless summers of Fort Lauderdale, but they can’t make renovations on their aging row house.

If you need to sell your New Jersey home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a New Jersey house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

How to Sell a House by Owner in Florida

Melissa Holtje — Wed, 24 May 2023 11:00:41 +0000

Despite a slowing of the US housing market, Florida remains a place people want to move to. Though prices may have declined slightly from their summer 2022 peak, they’re still 2% higher than a year earlier, giving homeowners an increase in equity.

With such impressive sales figures, some Florida sellers may be curious about how to sell a house by owner in Florida — a decision that could help them save on agent commissions.

While the method can work, it does come with some risks, including selling your house for less than it’s worth.

In this guide on how to sell a house by owner in Florida, we’ll cover what can be the most difficult aspects of selling by owner, including the steps that might be harder than you think. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Florida. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals who can help you command top dollar and provide a low-stress selling experience.

Fast Facts About Selling a House in Florida

Average home sale price in Florida:	$576,226 (April 2023)
Average time on market:	31 days (March 2023)
Can FSBO sellers post a yard sign?	Yes
Is a real estate attorney required?	Real estate attorneys are not considered essential for closing in the state of Florida. But hiring an attorney when selling by owner is almost always advisable in order to avoid an abundance of legal risk.
What are required disclosures in the state?	Known issues, HOA, property tax history, among others. See the Florida Realtors Seller Property Disclosure Form for more details.
Real estate transfer taxes?	$0.70/$100 with some variances

Quick FSBO overview

FSBO is a method of selling your home without the involvement of a listing agent. In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent such as pricing the home, arranging showings, and negotiating the deal.

6 of the Top We Buy Houses for Cash Companies in Kansas City

Meaghan Hunt — Wed, 24 May 2023 11:00:28 +0000

We Buy Houses companies in Kansas City make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Whether you are looking to leave KC for suburban amenities or to return to an office headquartered elsewhere, you may be looking to uproot on a tight timeline.

If you need to sell your Kansas City home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Kansas City house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Kansas City “we buy houses” companies should not be considered an endorsement.

How to Sell a House by Owner in Texas

Erika Riley — Wed, 24 May 2023 11:00:27 +0000

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner.

In this guide on how to sell a house by owner in Texas, we’ll cover what can be the most difficult aspects of selling by owner, including the steps that might be harder than you think. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent.

Note: Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Texas. Or — in the event you’d prefer to work with a real estate agent — HomeLight would be happy to introduce you to highly-rated professionals who can help you command top dollar and provide a low-stress selling experience.

Fast Facts About Selling a House in Texas

Median sales price	$334,400 (February 2023)
Average days on market	56 days (February 2023)
Are FSBO yard signs allowed?	Regulations governing signs, including sizing and placement, are determined at the local level.
Is a real estate attorney required?	Real estate attorneys are not considered essential for closing in Texas. However, it’s almost always recommended to involve the expertise of an attorney when selling FSBO to prevent a potential abundance of legal risk.
What are sellers required to disclose in Texas?	The seller’s knowledge of the condition of the property must be documented in the Texas Real Estate Commissions’ Seller’s Disclosure Notice
Real estate transfer taxes?	None

Quick FSBO overview

How to Sell a House to a Friend So No One Feels Cheated: 11 Do’s and Don’ts

Adrian E. Hirsch — Wed, 24 May 2023 11:00:19 +0000

Whether you have a mountain cabin, beach bungalow, ski slope condo, or beautiful home anywhere in the country, you’ve probably heard more than one visitor exclaim: “Wow! This place is gorgeous! If you ever decide to sell, please let me know.”

Well, that day has come. And, it turns out your friend is serious about buying your home, and you’re feeling great that you don’t have to find a buyer on the open market.

At the same time, there are innate challenges and financial aspects to weigh. You don’t want to face regrets later on about how much you sold the house for or how the deal came together — after all, it’s still a major transaction rife with emotion.

With these potential difficulties in mind, follow these 11 do’s and don’ts on how to sell a house to a friend if it’s something you’re considering.

It’s always tougher to negotiate with a friend. If you don’t have professionals involved, you can make a mistake that could cost you later.

Edward Kaminsky Real Estate Agent

Close

Edward Kaminsky Real Estate Agent at The Kaminsky Real Estate Group

Currently accepting new clients

Years of Experience 36

Transactions 1188

Average Price Point $2m

Single Family Homes 796

How to Get Your House Appraised in 7 Steps

Dorothy O'Donnell — Tue, 23 May 2023 11:00:28 +0000

It’s not a bad time to get your house appraised. Home values across the nation soared between 2020 and 2022. Even with higher interest rates reducing the number of homes being sold, the resulting decline in prices has not been enough to erase those gains. If you’re curious about how your home value has weathered the ups and downs of the market over the past few years — especially if you fall into one of the categories below — it may be time to consider an appraisal. Follow these steps on how to get a home appraisal in preparation of selling or whatever real estate needs you may have.

How a Free Home Appraisal Works

Valerie Kalfrin — Tue, 23 May 2023 11:00:09 +0000

Looking to get a free online home appraisal? Whether you’re looking to sell soon, considering a home equity line of credit, or just plain curious, your home value is an important part of your overall financial picture.

Many bank, lender, and real estate websites provide online home value estimator tools (also known as AVMs or automated valuation models), which are convenient to use.

While the results of these tools can be limited in accuracy, sometimes you don’t want (or need) to pay up to $500 when you’re just in “planning mode” or satisfying curiosity.

Whether you plan to remodel the kitchen, are on the fence about “Should I sell my house now or wait?”, or are simply interested in getting an estimate of value, let’s take a look at where to get a free home appraisal and the degree to which these tools are helpful.

Why home value matters

For most demographics, a home is not only a place to live but also the most valuable asset on their household balance sheet.

How much your home is worth will likely affect the size of your retirement fund later in life, your ability to afford a larger home, and the amount of equity you can borrow for renovations.

Recent years have been especially kind to U.S. home values. The average American homeowner saw an equity boost of 7.3% in the fourth quarter of 2022 from a year earlier, according to a data report from property analytics company CoreLogic.

As the persistent high inflation hits Americans at the gas pump and in the grocery store, rising home values have been a silver lining for the nation’s homeowners.

Reasons to get a free home appraisal

A free home appraisal — which is actually not an appraisal but an online home value estimate — can’t replace the opinion of a professional appraiser and is unlikely to be as accurate as a real estate agent’s CMA (comparative market analysis). However, checking your home value online can be helpful in a variety of scenarios:

You’re looking to sell soon

People thinking about listing their home in the near future may use a home value estimator as a starting point. If it’s been five, 10, or 15 years since you purchased, you may be unfamiliar with current trends and need to get re-oriented with the market. An estimate of value can also help you run some back-of-the-napkin math on your potential net proceeds from the sale after accounting for your outstanding mortgage balance and the fees associated with selling.

You’re on the brink of 20% equity

Generally, you can request to cancel PMI (private mortgage insurance) when you reach at least 20% equity in your home. An online estimate can give you an idea of whether you’re in striking distance and if it’s time to contact your loan servicer about whether you qualify. Keep in mind that your eligibility will also depend on factors like how much you still owe on the loan and your payment history.

Ready to Buy Your Dream House? How to Find a Buyer’s Agent

Josephine Nesbit — Tue, 23 May 2023 11:00:03 +0000

You’re ready to purchase a home, but first you’ll need to figure out how to find a buyer’s agent. Buying a home is one of the biggest financial decisions you’ll make in your lifetime, and when you aren’t sure who’s going to be holding your hand, especially as a first-time homebuyer, it can feel daunting. You’ll need to do your research and interview a few buyer’s agents to make sure it’s a good match.

It might seem like a good idea to hire someone you know — like a family or friend who happens to have their real estate license — but that decision could backfire. You need an experienced and specialized professional: a buyer’s agent.

Working with just any real estate agent isn’t necessarily bad, but there is a difference between a regular agent and an exclusive buyer’s agent.

Agent Ken Mucha, an Accredited Buyer’s Specialist who works in Bend, Oregon, emphasizes the importance of working with an exclusive buyer’s agent.

“I think the critical thing is that they’re more highly specialized and razor-focused in spending time and resources only with buyers to find them their dream home at the best possible price and terms,” says Mucha.

If you’re thinking of buying a home, and especially if you’re a first-time homebuyer, you need a professional who’s willing to jump into the trenches with you. We spoke with the experts and put together this guide on where and how to find a buyer’s agent who has your best interests at heart.

How to Sell a House That Needs Work Without a Complete Overhaul

Valerie Kalfrin — Mon, 22 May 2023 11:00:59 +0000

Selling a home involves putting it out there to attract buyers. Yet if your patchy lawn and peeling paint look shabby compared to the chic walkway lights and lush landscaping down the street, you might feel like hiding it. So, how do you market your house, stage a house, take real estate photos, or amp up curb appeal? If you’re wondering how to sell a house that needs work, we’ve got tips from real estate pros who have seen houses in various conditions to get you to the closing table with confidence.

“Most of the time, sellers think their house is in worse condition than it actually is because they’re living in it and seeing it every day,” says Eli Joseph, a top real estate agent in Hartford County, Connecticut. “They just need assurance that the house is going to sell and that someone is going to buy it in that condition.”

Let’s take a bird’s-eye view of selling a fixer-upper or an old house, then drill down into what attracts buyers for these types of properties.

Learn more about your buyer pool

It’s natural to wonder how a home that needs TLC can compete with turnkey properties, especially when the median existing-home sales price has soared in the last few years.

Maybe you haven’t maintained your home regularly or you’ve inherited a house and want to sell it. Regardless, your house doesn’t have to be perfect. It just has to show the potential for buyers to make money, build equity, or obtain the lifestyle they want within their budget.

Possible buyer #1: The real estate investor

What’s a real estate investor?

Real estate investors can be individual house flippers, small or large-scale rental landlords, or even house-buying companies such as We Buy Houses.

You also may have heard of tech-enabled cash buyers such as Opendoor, Offerpad, and HomeLight (our Simple Sale platform connects sellers with competitive cash offers) that use technology to value homes and make near-instant offers.

How do they operate?

These buyers usually pay with all cash and prefer to buy homes off-market. Many will purchase homes as is, meaning the seller isn’t expected to do any work to improve the home’s current condition.

For this type of buyer, a purchase is generally all about how the numbers shake out since they don’t plan to live in the property. Would the costs of buying and rehabbing the property allow the buyer to resell it at a decent profit? Or, alternatively, would the cash flow cover their expenses should they aim to rent the property?

What do they look for in a home?

Daniel Close of Louisville, Kentucky, a real estate investor for 15 years, says his main calculation is a home’s value after the cost of repairs. In Louisville’s starter-home range of about $150,000 to $200,000, he aims for 80% after-repair value, or ARV. In general, investors offer about 70% of a property’s ARV for a house they plan to flip.

Close also considers how the home might appeal to future buyers. “I look at the neighborhood a lot. Is it trending in the right direction or the wrong direction? What’s this neighborhood going to look like in 5 years or 10 years?” he says. “Room layout is a big one for me. Is the flow appropriate? Do I have to knock down walls, or redo a bathroom? … Do I need to move the kitchen or move the bathroom? That’s a lot of money.”

Possible buyer #2: The bargain hunter

Who are the bargain hunters?

This type of buyer would love to live in a specific location but hasn’t been able to land their dream home, either because they can’t afford the average home prices there or because someone else — like a cash buyer — has snapped it up first. This buyer may be a first-timer who is unable to tap into existing equity to buy a new home or a DIYer who isn’t afraid of a house that needs some TLC.

How do they operate?

While most buyers would prefer a move-in ready home over one that requires renovations, deal-hunters, by contrast, go against the grain. They are likely to ask their real estate agent to share listings of a lower price point for the area that may require some work.

What do they look for in a home?

A bargain hunter is looking for the potential to create their dream home on a limited budget. A house that needs cosmetic updates and some elbow grease to be move-in ready is OK with a deal-hunter, so long as it has decent bones and a location they love.

Close to 80% of homes that went on the market last year exceeded the average buyer’s budget. That means more buyers are having to sacrifice their expectations for a home’s condition to make homeownership a reality.

“They just need the vision of what can be done and how it can be done,” says Joseph.

Process of Selling a House for Cash in 9 Steps

Richard Haddad — Mon, 22 May 2023 11:00:56 +0000

If you need to sell your home quickly, finding a cash buyer for your house may be the solution you’re looking for. In this post, we’ll show you the process of selling a house for cash.

In former days, the decision to sell your house for cash was primarily associated with a neglected or distressed property whose value had fallen, leaving homeowners with few options.

While a cash offer can still benefit a seller who can’t afford repairs or is facing challenging property issues, cash sales have expanded beyond the distressed homes market, as sellers discover the ease and benefits of new technologies and instant sale online platforms. But for many sellers, the process of selling a house for cash is unclear.

“A lot of sellers think selling a house ‘for cash’ means the buyer is going to show up with a briefcase full of money for them, but that’s not the case,” says Lucas Machado, a real estate investor and owner of House Heroes, LLC.

A “cash offer” simply means the buyer has cash readily available to pay for the home, and the offer is not dependent on being able to secure a mortgage. But that doesn’t make the process of selling your house for cash any less mysterious if you’ve never done it.

How long does it take to sell a house?

Transaction speed is typically the primary sought-after benefit of finding a cash buyer for a house. How long it takes to sell a house depends on a number of factors, including the type of home you’re selling, its size and age, property conditions, location, and current market conditions.

According to recent Federal Reserve economic data, homes can spend a median of 49 days on the market (DOM) — meaning the time between when a house is listed and when it goes under contract with a buyer. For home sellers working with a financed buyer, you’ll need to factor in an additional 42 days on average to close a purchase loan, according to data from Ice Mortgage Technology.

This means from list to close, you might need to plan for more than three months to complete your home sale transaction. And the 97-day average estimate does not account for your time spent preparing the property to be placed on the market.

Selling a home for cash can be a much faster process; allowing you to close a sale in as little as 8 to 16 days. Depending on your situation and selling objectives, a cash offer might be the solution you’re looking for. Let’s take a look at the process of selling a house to a cash buyer.

9 steps to selling your home for cash

In this section, we walk you through the process of selling a house for cash, step by step, so you can make an informed decision about whether it’s right for you.

1. Check on the value of your home

Cash buyers provide a variety of conveniences to sellers, including a shorter closing, increased level of certainty, and the option to sell “as is” and save money on repairs.

However, cash offers tend to be lower than financed offers. So while you can expect to receive somewhat of a discount on price — how much so will depend on market competition and the state of your home — you should get a ballpark idea of your home’s current fair market value, so you can recognize if you’re getting lowballed.

Homeowners can request a free home value estimate online thanks to the development of algorithmic automated valuation model (AVM) pricing tools. These online tools gather data from a variety of places, including county assessors, recorder’s offices, real estate property listing websites, title companies, and user-generated questionnaires to provide near-instant property value estimates.

While an online valuation won’t deliver the same level of accuracy as a professional appraisal or a real estate agent’s comparative market analysis, requesting one is quick — not to mention often completely free. HomeLight’s Home Value Estimator is a good place to start.

2. Find a cash buyer and request an offer

You know your home’s worth, and you’re ready to search for a qualified cash buyer. Below are some of the most common cash buyer options:

Types of cash home buyers

Franchisors: These are real estate investment companies that franchise their model under their company name in multiple locations, such as We Buy Ugly Houses or Express Home Buyers. They usually buy homes “as is” and offer only about 50% to 70% of a home’s after-repair value to account for the amount of work the house needs.

iBuyers: The typical iBuyer uses an automated valuation model (AVM) to generate a competitive offer closer to market value on a home that needs only minimal work. Because of that, they tend to pay more than franchisors. Most charge a service fee of about 5%-6%, similar to an agent’s commission. Some well-known iBuyer companies include Simple Sale, Opendoor, and Offerpad.

With HomeLight Simple Sale, simply fill out an easy questionnaire about your property and receive a no-obligation cash offer for your home within a week. This online platform matches sellers with network buyers who use a variety of investment strategies and buy a wide array of properties, including homes that need a little or a lot of work. Simple Sale and HomeLight have a track record of satisfied customers. With a cash buyer platform such as HomeLight’s Simple Sale, you can skip the repairs and showings and sell your home in as little as 10 days.

House flippers: House flipping companies such as “We Buy Houses” purchase homes in need of repair, renovate them, and then sell them quickly as turnkey properties. They’re looking for a bargain, so they can maximize profits. Flippers generally follow a 70% rule, which stipulates to offer no more than 70% of a property’s after-repair value (ARV). Estimated repair costs are typically subtracted from the 70%.

Buy-and-hold investors: This type of buyer buys a home and then converts it into a rental property. They may sell the property once it has appreciated in value enough, as part of a long-term investment strategy. Unlike flippers, buy-and-hold investors will calculate the rental income potential of a property, making it difficult to identify an offer range. Location and condition will play big roles in the offer you receive.

Trade-in companies: A trade-in company can help you buy, and move into, your new home before you sell your current home. Think of it as a swap that relieves you from paying two mortgages while waiting for your house to sell. Some examples of “buy before you sell” services include Knock Home Swap, Orchard, and Ribbon. These companies look for homes in good condition and tend to make cash offers closer to market value.

Consult with a top real estate agent

Maybe requesting a cash offer online right off the bat isn’t your style. You’d like an advisor to walk you through the process. No problem!

You can ask a knowledgeable real estate agent experienced in cash sales for a cash buyer recommendation. Many agents are active in their local investor community and have an inside track to finding cash buyers.

Indar Lange, the owner of Honolulu-based Our Home Investments, Hawaii’s largest home-flipping company, says 60%-70% of his cash investments are the result of his relationships with agents. “We work with multiple agents who know we can buy for cash, including homes no one wants.”

3. Evaluate the price and terms of your offer

Evaluating a cash offer can be tricky. There’s no one-size-fits-all formula to calculate the strength of an offer. And there are other factors to weigh besides the amount of profit you’ll make.

Here are some key things to keep in mind when assessing an offer:

Your home’s condition: If your house is in great shape, Travis Steinemann, a real estate investor and founder of BuyHousesBR.com, says you can look at comparable properties that have sold recently in your area with a similar size and level of finish, and then subtract the agent’s commission and throw in whatever discount you feel the benefits are worth.

“That will depend on your situation,” Steinemann shares from his experience working with a variety of sellers. “Someone who is going through a foreclosure or who has a vacant house may value the speed and benefits of cash more than someone who just wants a bigger house.”

If your house needs work, he suggests taking the approximate value of updated houses in your area and subtracting what it would cost to get your house in that condition. Then deduct the commission, subtract the investor profit (usually 15%), and you will arrive at a fair price.

Terms (it’s not just about the price): Price is one thing, but not all cash offers will offer sellers the same terms either. Read the fine print to determine which steps the buyer is requesting to take before closing. For example, some investors will purchase the home “as is” but still require an inspection; some will offer to waive the inspection entirely, though it may mean accepting a reduced price to hedge the investor’s risk of finding major issues with the property.

While the use of all cash eliminates the need for a lender-ordered appraisal, some buyers may still request to have the house appraised before closing. What type of terms you can negotiate will depend on factors like the condition of your home and whether it’s a seller’s market. The fewer contract contingencies, the better (if you’re the seller).

Legitimacy of the offer: Before you move forward with the offer, you should review the following:

Does the buyer plan on depositing an appropriate amount of earnest money?
Does the buyer have a good track record of closing transactions?
Is the buyer using a standard contract? If not, will you need an attorney to review the terms of the contract?

You should also request proof of funds to confirm that the buyer actually has the available cash to complete the purchase. This verification can come in the form of a certified bank letter with the official letterhead and should have the signature of the authorized bank personnel.

Pro tip: Top real estate agents recommend going a step further to confirm that the proof of funds letter hasn’t been forged. It’s wise to call the buyer’s bank to verify that the funds are available.

4. Compare your offer to an agent’s CMA

When you’re considering a cash offer, there is real value in reaching out to a trusted real estate agent to do a comparative market analysis of your home. This advanced pricing tool calculates the market value of your home by pulling in details about nearby properties of a similar size and style that have recently sold in your area. An agent uses these sale prices as a benchmark to set a home’s list price.

As an alternative, you could also order your own home appraisal. “Although appraisals vary quite a bit and aren’t an absolute guarantee, it could help if you’re really struggling to pinpoint what would be a good price,” says Joanne McCoy, a top real estate agent in Lincoln, Nebraska. “At the end of the day, if you’re going to get less than market value, you have to decide whether the benefits outweigh that loss.”

5. Happy with the offer? Sign the contract!

After accepting a cash offer, it’s time to sign the contract. This part of the process is very similar to what happens during a conventional home sale. You can choose to sign and accept the contract or have an attorney review the terms. The contract, which is usually prepared by the buyer, should include the following key details:

Purchase price
Deposit amount
Any additional required fees
Closing date

6. Handle any unique requirements of the sale

Depending on the buyer and local laws governing residential home sales, there may be some tasks you are required to complete to keep the sale process moving forward.

For example, home sellers are usually required to disclose any known information about a property that could impact its value or the ability to live there safely. Every state has its own rules about what’s legally necessary to disclose, and you can ask a real estate attorney or representative from the title company to provide you with the right documentation for your locale.

There may also be extenuating circumstances that can lengthen the cash sale process a bit. For example, if the house is in a homeowners association, the HOA may require 30 days to process the buyer’s application.

Another aspect of a real estate closing is the municipal lien search. In some municipalities, it only takes a few days. In others, it can take up to three or four weeks.

7. Pass the home inspection

Some cash buyers require a home inspection. Others may purchase a home “sight unseen” or choose to waive the inspection.

“They would do this if they know their price is so good that anything wrong with the home is not an issue, or if they are planning on tearing down the home, and the land value is all that matters to them,” explains Steinemann. Those types of offers usually close very fast, in around seven to 10 days.

But buyers who opt for an inspection may renegotiate the final offer price to cover any required repairs, so it’s smart to anticipate and plan for more back-and-forth and a potential price reduction if an inspection is required for your sale.

8. Clear title

Title problems can delay your closing, and a title search will be necessary to close the sale regardless of whether your buyer is paying all cash or needs a mortgage. Unpaid taxes, a second mortgage, mechanic’s liens for past work done on the property, and outstanding alimony or child support are all common defects that can appear on your title and prevent the sale from moving forward until cleared.

You can get ahead of any surprises by ordering a preliminary title report and handling any disputes or paying off liens ahead of time.

9. Review and sign the closing documents

The closing will likely be held at the office of a title company, escrow company, or real estate attorney, depending on customs for your state. You’ll sign the same documents as you would in a traditional sale, such as the deed, settlement statement, and any property disclosures that haven’t already been completed. You can choose to have the title company draft the paperwork or let an attorney handle it.

‘We Buy Houses for Cash’ Signs: Possible Scam or Legitimate Offer?

Katie Licavoli — Mon, 22 May 2023 11:00:45 +0000

If you’re looking to sell your home fast, you’ve probably wondered about the signs, billboards, and internet ads for companies claiming to “buy houses in any condition for quick cash.”

These businesses make a lot of promises that can sound pretty good to a seller in a pinch; a fast and flexible closing process, no necessary repairs, and most appealing of all, a cash offer in hand. But are these promises too good to be true?

Victor Miskanic, a real estate agent with over 27 years of experience selling in Port St. Lucie, Florida, suggests that all sellers first weigh their options before deciding to sell to a We Buy Houses for Cash company.

“Go onto Zillow or Google and look at some reviews of local agents. Then, ask the agent how many sales they’ve had in the year and what their references are. Next, I recommend the seller ask the same questions to the people that would buy their house for cash,” suggests Miskanic. By speaking with an agent, you may find out your home is worth quite a prettier penny more than what the We Buy Houses company is offering.

Profit aside, there are other important details every seller should know about these companies before deciding to work with one. In this guide, we’re breaking down how these companies operate, offering tips for spotting potential scams early on, and discussing when a We Buy Houses for Cash company may or may not be advantageous to your selling situation.

Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of “we buy houses” companies should not be considered an endorsement.

How to Choose a Real Estate Agent for Selling Your Home: A 10-Step Checklist

Katie Licavoli — Mon, 22 May 2023 11:00:43 +0000

Selling a home is one of the most important financial transactions in your life. But if you’re selling for the first time, or if it’s been a while since you’ve dipped your toes into the deep end of the real estate market pool, you may be wondering how to choose a real estate agent for selling your house.

According to HomeLight’s data, the top 5% of real estate agents across the U.S. sell homes for as much as 10% more than the average real estate agent.

“This is the biggest asset that most people have. It’s going to be the biggest sale they ever have,” shares Mark Boyland, a top real estate agent in Scott’s Corner, New York, who’s ranked in the top 1% of real estate agents in the Hudson Gateway Multiple Listing System since 1995. “It’s important that [sellers] get the best representation when they’re going to do that.”

But with over 1.5 million real estate agents in the U.S., picking the right agent can feel, well, overwhelming. To help simplify the process and guide you through a smooth, profitable, home-selling experience, we’ve vetted expert advice from top real estate professionals and created this 10-step guide to picking your perfect agent.

1. Compare agents online

There’s no shortage of online resources for researching agents. But how can you ensure you’re choosing a top agent?

An easy way to find highly rated agents in your area is HomeLight’s free Agent Match tool. Our matching platform analyzes over 27 million transactions and considers an agent’s specialties and certifications, their years of experience, and their successful home sales in your neighborhood. Each agent is at the top of their field, so you can be confident that they’ll help you maximize your profit.

Each suggested agent is proven to outperform other agents in their area for properties similar to yours by measurable factors including:

High volume of home sales in your price range
High sale-to-list price ratio
Lower than average days on market
Top-rated client reviews

Once you’ve selected a few agents online, scope out their websites, social media, reviews, property listings, and more to see how they professionally market themselves. Their online presence may also provide a further look into their personalities and show whether they’re using current technology and trends.

For a deeper dive, Google each agent’s name and read additional reviews wherever you can. Notice which positive qualities are mentioned repeatedly and see how the agent responds to any negative reviews.

2. Get referrals from a trusted source

In a 2022 survey, the National Association of Realtors concluded 36% of sellers found their agent through referrals by family and friends, and another 27% stuck with an agent they had previously used when selling or buying a home.

So, do you know of any family, friends, or colleagues who have recently used an agent to successfully sell their house? What about anyone through your social network? Maybe they worked with an agent on your list, and you can score a firsthand recommendation.

6 of the Top We Buy Houses for Cash Companies in Scottsdale

Lori Lovely — Mon, 22 May 2023 11:00:30 +0000

We Buy Houses companies in Scottsdale make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

You may be facing an imminent move because of an unexpected job change. Or maybe you or a loved one has experienced a medical challenge or other life situation that requires relocation right away. Or perhaps you need to cash out an inherited property to settle an estate — you may be in a hurry to sell.

If you need to sell your Scottsdale home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much a Scottsdale house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Scottsdale “we buy houses” companies should not be considered an endorsement.

5 of the Top iBuyer Companies That Want to Buy Your Home in 2023

Valerie Kalfrin — Mon, 22 May 2023 11:00:27 +0000

Disclaimer: Information in this blog post is meant to be used for educational purposes only and provide a high level overview of some of the top iBuyer companies and programs. However, program details can frequently change. Please visit the iBuyer’s website for the most up-to-date information on each individual program’s fees, market coverage, business model, and more.

Selling a house is often a complete pain. When a potential buyer is scheduled to tour your home the next day, you can’t hit the sack. You have to bust out the vacuum and rush to tidy up so that the house looks presentable. Or you end up bleeding cash over repairs for the furnace and roof to attract a decent offer.

By selling your house to one of the iBuyer companies, you can avoid many of these headaches. The term iBuyer refers to a group of high-tech house flipping businesses that cropped up in the mid 2010s. Before you work with one, you’ll have to weigh the pros of convenience and speed against the possibility of receiving less than fair-market value and paying service fees.

To help you navigate through selecting an iBuyer, we’ve put together a roundup on some of the top iBuyers in 2023 and details about working with each.

Who are the iBuyer companies?

The term iBuyer encompasses a list of companies including Opendoor and Offerpad. We also include information about HomeLight’s Simple Sale platform, which provides you with a competitive all-cash offer to buy your home. Although Zillow was once a top-three iBuyer, it shuttered its iBuying program in 2021. In early November 2022, Redfin announced the shuttering of its iBuyer arm, RedfinNow, after launching in 2017.

Though each business operates a little differently, iBuyers generally provide a near-instant cash offer for houses, allow you to sell your home mostly or entirely online, and can facilitate much faster closings than a more traditional or financed buyer.

“The biggest advantage is ease,” says Lynn Carteris, a top real estate agent with the Oldham Group serving the San Francisco Bay area in California. “You don’t have to prepare the house; you don’t have to repair the house.”

Sell Your House for Cash: For Some, the Convenience Can’t Be Beat

Taryn Tacher — Mon, 22 May 2023 11:00:26 +0000

It wasn’t long ago that the decision to sell your house for cash was associated with a neglected or foreclosed property whose value had plummeted, as an investor swooped in to snatch it up for a bargain.

While that still happens in scenarios where a seller can’t afford repairs or is facing serious issues with a property, cash sales have expanded beyond the distressed homes market, as sellers benefit from new technologies, instant sale platforms, and a competitive housing environment that has increased the percentage of cash offers.

Let’s take a look at what it means to sell your house for cash in today’s market.

Cash’s continued clout

With the market heating up again, cash has persisted. Buyers who can make all-cash offers are doing so to avoid higher mortgage rates.

In April 2023, all-cash purchases accounted for 28% of all home purchases, according to the National Association of Realtors (NAR).

“For buyers who have the means, paying in cash is a way to get a leg up against other offers, because sellers will almost always prefer a cash offer to an equivalent financed offer, and will sometimes even prefer it to a higher financed offer,” says Eric Hughes, founder and CEO of Rental Income Advisors, which educates aspiring investors on acquiring and managing profitable rental properties.

HomeLight Blog

7 of the Top We Buy Houses for Cash Companies in Denver

Need to Sell Your House Fast in Denver?

7 of the Top We Buy Houses for Cash Companies in Jacksonville, Florida

Need to Sell Your House Fast in Jacksonville?

What’s the Average Washington Real Estate Commission Rate?

Find a Washington Agent 100% Worth Their Commission

What’s the average real estate commission in Washington?

Who pays real estate commission fees?

What’s the Average Massachusetts Real Estate Commission Rate?

Find a Massachusetts Agent 100% Worth Their Commission

What’s the average real estate commission in Massachusetts?

Who pays real estate commission fees?

What’s the Average Oklahoma Real Estate Commission Rate?

Find an Oklahoma Agent 100% Worth Their Commission

What’s the average real estate commission in Oklahoma?

Who pays real estate commission fees?

How to Sell a House By Owner in Missouri

Unsure about selling FSBO in Missouri?

How does selling by owner (FSBO) work in Missouri?

How to Sell a House By Owner in Maryland

Unsure About Selling FSBO in Maryland?

How does selling by owner (FSBO) work in Maryland?

Don’t Fix These 7 Things When Selling Your House

A Top Agent Can Guide Your Home Prep

How to decide what not to fix when selling a house

Step 1: Consult with a top local agent before you fix anything

How to Sell a House By Owner in Mississippi

Unsure About Selling FSBO in Mississippi?

How does selling by owner (FSBO) work in Mississippi?

How to Sell a House by Owner in California

Unsure About Selling FSBO in California?

How does selling by owner (FSBO) work in California?

Can You Sell a House With a Mortgage?

What's Your Home Worth?

Can You Sell A House With A Mortgage?

1. Check your home value

How to Market Your House for Sale in 2023

Step One to Marketing Your Home

Understand the market

Optimize opportunities

Fees and Costs Associated With Selling a House in 2023

Get a Free Home Value Estimate

Start with a home value estimate

Real estate agent commission (5.8%)

Find a Top-Rated Real Estate Agent

How is your commission divided between agents?

Staging and prep fees (1%-4%)

Declutter ($400 for dumpster rental)

Deep clean ($300 per clean)

Apply a fresh coat of paint to interior walls ($2,000)

Freshen up your flooring ($1,800)

Add curb appeal (average $3,500)

Stage your home ($1,800)

Adding up prep costs

How to Buy a House While Selling Your Own: 10 Options to Consider

Step one: Talk to an expert today!

First: Do your research

Real Estate Agent Commission: How Much Do Agents Make in 2023?

Find an Agent Worth Their Commission

Who pays real estate commission fees?

5 of the Top We Buy Houses for Cash Companies in Berkeley

Need to Sell Your House Fast in Berkeley?

Selling a House As-Is: How to Skip Repairs and Move On!

Sell Your House Just the Way it Is

What does it mean to sell a house as-is?

How Big Is an Acre? A Guide for Homebuyers

Step one: Talk to a few buyer's agents!

How important is lot size?

How to Sell a House By Owner in North Carolina

Unsure about selling FSBO in North Carolina?

How does selling by owner (FSBO) work in North Carolina?

Why sell a house by owner in North Carolina?

Pros of selling a house by owner

Cons of selling a house by owner

Steps to sell a house by owner

1. Prepare your house for sale

Indoors

Outdoors

2. Do the homework necessary to set a competitive price