Selling your house can give you quite a headache because not everyone knows how to do it properly and what method will best suit them and their lifestyle. There are basically two ways through which you can sell your house. You can hire the professional services of a realtor or you can sell your house through the ‘for sale by owner method’.
Hiring a realtor to sell your house on your behalf is a rather costly option than selling it for sale by the owner. It involves a lot of processes and you may end up spending more money and quite some time before your house sells. First; you have to go through the classifieds to get the contacts of a list of real estate agents who you think can satisfactorily do the job for you. Once you get this list, call or visit each of them and pick out the one who you feel will do the job best. You then discuss with this realtor the terms and conditions around the sale of your home. When this is settled, the realtor will then add your house to a list containing all the other properties he/she has to sell for other clients. This list is known as the Multiple Listing Service (MLS).
Due to the long list of properties waiting to be sold, it might take some time before your house gets a willing and suitable buyer. The realtor will also communicate with you regularly informing you of the potential buyer and your opinion on their offers for the house. You need to spend some time involved with the sale process. With your consent, the realtor will strike an agreement with the most worthy buyer with a deal that suits your situation and your house will have finally been sold. When the house is sold, the realtor will get his/her cut of the sale as a commission; usually ranging from 1 to 3 percent of the house cost at the closing of the sale.
When your house is for sale by owner; you need to identify a number of media through which you can advertise your house for sale. This can be the local classifieds commercial websites or even pitching a ‘For Sale’ signboard right outside your house. When advertising your house, make sure you add your contacts in the advert so that interested buyers can call you to negotiate a sale deal. For sale by the owner costs way less than when you hire a realtor to sell the house for you because you do not pay any service fee or commission for the sale.
In a for sale by owner, you enjoy total control over the whole process of selling your house which will give you satisfaction that your house was sold to the best available buyer and at the best price you could sell it for in the current market. You end up saving quite a lot of money in the long run and also get value for the time you invest trying to get a qualified buyer for your home.
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