If you want to sell your house or investment property in New Orleans without using a real estate agent, we can help.
We cooperate with brokers, but sometimes it’s better to avoid paying someone to be in the middle.
After all, paying 5-6% of a property’s sale in a commission is a lot of money. Having LA brokers and real estate agents can be very beneficial in certain situations where they earn their commission. This is not always the case.
There are ways to avoid paying high commissions in your LA sale.
There’s a tricky custom that you need to know about.
In New Orleans, about half of the commission that you pay as the seller goes to pay for the buyer’s broker in most cases.
This doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
Honestly, it defies logic – it’s just what is usually done.
You can use that to your advantage in several ways.
When you’re looking at the comparable sales, factor in the commissions paid. Take into account if the properties similar to yours sold for prices that included commissions.
Don’t under-price your property – be aware that a savvy buyer may expect to take a discount too. If you’re doing the work of one agent, you can expect to save that money.
In New Orleans, buyers who aren’t represented by an agent often forget to negotiate the buyer’s 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. It’s a lot of money, but if you’re including that commission in your property’s price, you can always negotiate a better deal for a buyer 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 New Orleans market.
Over 90% of transactions happen through the MLS – which is the Multiple Listing Service. It’s the database that all brokers in New Orleans use to access data for their clients on houses, condos, land, and investment properties that are for sale, as well as information on sold prices.
There was a time when you had to pay a full commission in order to get your property on the MLS. Now in New Orleans, there are a few brokers who will charge you a fee to list your property on the MLS. Often, you spend a few hundred bucks and only have to pay commission if the sale closes.
Compared to the cost of a newspaper ad, the MLS is a cheaper way to market your property to an extremely wide audience.
Major real estate search sites like Realtor.com, Zillow, Yahoo Homes, etc. recieve data from the MLS. When you submit your listing in New Orleans to the MLS, chances are good that information on your property will end up on most of those sites within a few days.
All of those sites sell ads. They have packages that allow you to pay to enhance your listing, feature it at the top of the search, as well as other bells and whistles that may or may not get an interested buyer to purchase your property.
Advertising is a gamble. Open houses in New Orleans LA can be a great way to sell properties, and other times they’re a waste of effort. The same goes for newspaper ads, craigslist postings, and fancy signs – sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you have to market it well.
You can generate some calls by putting up fliers and signs around your neighborhood and by posting information on free websites, but oftentimes it’s just not enough if your house isn’t appealing to the average home buyer.
In theory, real estate agents charge large commissions because they have to spend a lot of money up front to advertise your property. By advertising multiple properties at once, they expect more calls – and they’ll make better profits by selling more houses.
Some properties might entail thousands of dollars in advertising before the right buyer happens to see the ad and call.
If you want to avoid paying commissions, you can also sell your house to investors like Louisiana Direct Home Buyers for CASH
We offer fair prices for properties and can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase New Orleans houses, fix them up, then rent them out. Other times, we’ll fix them up and sell them to people looking for great homes in the area. We love to hear from people like you who are thinking of selling anywhere in LA.
We’re investors who care a lot about New Orleans.
We close fast and pay cash in as little as just 3-5 days. Give us a call now at (504) 224-9066 or fill out the short form over here.