Selling a House without a Real Estate Agent in Ohio
Selling a house without a real estate agent in Ohio can save you thousands in commission fees, making it a popular option for home sellers. In Ohio, realtor commissions typically average between 5% to 6% of the sale price. For a $250,000 home, that’s $12,500 to $15,000 in commissions.
However, skipping the realtor means you’ll have to handle everything that they would, including pricing, marketing, negotiations, paperwork, and making sure you’re complying with Ohio laws.
In this guide, we’ll walk you through the two main options you have when selling your house without a real estate agent.
Option 1: Sell Your House to an Ohio Cash Buyer
Selling your house to a cash buyer in Ohio, like Snap Sell Homebuyers, is one of the fastest and easiest ways to sell your house without a realtor. Cash buyers are investors who buy houses for cash to fix and flip them, or turn them into rentals.
If you decide to work with a cash home buyer in Cleveland, you can expect a straightforward process. If you want to learn more, you can read about the process here.
Benefits of Selling to a Cash Buyer
- Speed: A major advantage of selling to a cash buyer is how quickly the sale can be completed. Since there’s no waiting for mortgage approvals, credit checks, or loan term reviews, the sale can be wrapped up in just a few days.
- Hassle-Free Sale: Cash buyers, like Snap Sell Homebuyers, buy houses completely as-is. That means you won’t have to spend any time or money fixing up or cleaning the property before the sale, and you can also leave behind any items and furniture you don’t want.
- No Fees or Commissions: Save 5%-6% on commissions. Snap Sell Homebuyers will also cover the closing costs, which typically are between 1% and 2% of the sale price.
- Certainty: Selling to a cash buyer offers greater certainty because the transaction isn’t dependent on mortgage approvals or appraisal contingencies. Traditional buyers can also sometimes just change their mind and back out.
Downsides of Selling to a Cash Buyer
- Negotiations: Cash buyers make offers based on numbers and not emotions. This means their offers are typically “take it or leave it.”
- Lowball Offers: Some cash buyers may offer less than market value for your house, seeking a discount for the speed and convenience they provide. However, at Snap Sell Homebuyers, we take pride in offering competitive cash offers.
Finding Reputable Cash Buyers in Ohio
Look for buyers with a proven track record and verifiable reviews. Many legitimate cash home buyers in Ohio will provide proof of funds before you sign anything.
Option 2: Sell Your House For Sale by Owner (FSBO) in Ohio
A For Sale by Owner (FSBO) sale means you act as your own agent. You’ll set the price, market the home, show it to buyers, negotiate offers, and handle paperwork. This option appeals to sellers who want to maximize their sale price and are comfortable handling the process themselves. Below are the steps for selling FSBO:
Step 1: Prepare Your Home for Sale
Make any repairs that you feel are necessary, such as fixing any leaks. You may also benefit from some DIY friendly upgrades, like adding a fresh coat of paint. Everyone has different tastes, but neutral colors are what attract the largest pool of buyers.
If possible, you’ll want to professionally stage it with thoughtfully arranged furniture and décor. In Ohio, you can get a home staged for $2,000 or less.
Make sure not to ignore the exterior. Mow the lawn, trim bushes, and you may want to consider having the home professionally pressure-washed.
Step 2: Price Your Home Correctly
Setting the right asking price is crucial. Overprice your home, and it may sit for months. Underprice it and you leave money on the table. While the value estimates of sites like Zillow and Redfin can be a decent starting place, keep in mind that they’re often inaccurate by 10% to 20% if you’re home is in good condition, and way less accurate if your home is in poor condition.
To price your home accurately, you should order a professional appraisal. In Ohio, this can cost between $300 and $500. Keep in mind, just because someone agrees to pay your asking price doesn’t mean they can actually buy it for that price. The buyer’s financing institution will order its own appraisal, and if it comes in lower than the agreed-upon price, the buyer will either have to come out of pocket for the difference, cancel the deal, or you will need to agree to the lower price to value suggested by the lender’s appraiser.
Step 3: Market Your Home for Sale
You’ll want to start by taking high-quality photos of your home. You may want to consider hiring a professional real estate photographer. If you do it yourself, take one of each side of the exterior and show the yard space. When taking pictures of the interior, make sure to do it in the daytime and open all curtains and blinds to maximize sunlight. Take 1 to 2 photos of each room, standing in a corner, and hold the camera at chest height.
Then you’ll want to list your home for sale. Put a sign in your yard and list your home on popular websites like FSBO.com and the FSBO section of Zillow. Another great option to maximize exposure is listing your home with a flat fee MLS listing service. For a few hundred dollars, flat fee companies will list your house on the local multiple listing service (MLS), which is used by buyer’s agents.
Step 4: Negotiating Offers
You’ll need to evaluate offers based on more than just the price. Look at terms like earnest money deposit, inspection contingencies, closing timeline, seller concessions, and requests for repairs.
Step 5: Closing the Sale
Once you and the Buyer come to an agreement, you’ll need to sign a contract and open up escrow at a local title company. Typically, the Buyer will pick a title company of their choosing.
Legal and Paperwork Requirements
In Ohio, real estate sales require sellers to complete and deliver to buyers a Residential Property Disclosure Form and a Lead-Based Paint Disclosure Form.
Frequently Asked Questions
Can I sell a home without a real estate agent?
Yes, anyone can sell their house without hiring a realtor. The two main options are selling it fast and hassle-free to a cash buyer, or selling it For Sale by Owner.
What are the risks of selling a home without a realtor?
The main risks are selling too low due to inaccurate pricing or limited market exposure, pricing too high, leading to a lack of interest, or not following Ohio laws. With this guide, however, these risks can be mitigated.
Is it better to sell your house yourself or use a realtor?
If you’re confident that you can price your home correctly and negotiate well on your own behalf, then using this guide, you should be able to get plenty of market exposure for your home. A good realtor, however, will have much deeper market knowledge and more experience negotiating good deals for their clients. Most home sellers are best off using a realtor to sell their house. However, if you need to sell fast or your home is not in the best condition, selling it directly to a cash buyer may be your best option.
How much can I save by selling my home without a realtor?
By selling your home without a real estate agent, you can avoid paying the typical 5% to 6% in commissions. On a $200,000 home, that’s a savings of $10,000 to $12,000. Keep in mind, though, you may have some marketing or legal expenses.
Should I hire an attorney if I’m selling FSBO?
Hiring an attorney is not required to sell a house FSBO in Ohio. However, an attorney can be a great resource to help draft documents and ensure you’re complying with the law.
Main Takeaways: How You Can Sell a House Without a Realtor in Ohio
Selling your home without a realtor can save you thousands in commissions, but it also means taking on responsibilities like pricing, marketing, and negotiating the sale yourself.
Each selling method has its pros and cons. Selling to a cash buyer is fast and simple. The FSBO route gives you complete control but requires extra time and effort.
If you’re considering selling to a cash buyer, we’d love to help. At Snap Sell Homebuyers, we purchase homes directly for cash, making the process quick and stress-free. Call us today at (330) 578-7886 to get started!
How to Sell a House without a Realtor in Ohio | Selling a House without a Real Estate Agent Fast