Save Money on Commission Fees
Typically, a real estate agent or broker who lists and sells
your home is paid a commission between 5% to 7% of the selling
price. That means that if your house sells for $200,000, you would
end up paying him/her between $10,000 and $14,000. The commission
makes up by far the biggest chunk of the expenses associated with
selling your house. If you sell it without the help of an agent,
you save that money.
Maintain Control of the Sale
If you choose to sell by owner, you will make all the decisions
about when your house is available to be shown, about the correct
price for the house, about the escrow company you use. All the
advertising decisions - where and when your ads will run, what
aspects of your home they emphasize - will also be yours. If you
are the type who relishes being in control of all the details, you
will probably prefer selling your home yourself.
Challenges
Of course, selling on your own is not the answer for all
sellers. It can take more energy and commitment on your part than
if you were to list with an agent.
You will need to be able to show your house at the buyer's
convenience if you are serious about selling. You will need to pay
for advertising so that potential buyers know your house is
available, and do some research to know how to price your house.
You will need to find and hire a good real estate attorney to tell
you what things by law have to be disclosed to the buyer prior to
a sale, look over any contracts, and ensure you do not
inadvertently discriminate against potential buyers. You will have
to negotiate directly with buyers, and with buyers' agents. You
will need to find an escrow company to administer the closing.
In short, selling on your own is not simple. But, neither is
selling through a real estate agent. The by owner option can be
worth your hard work, if you are committed to saving money, equity
and quite possibly time.
Use the resources offered on NaplesNetwork.com and we
think you'll be on your way to the smooth sale of your home.
About Selling
The residential real estate market is changing to provide new
ways of selling your home in addition to the traditional by owner
and full-service agent methods. Each method has its pros and cons.
Read below to get the information you need to make the choice
that's best for you.
