Realtor vs. Selling It Yourself
Selling your home can be a stressful experience. You are simultaneously dealing with large amounts of money, bureaucracy and the emotional impact of leaving your home. Having a professional to help you with this process can make it much easier, but doing it yourself can save you thousands of dollars.
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Real Estate Agents
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When you hire a real estate agent, she takes care of all aspects of the sale for you in exchange for a commission, usually around 3 to 6 percent of the selling price of your home. Real estate agents are trained in all aspects of house selling, including advertising and promotions, negotiating with potential buyers, advising clients on how to make their homes more salable and completing all of the legal requirements to close the sale. If you are interested in an easy sale that doesn't take up a lot of your time, it's advisable to hire an experienced agent.
FSBO
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For Sale By Owner (FSBO) is a direct method of selling your home that doesn't involve an agent. The primary reason that homeowners choose this method is to keep all of the money when the home sells. Owners also have more control over the sale process and deal directly with potential buyers. If you choose FSBO, you need to make an attempt to be objective about your home. Many homeowners make the mistake of pricing their house based on what they want to get, rather than on the reality of the house and market conditions. FSBO can take up a lot of time and effort, so be prepared.
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Price and Negotiating
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In very hot real estate markets, houses sell for their asking price, but this is the exception. The process usually involves a series of offers and counter-offers as buyer and seller attempt to find common ground. If you are not experienced or comfortable with this sort of negotiation, hiring a real estate agent will save you the stress. On the other hand, a knowledgeable homeowner obviously knows the house better than an agent, and if he is well spoken and persuasive may be able to do a better job than a professional.
Legalities
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Even if you sell your house yourself, you will need to involve a lawyer to complete the deed exchange and other legalities. If you hire an agent, he will take care of these details. A house sale usually involves a title search, and often includes other requirements such as land surveying or septic tank cleanout. Each sale may involve specific details that have been included in the contract by the buyer or the seller. A complex sale may become overwhelming for an owner-seller if she is unfamiliar with the legalities of real estate.
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References
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