Real Estate, Finance and Home Articles of Interest

Here are some important things to consider and do before you decide if you should sell your home yourself - and keep the Commission in your pocket!

Consulting a Real Estate agent about placing your home For Sale By Owner will probably result in their advising you against it, and they will tell you that it will take you twice as long to sell the home than if they helped you do it.

Do you remember, though, when you purchased your home? If your experience is similar to that of most purchasers, you were led around the property by a Real Estate Agent who asked you to complete some paperwork, and then you waited in an office while they did the remainder of the work, and then the Agent received the commission (at least 5 to 6 percent, and sometimes even higher).

Granted, the Real Estate Agent does not have a job that requires no effort, but if you are willing to work at it, you will have a good chance at succeeding to make a quick sale using the FSBO method.

The first step is to decide: is it a buyers or sellers market? The presence of more buyers and fewer sellers result in a buyers market, and houses sell faster. Sellers markets, however, may require the seller to make two or three extra mortgage payments during the time that it takes to locate a buyer, and the faster process of using an Agent might be a more desirable alternative.

Look at other homes in your neighborhood. How long have they been on the market? If they are not selling, you might want to decide to wait before you move out of your house until a buyer is found - giving you more time to sell, but also less time to move.

Secondly, do the necessary research. Potential buyers have numerous questions, and knowing the answers is important to minimize your frustration - and theirs! Locate a Broker online to do a valuation of your home, which is usually free, to offer proof of your home's worth. A Real Estate Attorney can identify the required legal papers and assist with the closing process. Check with the State Real Estate Commission to determine what documents are required to complete the transaction.

Locate a reliable Escrow company that can be recommended to hold the good faith deposit, and initiate negotiations with a Title Company. Although the buyers are responsible for locating a Mortgage Broker, as well as a company that will perform Escrow and closing functions, they may not be familiar with any companies who offer these services. Being able to make these suggestions is a kindness that will further your likelihood of appearing experienced, as well as of closing the sale.

To cut costs, advertise only when Real Estate Ads are most prominent in the newspaper, and if other open houses are going on in the immediate area, show yours concurrently.

If you have done all of these things and still are not encountering potential buyers, you may need to contract with a Discounted or Medium Service Broker, or possibly with a low cost Real Estate Broker (these resources may provide their services through the Internet). By using these agents, a seller might be able to advertise with a Multiple Listing Service. The extra cost required for contributing a picture of the house is well worth the investment. A written advertisement is completely inadequate to effectively list your home.

As a last resort - You might also consider working with a Buyers Agent. These Agents work for a buyer, and normally split the commission with the Sellers Agent. Since you are sellers agent in this case, you may get some help, and a quicker sale for 2.5 to 3 percent of the selling price.

To reiterate, compare the cost of paying an agent with that of an extended time required to sell the house. Three percent of $300,000 is still $9,000 in the perception of a Buyers Agent; however, considering that most agents will charge you 6 percent, you still save an extra $9,000.

Evelyn Grazini has written a variety of For Sale By Owner (FSBO) advice to help you sell your home fast! - Find resources, articles and a free report on "What to Repair and What to Remodel to Obtain TOP DOLLAR when you sell! www.fsbotactics.com/asale.htm