General Article

Many Different Phases of Real Estate Sale

So, you as a homeowner of that beautiful property close to highway is determined to sell it on your own. What owner doesn’t want to make this move? After all, you are going to save almost 8 percent commission the real estate agent would have otherwise be entitled to. For a $200,000 house, that amounts to $16,000. And for a half a million house, it is $40,000. Imagine all the things that you could buy with $40,000. Or look at it this way: $40,000 will buy you another investment property in a suburb with beachy barns that you could rent and save for your retirement. 

You might be thinking that selling your house on your own is the best thing you can do for your pocketbook. But think again. You are embarking on one of the two journeys – a well-lit road that is smooth and direct, and the other one on the country side with bumps and potholes. If you are on the latter road, the entire process of house sale is not as easy as you think. However, your own situation will tell you which road you are on and which you will be taking. For starters, selling house on their own can be an exciting thing, there is a substantial reward in doing so if they are doing it with precautions. One point to remember though: there is also much to lose, like you will be missing out on opportunity to list your house on MLS service circuit. Most house hunters accompanied by agents are exposed to MLS listings, so it will take a while for them to know the presence of your house in the market. 

Still if you insist on giving it a try, know that there are certain things to learn beforehand. First of all, remember that this is not a permanent solution to saving money. You can always go back to choosing a real estate agent for the task. For this, listen to agents who will call after the listing is up. They will send out the signal about how the market is doing. It will give you insights into what buyers are looking for and whether or not the agent’s firm matches your criteria. Ask questions and answer their questions promptly. Since there is no obligation to these agents, you are likely to get information from them without any prejudice. In other words, keep in touch with the agent professionals whenever you can. 

The second thing to remember is to strictly sell the house on your own if that is what you choose. This means not allowing the agent to show the property to prospects through agents. It might sound tempting to agree to an agent who is requesting an open house for his or her clients. After all, there is no written agreement, right? Wrong! If one of the clients associated with the agent purchases the house, you will have to shell out commission to the buyer’s agent. The agent will have all grounds to file lawsuit if you don’t.