How to Sell Your House Without Using a Realtor

For Sale by Owner?

Save the 6 percent commission that real estate agents charge by selling your house without a realtor. When you add it all up, that's $6,000 on the sale of a $100,000 dollar home.

Things You'll Need

• Patience
• Flexibility
• Good Communication Skills

Instructions

1. Determine how much your home is worth

   Before any owner can contemplate selling their home, they must know what price they need to get for it. Arriving at a selling price can be a difficult step, due to the emotional nature of home ownership. However, it's important to remember that you house is only worth what a buyer will pay for it. With that in mind, find out how much you still owe on your mortgage. This amount is the bare minimum price you can accept when you sell. Also, if you've owned your home for several years, you should have a substantial amount of home equity built up. Consider this fact when setting a selling price. Comparable home values for similar homes in your area can be found at websites realtor.com and zillow.com. Use these values as a guide when setting your price. It's also important to remember that you are saving the six percent real estate commission by selling your home yourself. This means you can set your selling price lower than other sellers and you may be able to attract the attention of a buyer quicker with your lower selling price.

2. Advertise your home for sale

   Placing ads in your local newspapers real estate section is one way. Also, remember sites like craigslist, and ebay. Another option is to use a web service like forsalebyowner.com to list your home. This gets your listing out in front of many buyers and it is still cheaper than using a real estate agent or realtor. Many times these internet based services get your home listed on your local Multiple Listing Service (MLS) for a fixed, flat rate fee.

3. Be prepared to work

   Bypassing a realtor when selling your home can be a good way to save money, but you will have to be ready to step in and do some of the hard work that is usually done for you. Be prepared to take numerous phone calls from curious home buyers. Be ready for showings and tours of your home on most weekends. Be ready to deal with rude people, overly friendly people, people that want to haggle, and those that are "just looking". Remember, selling a home on your own isn't always easy, but the savings may be worthwhile for you.