Traditionally, when people sell their properties through realtors, they pay them 6% of the commissions. Things have started to change in the real estate industry with cash home buyers. These investors work directly with sellers, so they never ask for commissions.
Suppose you are thinking of hiring cash home buyers in Michigan to sell your house, but you are unsure because you don’t know much about these real estate investors. They seem too good to be true. After all, cash home buyers purchase properties in all conditions without commissions and repairs. To help you out of your confusion, we have explained below why cash home buyers do not ask for commissions.
Reasons why you can skip commissions with cash home buyers
Below, we have listed why real estate cash buyers in Michigan and other regions do not charge commissions.
- No third-parties
Real estate agents work on commission. That means, at closing, they get 4% to 6% of the commission from the sale price. Besides this, the broker and brokerage company also need their fees. But cash home buyers work closely with clients, so there is no one to ask for a commission.
- Direct buy
Today, almost everyone is familiar with a direct buy. It involves homeowners selling their properties to cash buyers with no sales agent or broker. So, this selling process reduces extra costs that you may otherwise have to pay to these professionals. Moreover, it makes the process fast and simple because of the few people involved.
- No marketing
Realtors need to market properties to attract more buyers. For example, they will hire a professional photographer or videographer to take high-quality pictures and create videos, and they will post these on social media and websites. Marketing requires time and money investment. But with a cash sale, you do not need a marketing and sales agent. Therefore, cash home buyers never ask for commissions.
In closing
To sum up, cash buyers don’t charge extra costs because there is no need. At Detroit Cash For Homes, we buy houses for cash in Michigan with no marketing, staging, and listing. Thus, we never charge commissions and other fees.
