Profile picture for cadonga

how to sell a home by owner

  • June 18 2013 - Coral Way
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Answers (4)

Profile picture for Dunes ..
The Profile of Homebuyers & Sellers is put out each year by the National Association of Realtors
It's a survey not an study..
The last Survey had a response rate of 9.1%
93.502 questionnaires sent out and 8,501 responses
2012 Profile of Home Buyers & Sellers
Check it out if you wish and give the statistics presented whatever value you feel they deserve

cadonga..
If you haven't already I'd suggest you read the Information about options that you have that is on the Department Of Justice Anti-Trust Division Web Site
New business models are emerging that allow consumers to save thousands of dollars when they buy or sell a home

If you wish to Post your FSBO on Zillow that is Free


For Sale by Owner ... Zillow/Yahoo
Process to use here on this Site

or another free option

Postlets..owned/operated by Zillow
Zillow/Yahoo and other RE Sites list of syndication partners

Might wish to give this a look..

Zillow Help Center

Good Luck
  • June 19 2013
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Profile picture for Ruslan124
I would recommend you do some research

http://homebuying.about.com/od/sellingahouse/qt/0307SaleByOwner.htm

Asking here is going to get you a bunch of self serving answers. The site is populated by Real Estate agents that will tell you don't do it.

My advice is research what needs to be done and if you are confident and smart go ahead. If you really have no idea what to do, hire a professional. Make sure you choose wisely on the agent and remember commissions are negotiable. 
  • June 19 2013
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I talk to families all the time who are trying to sell their homes "by owner".  It is risk versus reward. It is not uncommon for sellers to think they will save money by selling their home "by owner" and that the process is not very difficult. The perspective is that the risk is low and the potential reward is high.

However, the reality is that the risk is very high and the potential reward is very low, or more often, not even there. According to the 2010 NAR Profile of Home Buyers and Sellers FSBO homes sold for a national average of 28% below the price of those sold by Realtors. It is a matter of market knowledge, professional industry experience and the ability to market to a broad group of interested and qualified buyers through your local multiple listing service (mls). Selling "by owner" will not allow you access to those most importance benefits.

It is a common misconception that there are no costs involved if you sell your home yourself. The reality is that you will still have many of the same expenses from title insurance, repairs, VA or FHA pre-paids and non allowables and will most likely still have to pay real estate fees for the buyer's broker. You end up still having many of the same expenses selling FSBO but you don't get any of the benefits of being represented.

We all like to think that every transaction is smooth but the reality is that there are always some potential obstacles, inspection challenges or appraisal issues that need to be addressed before the sale can be completed. The transactions look smooth because the professionals handling them have the experience and knowledge to handle them and move forward. The resources provided by a real estate professional are invaluable in these cases.

In addition, when you sell your home yourself you are liable if and when things don't go as planned. You need to be able to handle negotiations, contract deadlines, appraisals, inspections, surveys, insurance policies and lender correspondence. When hiring a real estate professional you can be assured not only that you will get good advice, industry contacts and maximum marketing exposure but it also removes the seller from direct liability from the transaction. Your real estate professional will make sure that you comply will all local, state and federal laws while still getting you more money for your home than you could on your own.

The risks of listing your home on your own are numerous and potentially very costly while the time, energy and money saved by hiring a real estate professional will more than pay for itself. Your local Realtor is an extremely valuable resource and should be considered an asset to get you more money rather than an expense of selling.

Best of luck with your sale. Please, take my advice and hire a professional!
  • June 19 2013
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Don't
  • June 18 2013
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