Many people are not necessarily that comfortable having to pay large commissions to a real estate agent when they are selling their home. If this sounds like a position you are in, then you might want to consider the option of selling the house yourself.
One of the first things you have to do is to figure out the cost of selling your house yourself compared to the cost of using an agent to do it for you. As a very basic example, if you are selling a house for $100,000, then you would be expected to pay out roughly 6% or 7% in commission. However, if you sell the house yourself then you can expect to save half of this, being $3000-$3500, if your buyer uses an agent themselves. If your buyer does not use an agent, then you could save the entire commission, that being between $6000 and $7000.
However you do, of course, need to factor in the costs that you will have to occur when you try to sell the house yourself. Such things as setting up a website, paying for marketing tools and materials, and also the overall cost of your time will all be incurred, and therefore you need to work out which is the best option.
You also need to be fully aware that if you go down the route of selling yourself then you will have to be available at all times to answer calls and to set up appointments for people to view your house. If you work a regular job or are very busy during the day then this could potentially put off buyers.
You also need to work out how much your home is worth and how much you are going to value it at. You can do this yourself by looking into your local neighbourhood and finding out how much various other homes have gone for over the last two years. However, this might be somewhat speculative, and therefore it is probably best idea to at least hire a professional to value your home for you.
Of course, you will need to actually get word out about the fact that you are selling their house, and therefore will need to create a bunch of marketing materials that you can distribute into your local area. Flyers and posters should be distributed all over the place, and you should advertise where ever you think prospective buyers may be located.
In addition to all of this, you need to make sure that you are going to be comfortable showing people around your home and handling the entire process yourself. It might also be a good option to hold open house days where people can pitch up and view your home without you having to show around individual people.
Information here was written by an expert in her field, Lisa Udy. Lisa is a hard worker and would love to share her ideas, please visit her website at Mendon UT Properties or Millville UT Properties to learn more.
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