Wednesday, October 19, 2011

Deciding Not To Use A Real Estate Agent To Sell Your House

If you don't like the idea of paying out a commission for selling your home, then sell it by yourself. This will mean being pro-active. You will have to do all the scheduling of appointments and handle the negotiations. You will have to get involved with advertising as well.

One of your most important tasks will be to figure out the financial aspects of the deal. You will need to determine how much you will actually save by leaving out the real estate agent. In general if you refuse to use a real estate agent you can save yourself 50% of a 5% to 7% commission. On a $250,000 home that comes to around $6,000 to $8,750. This is assuming that the buyer is using an agent.

If your mind is made up to go it without a real estate agent then saving around five to six thousand for every one hundred thousand can easily be done, but the thing you need to understand is that you are going to incur the marketing expenses. Advertising will be YOUR responsibility, and a lot of legwork is also going to fall to you. An agent can really be worth the commission, especially if you work a job and are busy already.

If you both decide against an agent then you will have to put in a lot of time because buyers will call you a lot. You will have to be there for showing the house and giving tours. If you don't have all this time then you really should take the real estate agent option.

It's a good idea to do some research whenever you are trying to figure out total costs. You want to know exactly what the costs are going to be for a home in your chosen neighborhood. Check to see what similar types of homes have been selling for within the last few months to a year. This will give you some idea about the kind of asking price you come up with.

You can also visit your local tax department and let them help you put things into perspective. They can help with closing fee amounts and how much cash you are looking for once the sale is made. When you price a home right it sells much quicker. Make use of friends and family for helping to find contacts and potential buyers. They can be more help than you would think.

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