Home Selling By Owner

One of the aggravating things about selling a home is paying realtor commissions. Home selling by owner presents the opportunity to avoid throwing away such money.

Home Selling By Owner

Home selling by owner is one of the best things you can do – if you approach it right. It allows you to sell your home without using an agent, which will save you tens of thousands of dollars. This savings can rub off to other areas as well.

To get a feel for the amount of money you will pay out in commissions if you use a realtor, lets use an example of a $300,000 home. Real estate agents charge a typical fee of six percent for their services when selling a home. This percentage may not sound like much until you put it into hard, cold dollars. Six percent of $300,000 equates to a very nice fee of $18,000 for the real estate agent. Do you really believe the real estate agent did enough work to earn that much? How many mortgage payments did you have to make to build up $18,000 in equity?

Get Free 1 Month Listing

That is where home selling by owner comes into play. By choosing to sell the home yourself, you will avoid paying out $18,000 of your hard earned equity. Instead, you can either go through the traditional sales process and pocket the money or you can use the savings to create flexibility. For instance, you have an $18,000 advantage over the comparable homes in your neighborhood that are using real estate agents. You can list your home for less than those homes, the primary method for getting a quick sale.

Admittedly, home selling by owner takes a bit more work on your part, but hardly $18,000 worth. With the massive exposure of the Internet on sites such as this, you can easily market your property to the 70 plus percent of homebuyers who look to the Internet first to find their dream homes. Simply put, you are no longer a slave to the MLS lists controlled by realtors.

Contracts are one area that makes homeowners nervous when it comes to selling without a real estate agent. Here is some breaking news – it is all done with forms, and realtors use the same forms! If you are still uncomfortable using these forms, you can retain a real estate attorney for a flat fee to handle everything. The flat fee will definitely not be $18,000!

All in all, home selling by owner can prove to be a very profitable experience. It is a highly advised alternative with as much as 25 percent of homes being sold this way as of 2005.

<< Back to Sell Your Own Home