Tips To Save Thousands With a DIY Home Sale

Wednesday, December 15, 2010

There are a lot of costs involved with selling a home such as advertising campaigns and marketing costs. You really don't need to add on the commission that you have to pay your real estate agent and lose that extra money.

You can save thousands of dollars by selling your home on your own. If you do some homework you can accomplish everything the middleman does and sell your home at a fraction of the cost.

While there are both pros and cons to selling a home, no one can argue that you will save a lot of money. Many industry professionals beleive that selling a home without a professional agent is possible, but you need to know both the good points and bad points to tackling that task.

Selling your home on your own - the prosWith the Internet becoming more popular on a daily basis, it can be used to market your home effectively. You don't have to scrape up thousands to print out brochures, magazine inserts or take out ads in local newspapers any longer. More and more people are looking online for a new home, and you will reach a more targeted audience by using this medium instead of the old-fashioned methods.

There are a lot of websites that give you the opportunity to put your property on sale with them. This takes a real estate agent out of the equation and puts sellers and buyers together directly.

Your have to pay approximately 2% to 3% as a commission once your house is sold if you employ a real estate agent. You may also have to cover all the costs for advertising and marketing the home. This equates to thousands of dollars, and it can all be avoided by simply taking charge of the sale yourself and seeing it through to completion.

Many countries like Israel, Germany, Italy, Canada and the United States are selling about 25% to 50% of all property through direct selling websites.

Some 'for sale by owner' websites are free, while others will charge up to $900 to list your property. If you need support with marketing and sales you may have to pay the higher cost.

Since the commission price does not have to be paid, it leaves room for more negotiation between the buyer and seller. This is further enticement for buyers to visit these websites and find a home that is being sold by its owner.

The cons of selling your home on your ownYou need to make sure that you understand everything completely before undertaking this significant task. You will have to make yourself more available for inspections, e-mails and phone calls regarding your property. You also won't be able to be featured on real estate websites that only accept home listings from agents that are registered.

You will still need to hire a real estate lawyer to make sure that all the legal aspects have been covered properly. You'll also have to present the home on your own and make up a few brochures that you can hand to guests that come to open houses.

You will be on your own when it comes to negotiations. Real estate agents are experts at negotiating the best prices. If you feel that you have a weakness in this area you can always contact a relative or friend to help you out.

There is no question that you will save a lot of money if you sell your home on your own. The only question you need to ask yourself at this point is whether you are willing to take on the responsibility of doing so. If you think about it, how much money will you be saving in the short amount of time that may be needed to get your property sold?

This article was written by William Eve. In between surfing, cooking and traveling William writes for a mortgage comparison and application service Home Loan Finder. Visit Home Loan Finder to compare home loans and find the right mortgage broker today.

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