When considering selling your home and listing with a realtor, the cost of the real estate commission which is paid for by the seller can become quite a concern. With today's property prices falling and seller's already taking a financial hit on the value of the home, it is time for seller's to investigate other options in order to recoup as much as possible from the sale of the home.
Many seller's will choose to take the route of selling their home on their own which is also know as FSBO, for sale by owner. By doing so, a seller can save on commission fees which can run between 5% to 7% of the sales price. By doing so, you can protect whatever equity is left in the home and will be able to adjust the selling price according to the comparable values, therefore, passing the savings to the buyer.
Having control over the sale of your home is another reason to sell by owner. You are able to choose when to show the home, what the selling price will be and who will handle the closing.
For sale by owner is not for everyone. A seller must be available to show the home to potential buyers at the buyer's convenience. A seller must also remember to disclose everything known about the home, including deficiencies. In addition, they will need to do their own negotiating with the buyer or buyer's agent. It does take some time and effort on the seller's part.
There are also companies, such as Owners Advantage LLC, that offer several options for sellers to help them sell their homes. The cost of these offers run from being free to approximately $695. The most expensive contract includes the assistance of an agent who is available for advice and support, will review contracts and assist with the closing. This offers a tremendous amount of savings in comparison to using a conventional realtor but yet, at the same time, gives the seller the comfort of knowing that they are doing it the right way. In addition, these services offer numerous resources and reading material so that sellers can become educated and familiar with the process of selling.
For anyone looking to sell a home, it is worth the time to check out other alternatives to using a realtor. The savings can be tremendous and the rewards of doing it yourself plentiful.