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Should I Sell My Own Home?

Jun 18, 2008
If you are trying to dispose of your house for whatever purpose, you may be undecided on whether to use an agent or sell it personally. It is never an instant decision, because it is always between less hassles of selling and more money. To help you decide, below are some tips on advantages and disadvantages of either option. Only you, however, can determine which will be suited to your needs and situation.

Benefits of selling by owner

Homes for sale by owner (FSBO) are few in number in the real estate business, although there are sales like that. Homesellers mostly opt for this method because they would like to pay no commission and retain control over what to say when salestalking. Some simply are undecided about selling, or like to reminisce over the sentimental value the home has over them. But most seek a professional seller when they decide to sell their homes

Own-home selling allows you keep for yourself what the agent would have taken as commission. What they do you can also do, like advertising, researching market values to know the prevailing selling price, conduct open house tours, tell aspiring buyers important information about the house not easily seen or known by the agent, that can add value to the house.

Disadvantages

But naturally there are cons. Professional real estate agents have a feel for the industry and can utilize resources as well as knowledge in their occupation. While the houses differ in size and prices, the ways of selling remain generally similar, and they use it to sell. Sales talk is not easily learned, and buyer objections not easily overcome without good training and experience.

Furthermore, agents might have lists of prospective homesekers already at hand, which perhaps is unknown to a FSBO homeseller. They also perform open house tours, negotiation procedures, and other selling tactics with greater ease and confidence. Connections with associates at City Hall don't hurt, either, and the required documents are easily filed and recorded. Connections with the financing agencies, banks and insurance firms also help the buyer agree to buy if professionals can sell the house faster and more readily.

Lastly, occasional home sellers who sell without enough research often commit serious mistakes they regret later. An example is on costing. Some overvalue their homes bacause of personal reasons, and find it out later after so much effort and money has been spent in trying to sell it. Others undervalue their property and were taken advantage of by unscrupulous individuals, especially agents or brokers. They know the industry rates and bargain down the seller to still-lower prices. And still others scam the novice seller through plans that net the poor guy with almost in selling your own home yourself. Whether to do it or not depends on your own set of circumstances and conditions. So ultimately, only you can decide on it.
About the Author
For great tips check out the new construction forums ! BuildBible.com is the leading resource for paint tips for your home and relocation !
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