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Can I successfully sell my downtown condo without a realtor and negotiate a fair price without professional assistance?
Selling a condo without a realtor can save you 2-3% in commission fees, which can equate to significant savings.
In 2024, the National Association of Realtors (NAR) reported that 18% of home sales were FSBO (For Sale by Owner) transactions.
To accurately price your condo, you can use a comparative market analysis (CMA) to compare local home sales within the past six months.
Condos typically sell faster than single-family homes due to their smaller size, lower cost, and lower maintenance requirements.
Selling a condo without a realtor often means more work for the seller, such as marketing, hosting open houses, and negotiating prices.
Selling to a cash buyer can provide a quicker sale but often results in a lower net profit due to higher transaction fees.
In a 2024 survey by HomeLight, 78% of sellers who sold FSBO reported that they knew the buyer, whereas only 22% sold to an unknown buyer.
The process of selling a condo without a realtor requires a thorough understanding of legal and financial requirements, such as complying with state and local real estate laws and accurately determining property values.
Flat-fee agents or companies can help get your listing on the MLS without using a full-service realtor.
Using a real estate attorney is an alternative option for those looking to sell their condo without a realtor.
A broker price opinion (BPO) is another method for determining a condo's value and involves a real estate broker or appraiser visiting the property to assess its value.
Homeowners selling FSBO should consider advertising their property on various platforms, including social media, local real estate websites, and traditional methods such as signage and print advertisements.
According to a 2024 survey by the National Association of Realtors (NAR), FSBO homes sold for a median price of $217,000, while agent-assisted homes sold for a median price of $295,000.
Staging a home can increase its selling price by up to 10%.
Disclosing defects and known issues, such as plumbing leaks, broken appliances, and drywall damage, can help avoid legal disputes and potential lawsuits.
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