Advantages of Selling Your House "For Sale by Owner"

If you are considering listing your home "for sale by owner," there are several things that you will need to think about. This process can provide you with a number of benefits along the way. Here are some of the advantages of selling your house without the aid of a real estate agent.

Avoid Agent Fees

If you are planning on selling your house with a real estate agent, you will have to get used to the idea of paying the agent a large commission. She is going to take a certain percentage of the entire price of the sale. In most cases, this will be a substantial amount of money. A typical real estate commission is about 6 percent. If a house sells for $200,000, this would amount to $12,000 in commission. By simply doing the work yourself, you can keep this amount of money in your pocket. You need to determine if having someone else handle the process of selling the house is really worth 6 percent of the value of your house. If you do not think it is, selling your house on your own is the way to go.

Scheduling Issues

When you are selling a home, you will need to be flexible in order to allow people to see the property. When you are handling the process by yourself, this will be easier. When you use a real estate agent, you also have to worry about her schedule. The real estate agent is going to handle the appointments and the open houses for you. She will be able to do this only when it is convenient for her. Since she will most likely be working with many other clients at the same time, the time that she has available may not always be convenient for you. If you cut out the middleman, you will have to worry only about your schedule and the schedule of the potential buyers.

Talking to Buyers

When you sell your house with a real estate agent, you will very rarely get to speak to the potential buyers. You will most likely be gone when the house is being shown, and the real estate agent will handle the communication for you. If you list the house for sale by owner, you will be able to communicate directly with the potential buyers.

When you are negotiating with someone, it is much easier to handle this process face to face. Being able to talk directly with someone will give you a feel for how badly he wants the house. The art of negotiation depends greatly on the ability to read people and situations. When you negotiate through a real estate agent, you could potentially lose some of your advantage. If a potential buyer asks for something in the negotiation, you will be able to tell whether you should give into his request. This will allow you to come up with a solution that suits both parties.

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