With real estate agents’ commissions often as high as 6 percent of a home’s sale price, it’s tempting to hang out a “For Sale by Owner” sign and save the commission. After all, FSBO would put an additional $16,800 in your pocket if you sell your house for $280,900, the recent median single-family home sale price.
But selling your own home is hard work. It requires time, energy, market knowledge, and some up-front money, says Jim Remley, a Medford, Ore., real estate agent and the author of “Sell Your Home in Any Market” (Amacom, 2008). That may be why only 9 percent of today’s sellers attempt to do the job without an agent, down from 12 percent in 2006. If you plan to join that minority, use these tips for greater success.
Be sure you’re up for the job.
You must have plenty of time to show your home, have no problem negotiating, and enjoy the challenge of marketing your own house, says Brendon DeSimone, a real estate agent and the author of “Next Generation Real Estate: New Rules for Smarter Home Buying & Faster Selling”
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