Nearly a million homes are sold each year by their owners. In other words, as much as 20 percent of residential real estate transactions are handled without the use of a real estate agent or broker. And while selling your own home can be hard work, taking on the job yourself is definitely worth it. Here are just three of the advantages of selling on your own:
1. It Can Save You Money
Traditionally, 4 to 6 percent of the sale amount goes toward commission — half to the buyer’s agent, and half to the seller’s agent. This can really add up when you are making a purchase as significant as a home. For example, if your house sells for $200,000, the seller’s agent will receive, on average, between $4,000 and $6,000. Selling your own home without the use of an agent means that you can save on these commission costs. Additionally, if you choose to sell with a site, such as Owners.com, which doesn’t charge a traditional seller’s commission, not only do you save, but you also have access to a dedicated personal adviser who can help you throughout your home selling journey.
2. It Can Give You More Options
Since you’ll save money by not having to pay a traditional commission to a seller’s agent, you can consider using those saved funds to make your listing more competitive — which is especially useful in high-inventory markets. For example, consider using your commission savings to either slightly increase the buyer’s agent’s commission or slightly decrease the list price of your home. These tactics can help motivate agents and make your home more attractive to potential buyers.
3. It Can Help You Maintain Control
Finally, selling on your own puts you in the driver’s seat. You get to set the best price based on your insider knowledge of the neighborhood, decide when (and if) you want to have an open house, and pick the times for showings and the places to advertise your home to reach potential buyers. Being in control also means you’re not sharing an agent’s time with dozens of other buyers and sellers. Instead, you can spend your time concentrating on one sale — your own — and market your home like no one else can do. And if this is your first time selling a home, know that Owners.com will make it easy. You will have all the information, templates and materials you need in one convenient location, and your trusted advisers will help you every step of the way by providing advice on best practices for a successful sale.
Selling your own home takes work, but the advantages that come with it make it worth the effort. If you are ready to start the buying or selling process, head to Owners.com to get started today.
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