Selling For Sale By Owner gives homeowners a huge advantage over listing their homes with a Realtor. Price is everything in today's market with so many homes for sale. Sellers who use For Sale By Owner have much more room to negotiate to get to a price both parties can agree on when compared to a traditional, Realtor listed property with a 5-6% commission rate. There are additional benefits to using For Sale By owner that apply to the seller as well. Say that you and the buyer negotiate a lower price that is equal to 3% of the price of the home.
That means that you will keep the other 3% that would have gone to real estate agents in your pocket potentially saving you thousands of dollars over what you would have spent if you had used a real estate agent to sell your home. If you are in an area with a lot of demand, you may not need to reduce the asking price of your home or property. That would mean that when you sell it you would bypass the whole 6% commission that the realtor would have charged and split with the other realtor that represented the buyer. Instead if you have a selling price of $220,000 you would have saved $13,200 on commissions that you would now have for yourself. Isn't that a great situation? You also do not have the conflict of interest that is inherent in a relationship between a seller and a realtor.
They get paid when a property sells so the faster that takes place the better off they are. Referring back to the same example as above, if your home is listed for $220,000 and an offer comes in for $210,000, the realtor would want you to take it. The reason is that while that is worth $10,000 to you to wait for the $220,000, it is still worth $6,300 to the realtor in commission where waiting another couple of weeks or a month for the full price would only net them $300 more dollars after they split it with the other real estate agent. There real incentive is to get the deal done, not to get you the most money.
There is a downside to selling your home on your own. It does take real work and real preparation including staging and showing your home to prospective buyers, and negotiating the terms and price of the sale. This is okay though because there are companies out there to help you handle these parts of the process as well as to help you get the most for you home that you can. Be sure to consult a good and competent real estate attorney before making the decision as they will be able to help you through the process and understand the legality of what you are trying to do and what things to look out for.
Most Real estate agents will try to convince you that you cannot sell your home without one, with the advent of the internet the ability to list your home online has gotten so easy that you could have your home in front of prospective buyers within just a few minutes. This is important because before the internet became commonplace only real estate agents had access to the MLS or multiple listing service and that kept many of the homes out of reach of people who did not have a real estate agent working to find them a home or property or working to sell their home or property. When deciding to list your home or property on your own you should do research on your area and what services are available to help you. Working with a For Sale By Owner company may be the right thing for you to do. Be sure to check into them on the internet and also to check out their website.
This will go a long way towards helping you understand their philosophy and the best practices they use to help you sell your home without the high commissions associated with real estate agents or the traditional way of selling your home on the Multiple Listing Service. Just doing a search of For Sale By Owner and your state or city should give you several options to choose from that could be helpful. You could also ask friends or family for suggestions as to who they have used and how much they paid. Be sure to check into multiple services and again make sure to consult an attorney before making anything permanent. Now it is off to the races- Go sell your home and keep more money in your pocket. If you are considering selling your home in Cedar Rapids you should consider getting it listed on a page that specializes in Cedar Rapids Homes For Sale so that you can get the most exposure for your home.
That means that you will keep the other 3% that would have gone to real estate agents in your pocket potentially saving you thousands of dollars over what you would have spent if you had used a real estate agent to sell your home. If you are in an area with a lot of demand, you may not need to reduce the asking price of your home or property. That would mean that when you sell it you would bypass the whole 6% commission that the realtor would have charged and split with the other realtor that represented the buyer. Instead if you have a selling price of $220,000 you would have saved $13,200 on commissions that you would now have for yourself. Isn't that a great situation? You also do not have the conflict of interest that is inherent in a relationship between a seller and a realtor.
They get paid when a property sells so the faster that takes place the better off they are. Referring back to the same example as above, if your home is listed for $220,000 and an offer comes in for $210,000, the realtor would want you to take it. The reason is that while that is worth $10,000 to you to wait for the $220,000, it is still worth $6,300 to the realtor in commission where waiting another couple of weeks or a month for the full price would only net them $300 more dollars after they split it with the other real estate agent. There real incentive is to get the deal done, not to get you the most money.
There is a downside to selling your home on your own. It does take real work and real preparation including staging and showing your home to prospective buyers, and negotiating the terms and price of the sale. This is okay though because there are companies out there to help you handle these parts of the process as well as to help you get the most for you home that you can. Be sure to consult a good and competent real estate attorney before making the decision as they will be able to help you through the process and understand the legality of what you are trying to do and what things to look out for.
Most Real estate agents will try to convince you that you cannot sell your home without one, with the advent of the internet the ability to list your home online has gotten so easy that you could have your home in front of prospective buyers within just a few minutes. This is important because before the internet became commonplace only real estate agents had access to the MLS or multiple listing service and that kept many of the homes out of reach of people who did not have a real estate agent working to find them a home or property or working to sell their home or property. When deciding to list your home or property on your own you should do research on your area and what services are available to help you. Working with a For Sale By Owner company may be the right thing for you to do. Be sure to check into them on the internet and also to check out their website.
This will go a long way towards helping you understand their philosophy and the best practices they use to help you sell your home without the high commissions associated with real estate agents or the traditional way of selling your home on the Multiple Listing Service. Just doing a search of For Sale By Owner and your state or city should give you several options to choose from that could be helpful. You could also ask friends or family for suggestions as to who they have used and how much they paid. Be sure to check into multiple services and again make sure to consult an attorney before making anything permanent. Now it is off to the races- Go sell your home and keep more money in your pocket. If you are considering selling your home in Cedar Rapids you should consider getting it listed on a page that specializes in Cedar Rapids Homes For Sale so that you can get the most exposure for your home.
About the Author:
Find more information about selling your own home and see what other home owners in Cedar Rapids find when searching for Cedar Rapids Homes for Sale.. Also published at Selling For Sale By Owner - Get a Huge Advantage.
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