When you choose to sell your home without the help of a real estate agent, most likely it’s because you want to save some money. Research has shown that selling a house without help can save the house seller as much as $9,000 during the home selling process, depending on where the house is located. However, please don’t be swayed by this fact.
A qualified real estate agent costs a lot because they have experience in the market and is more likely to get you a more acceptable price for your home. An agent also wins based on the networks s/he subscribes to, like MLS, Realtor Boards and other real estate specialists which enables him/her to reach people who’s looking for a house, or can help in selling one.
selling a house without help will also affect the marketing process. If you go house selling without the help of an agent, it’s not likely that you’ll have access to Multiple Listing Services – a database full of house listings given out to home buyers. You might need to get the buyers in some other way, like holding an open house regularly until you sell and/or putting an advertisement in your local newspaper.
Furthermore, when a buyer sees that you are selling a property without help, they will likely offer a lower price, because they know you’re already saving money by not hiring an agent. However, this circumstance also allows YOU to accept a lower price, because while the buyer may make a lesser price offer you are able to gain the advantage of netting an acceptable amount while getting a faster sale.
On the other hand, it is understandable that some people do not trust other people to sell their home. Selling a house without help means being in total control of the transaction. You know that you will always be available for questions or home showings; and whenever you make a mistake, it’s yours and only yours to accept responsibility for (trust me, a mistake that costs you nothing would still feel better than an expensive one).
Selling property is no easy task, so when you’re sure that selling a house without help is the way to go, there are some extra preparations you need to make. Take extra measures in preparing your house. Remember that you’ll be competing with professional agents and their clients’ houses – make sure you have a chance to stand out! Find websites that provides a “For Sale by Owner” kit to help you get as much exposure as possible.
You also need to get educated in legal (contractual) requirements involved when you sell a property. This will take some time, so get help from an attorney and start researching way before your anticipated selling date. selling a house without help is a tricky business. Some say that you’re able to sell your own house if you have three free hours every day of the week. With a little bit of work, you’ll manage to put that much-needed money to better use.
Let’s look at it this way. Even if you are able to accept less money from a buyer to effect a quicker sale, you will still save money by means of the time you will have saved, because if your mortgage payment is $1,500 per month and you leave the house 6 months early due to the quick sale, you would save $9,000 in costs.