If you’re looking to sell your house or investment property in Kansas City without using a real estate agent, we can help.
While we certainly work with agents and are happy to do so, heck I even had my license for a while, we know that not everyone wants to pay a middleman to sell their property.
Paying an agent can really add up to, often to the tune of 5-6% of the sales price! In certain situations, Missouri brokers and real estate agents can be very useful and earn their commission. Not always.
How Do I Sell My House Without An Agent in Kansas City?
There are a few ways to avoid paying high commissions in your Missouri sale.
First, there is a not often understood component of the 6% agents fee.
In most sales in Kansas City, roughly half of the commission you pay as the seller goes to pay for the buyer’s broker.
Doesn’t make much sense, right?
Why should you pay for the agent on the other side of the table?
Truthfully, it defies logic – it’s just what’s typically done.
You can use that to your advantage in a few ways.
First, factor in the commissions paid when you’re looking at the comparable sales. If the properties similar to yours sold for prices that included commissions, take that into account.
Don’t underprice your property – be aware that a savvy buyer may expect to take a discount too. If you’re doing the work of one agent (the seller’s agent), you can expect to save that 3% portion for yourself.
Sometimes in Kansas City, 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.
We recommend that you include in your listings and in your calculations that you will provide 2.5% to the buyer’s agent. If you do end up working with an unrepresented buyer, you can simply use that 2.5% buffer as a negotiating tool.
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 Kansas City.
Over 90% of transactions happen through the MLS – that’s the Multiple Listing Service. It’s the main database that all the brokers in Kansas City use to access information for their clients on the houses, condos, land and investment properties for sale, along with data on the sold prices.
Think of it like the classifieds in the newspaper, or Facebook marketplace. It is a special marketplace for real estate specifically that is controlled by local groups of agents.
Once upon a time, you had to pay a full commission to get your property on the MLS. Now in Kansas City, there are a few brokers who will charge you a fee just to list your property on the MLS. These are referred to as flat-fee listing services and they often only cost a couple of hundred dollars. They are bare-bones as far as the service you can expect, but if you’re willing to do all of the showings, negotiations, paperwork, and closings yourself this is a great way to get exposure for your property and save a little money in the process.
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 Kansas City to the MLS, information on your property will end up on most of the major sites within a few days.
Each of those sites sells ads. They’ve got packages that let you pay to enhance your listing, feature it at the top of the search, and a lot of other bells and whistles that might or might not get an interested buyer to buy your property.
Advertising is a gamble. Sometimes open houses in Kansas City Missouri can be a great way to sell a property, and sometimes they’re a waste of time. Same with newspaper ads, craigslist postings, fancy signs – sometimes they work, and sometimes they don’t.
To effectively sell your property on your own, you have to market it well.
Putting up fliers and signs around your neighborhood can generate some calls, and there’s a lot of free websites where you can post information. But often just putting up flyers and an open house isn’t enough if your house doesn’t appeal to the average home buyer.
Theoretically, the reason that agents deserve the commissions that they charge is because they are providing an equal amount of value. This can be intangibles such as negotiation, hand-holding through the process, and industry connections with inspectors, handymen, etc. But they are often expected to be doing all of this marketing and legwork themselves to be able to make the phone ring. They should be advertising themselves, their business, and their company to keep a steady stream of interested buyers looking at their listings, including your house.
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 house to investors like us for CASH
We fair prices for properties – and we can close fast (in as little as 3-5 days if you need to).
Sometimes we’ll purchase Kansas City houses, fix them up, then rent them out… sometimes we’ll fix them up and sell them to other people looking for great homes in the area, and a lot of other reasons, too – but we love to hear from people like you who are thinking of selling anywhere in Missouri.
We’re investors who care a lot about Kansas City.
We close fast and pay cash in as little as just 3-5 days. Give us a call now at 816-800-9238 or fill out the short form over here.