A growing number of real estate for sale by owner by themselves. The accepted practice has been to get an agent and wait for updates. However, this can be a costly route. Younger people, especially from urban areas, are turning away from this and doing it all by themselves. Older people try this as well but it’s the millennials who are having more luck in closing sales. Perhaps it’s because of their tech savvy in this digital age where listings are all online. Maybe they are just more open to alternate methods of selling property. Although this is not an easy thing to do, those who are successful in real estate for sale by owner will enjoy the following benefits:
Avoid Commission Payments
Most agents will ask for a 3% commission for their work in selling the property. Some might ask for more while others will settle for less. It may seem small but that is equivalent to tens of thousands of dollars on most listings. Thinking about this, it is apparent why urban dwellers would rather do things on their own. It is not uncommon for homes to be worth half a million dollars or more in such areas. They would be giving up a substantial sum if they hired an agent. Since the demand for homes in those places are high, they should not have trouble getting calls from interested parties.
Exercise Complete Control Over the Listing
When you are the one directly selling your house, you have complete control over the details of the sale. You can pick the sites where you’ll advertise your home. You can set the list price depending on your valuation of the property. Of course, this should be based on solid parameters such as the purchase price, the improvements made, the current prices of comparable units within the area, and the prevailing market conditions. This can always be adjusted based on the demand for the house and its time on the market.
Manage Your Private Tour Schedules
With an agent, you will need to coordinate with them regarding the schedules of viewing. You can accept private tours as well as open houses. You may not always have the same free dates which can complicate matters. Agents may also spring these appointments last minute which could be disruptive to the household. You would need to clean up, get organized, and step outside in some cases.
