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Should your Sell your Home yourself?
Should you sell your home yourself? Yes and no. Yes, you should
leave the option of selling on your own open and no, you shouldn’t
rule out using the services of an agent to help you sell.
There are a considerable number of advantages of using an
agent to sell your home but their services do come at a price
– up to 6% commission on the sale price! That’s
quite a sum, a precious $6,000 for every $100,000 your home
is worth. Agents are not indispensable. With the advent of
the Internet, a fairly sizeable number of owners have been
able to successfully sell on their own. Statistics have it
that 80% of home buyers begin their search for a home online.
So, putting your home details on the Internet is one effective
medium of advertising your home and reaching out to a large
number of buyers.
So
now, how would you go about doing the ‘yes and no’
at the same time? Well, agents may not tell you about this
but there is a type of listing arrangement you can have with
them, known as an ‘Exclusive Agency Listing’. Under
the terms of this listing, they would be the exclusive agents
handling the marketing of your property and should they or
another agent find a buyer for your place, your listing agent
would be entitled to a full commission. This type of listing
would also have the agent put your property on the MLS (Multiple
Listing Service). The other side to this listing arrangement
is that, if you find a buyer yourself, you don’t have
to pay any commission to your agent! So, the answer to yes
and no lies in going for an Exclusive Agency Listing. You
would be keeping the option open of finding a buyer yourself,
through the Internet listings of your home, while on the other
hand, should your listing agent find you a buyer, you would
have to pay the commission but you’re getting your home
sold in the process.
So where should you advertise and list your home? There are
plenty of websites which offer to list your property. Two
well-known and frequently visited sites are ChoiceOfHomes.com
and ForSaleByOwner.com. I suggest not listing on only one
but listing on at least a couple of these sites, if not more.
It doesn’t cost much and especially when you consider
the money you’d save in commissions from finding a buyer
through these sources.
Happy Home Selling!
About the Author
Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com
- Find Homes for Sale and Apartment Rentals.The website is
a useful resource of Home Listings, Articles and Information
related to real estate.
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