One of the biggest decisions that you’ll make – second only to the one to sell your house – is whether or not to contract with a Realtor or sell your own house yourself. There are pros and cons to both sides, and good reasons why you might choose either one. So, should you try to sell your house yourself? Let’s take a look at some of the specifics below.
To start with, let’s look at some of the reasons why you may choose to sell your house without a Realtor:
- You haven’t owned the house that you’re selling for very long. In most cases, owning a home for only a short period means that your equity in the house is low. The lower the equity, the more a Realtor’s commission will cut into any profit that you might realize from the sale of the house. If the sale won’t net you enough to pay the Realtor’s commission, selling without a realtor is your best choice.
- You have the money up front for advertising and listing costs. Without a realtor, you’ll be responsible for advertising your home for sale. These costs will include newspaper ads, printing costs for flyers, listing costs with Internet FSBO web sites and the price of signs to attract buyers. While this typically runs into hundreds of dollars, it’s still a great deal less than the commission you’d pay a realtor.
- You have the time and availability to take calls from prospective buyers and show your house. Plan to be available to take calls regarding your property for sale at all hours, and schedule tours at times that are convenient for prospective buyers – and not necessarily you! A flexible schedule will make it far easier to show your house and get it sold quickly.
Typically, a homeowner who chooses to sell without a realtor will spend between 2% and 3% of the eventual selling price of the house on sales-related expenses.
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