selling a home is unlike parting with
any other piece of property
there are so many extra rules and layers
that a whole profession has sprung up to
handle them
real estate agents but while hiring a
real estate agent can make the process
much easier it can also mean that you'll
take home
less of the proceeds from the sale in
this video
we'll go through what extra work you
might have to do if you sell a home
without a real estate agent
as well as discuss the alternatives and
their pros and cons
why wouldn't someone want to hire a real
estate agent in return for easing the
process
of selling a home real estate agents
will often demand a fee or commission
which is usually expressed as a
percentage and taken out of the home's
sale price commission rates vary from
year to year and place to place but
typically
hover between five and six percent on a
three hundred thousand dollar home that
comes out to as much as eighteen
thousand dollars you could be foregoing
if you're thinking
of going it alone you may be wondering
what extra work will i have to do
there are several kinds of duties that
real estate agents
perform one of them is pricing real
estate agents can use
knowledge of a market to help set a
price if you don't hire one you may have
to guess for yourself
in recent years a number of online sites
have emerged to help people in this
process
another is marketing real estate agents
will advertise the home
and show it to potential buyers which
can increase interest
and drive up the final sales price a
third category of work has to do with
legal documents
if you're going at it alone you'll have
to prepare a home sales agreement
property disclosure form and deed among
other forms
if you don't want to hire a real estate
agent but want help with these
it may be possible to separately hire a
real estate attorney
so what are your options if you forego a
real estate agent
the first is known as for sale by owner
just like it sounds
you the owner are in charge of the sale
this
can be a good method to save money if
you already have a buyer lined up like a
co-worker or a friend
on the other hand you risk a lower sales
price because fewer people are likely to
know that your house is for sale
another category is called a flat fee
broker at its most basic level this
involves hiring a broker who can list
your property on an exchange like the
multiple listing service or mls
a comprehensive real estate listing that
remains the source of the vast majority
of home sales although laypersons
selling their home are not allowed to
make use of the mls
you can pay a broker a fee for as little
as 400 to list the property on your
behalf
some flat fee brokers will also offer a
menu of other services for a percentage
that will usually be less than one
a real estate agent will demand for a
comprehensive package
flat fee brokers can provide a good
middle ground for the seller who is
confident in the home's desirability
and just wants some exposure on the
other hand you'll be competing against
many other homes and in some markets
selling a home can start to feel
like a second job the third alternative
is an emerging option
that involves even less work than hiring
a real estate agent and is known as an
eye buyer
these are firms that use computer
algorithms to estimate the value of a
home and promise to buy it without even
seeing it
the firm handles the sale and deducts a
service fee
that is usually a bit higher than a real
estate agent's commission would be
some will offer you cash before your
home even sells
along with convenience selling to an eye
buyer may be helpful if you need to move
right away
you don't need to stick around for the
process and the eye buyer is also
responsible for costs like taxes and
utilities
while the home is on the market if you
already close
on another home but are still waiting
for yours to sell
you'll have a period where you are
paying those costs on two properties
the downside is a lack of control over
the sales price even if you think your
home could sell for far more
it's out of your hands you may be
leaving even more money on the table
than you would be by hiring a real
estate agent were e-forms the biggest
online database of legal documents
including
many of those needed to sell your home
click the link and get started on yours
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