If you’re looking to sell your land or investment property in California without using a real estate agent, we can help.
Although we do cooperate with brokers, sometimes it’s best to avoid paying someone to be in the middle.
After all, paying 10% of the sale of a property in commission is a lot of money. In certain situations, CA brokers and real estate agents can be very useful and earn their commission but that isn’t always the case.
There’s a few ways to avoid paying high commissions in your CA sale.
First, there’s a tricky custom that you’ve gotta know about.
In most sales in California, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker.
Doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
Truthfully, it defies logic – it’s just what’s typically done.
You can use that to your advantage in a few ways.
First, factor in the commissions paid when you’re looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Sometimes in California, buyers who aren’t represented by an agent won’t remember to negotiate the buyer’s side commission out of the price for themselves, so don’t remind them if you don’t want to pay them. Just don’t be surprised if it comes up during the negotiation.
You may want to consider offering 2.5% to buyer’s agents who will bring their clients to show your property. Sure, it’s a lot of money. If you’re pricing your property including that commission, you can always negotiate a better deal for a purchaser who comes without an agent.
On the other hand, if you don’t leave room for the buyer’s agent’s commission, you’ll be excluding most of the buyers in the market in California.
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all the brokers in California use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in California, there are a few brokers who will charge you a fee just to list your property on the MLS. Often, you spend a few hundred bucks and you only pay commission if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a cheap way to market your property to a very wide audience.
All the major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc. get data from the MLS. Chances are good that when you submit your listing in California to the MLS, information on your property will end up on most of the major sites within a few days.
Each of those sites sells ads. They’ve got packages that let you pay to enhance your listing, feature it at the top of the search, and a lot of other bells and whistles that might or might not get an interested buyer to buy your property.
Advertising is a gamble. Sometimes it can be a great way to sell property, and sometimes it ends up being a waste of time. The same goes for newspaper ads, craigslist postings, fancy signs – sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you have to market it well.
Putting up fliers and signs around your neighborhood can generate some calls, and there’s a lot of free websites where you can post information. But often just putting up flyers isn’t enough if your property doesn’t appeal to the average land buyer.
In theory, real estate agents charge big commissions because they have to spend a lot of money up front to advertise your property. By advertising a lot of properties at once, they expect to get more phone calls – and obviously, they’ll make good profits by selling a lot of property.
Certain properties might require thousands of dollars in advertising expenses before the right buyer happens to see the ad and call.
If you want to avoid paying any commissions, you can also sell your land to investors like us for CASH
We give no obligation offers for vacant land in California – and we can close relatively quickly since we buy directly from you.
Fill out the short form over here to contact us now with your property information. The sooner we have your information, the sooner we can give you your no obligation, cash offer.