Do I Have to Use a Realtor to Sell My Home if I’m Friends With the Buyer?
Jennifer from Texas: “I was planning on selling my house with a Realtor. However, a family friend says she would like to make an attractive cash offer on the house. I know Realtors typically make between 5 and 7% on the sale of a house. Do I have to use a Realtor or can we make this transaction quicker and easier somehow?”
Clark’s Take on Whether a Home Seller Needs a Realtor When the Buyer Is a Friend
Clark thinks it’s OK in this case to eliminate the “middle man,” the real estate agent.
Clark says: "What I recommend particularly with a family [or friend] transaction is that you go to a lawyer who does real estate closings and have he or she prepare the purchase or sales agreement for you and … make sure that all the things are done like both of you would want them done."
He adds: “In a case where the buyer is somebody who’s already known to you, there is not the need for a real estate agent like there would normally be. Real estate agents play a number of functions in the sale and purchasing of real estate, but the principal one is helping a buyer and seller get that match game done. You already have a match.”
If you’re thinking about selling your home and don’t have a buyer yet, you may be wondering how to go about the process.
The first step is to decide whether you want to work with a real estate agent or try to sell your house on your own.