Thought About Selling By Owner?

by : Kim Lee

Are you interested in selling your home? Is it time to move onto another property? If so, you may be a bit intimidated by the overall sales process. This is especially true if you have never sold a home before. Luckily, this is something that is successfully done by people day in and day out. The first decision that you need to make is whether or not selling by owner is right for you.

As you probably know, you have two options when selling your home. As mentioned above, you can look into selling by owner, or you can decide that you want to hire an agent. There is no way of saying that one is better than the other, and until you consider the pros and cons, you will never know for sure. The main reason to sell on your own is that you will not have to give an agent any money out of your profits. In most cases, a real estate agent will take approximately 6 percent of your selling price. This may not seem like a lot to you up front, but after you do the math you may see things differently. For a $100,000 sale you would have to give up $6,000. And as the price of your home gets higher, the amount of money that you have to give an agent also increases.

Of course, when selling by owner you are responsible for much more of the work. You will not have an agent marketing your home, calling clients, or setting up open houses. These are all things that you will have to do on your own. But once again, it may be worth it to you because you can save a lot of money in the long run. Before you decide that selling by owner is the right choice, make sure that you know exactly what you are getting into. You do not want to lose time by starting off on your own, and then deciding that you need an agent. While you can do this, it will set you back quite a few weeks in many cases. Make sure that you consider selling by owner, but that you only make your final decision when you are 100 percent ready to do so.

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