Selling a house can be a complex system that has a lot of moving parts. After your house has been listed on the market you may begin to wonder if it is possible to sell your house privately. This may have you thinking about the advantages of not heavily relying on a real estate agent.
If you find yourself asking if you “can I sell my house privately after listing with a realtor.” The answer is yes.
When working with a real estate agent you have to sign a contract with them. Depending on which contract and leasing agreement you initially sign will determine how easy or difficult it may be to sell your house privately.
Below we will discuss the different leasing agreements and which ones allow for the best chance of selling a house on your own.
Common Listing Agreements for Selling a House
Here are the 3 most common listing agreements that most home sellers find themselves in with a real estate agent.
Exclusive Agency Listing
Under this leasing agreement, your house can only be sold under one real estate broker, but at the same time, it allows the option for you as the homeowner to sell your house privately. Most agents will find this agreement unfavorable because they will only make money if they were the sole person to sell the house.
Real estate agents who agree to the process will normally place the house on the Multiple Listing Service (MLS) and hold for offers to come through. They will not take the initiative to market the house or hold showings for potential clients.
This lack of initiative from the agent opens the door for you as the homeowner to take over those responsibilities and take on a more hands-on approach to selling their house. If you can sell your house privately, you’ll make even more profit at closing since you won’t have to pay a commission to your listing agent. If you want to make a profit really fast, consider selling your home for cash.
When trying to sell your house on your own, you will most likely have an open listing agreement. This agreement means that not only can you sell your own house but that the selling and showing of the house do not fall under one party. Multiple agents will have the opportunity to show and sell your house. In fact, most homeowners trying to sell their own house under an open listing agreement will rely on the agents to show the house to clients found on their end.
This type of agreement leaves the sale of your house as open game. So if you can sell it faster than one of the real estate agents, then you don’t have to pay a commission. If it worries you that so many different parties are working on selling your house at the same time, then selling it for cash might be just the solution. You could sell your house for cash as soon as today.
Exclusive Right to Sell Listing
This third most common listing agreement is unlike the other two mentioned above, as it gives exclusive rights to sell your property to one agent. They are the ones who will list it, market it, and speak with potential buyers.
Within this agreement lies a clause stating that the agent has a designated time period to sell your house before the contract falls through. In the event the agent does not sell your house, it opens the door for you to sign a new listing agreement. One more favorable for selling a house on your own.
This is the main and most common type of listing agreement that real estate agents will encourage you to sign because it ensures their commission regardless of how the house was sold.
Ready to Cash in Today?
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