In recent years, more and more people have moved from using real estate agents to sell their homes. There are many reasons why personal real estate sales are increasing. Let’s start by looking at some:
Get more money from sales
Maybe the biggest reason that the seller goes for sale by the owner is they want to save money at a commission fee. The average real estate commission changes from 3% at the lower end to 6 to 7% at the high end. When you talk about, say, a $ 500,000 house, it’s not a small piece of change. FSBO eliminates the commission of a real estate agent.
The commission price for you is even higher because the percentage is based on the total price of the house. When looking at your equity at home, you will find that the Agent Commission is usually a percentage that is much higher than 5 or 7%. That alone is enough to convince many people to sell by the owner.
Speed up sales
If the speed is more important to you than money, you can also do something else with commission savings: Lower the price requested for your home. If you know how much you want to ask with real estate agents, reduce commissions from it and ask for that number. Lower prices will produce faster sales.
For sellers of personal real estate motivated, lower prices may not even sell your home quickly. After all, you know the house is better than what real estate agents do, and you are committed to selling it. FSBO sellers can often sell faster or as soon as real estate agents.
Sell your house with your requirements
When you sell personal real estate, you are in full control. You decide the price. You decide where and how it will be advertised. You decide what and if a prerequisite is needed for potential buyers. Who can see the house and when they can see it done on your schedule and buyers, not on real estate agents.
Many people feel important to keep this control over the sale of their homes. However, it is your home and not a real estate agent: You must be the person who makes an important decision for what you think is best to sell your home.
Of course not everything is easy in private real estate. Because you take a lot of your own responsibility, it will take more time and effort on your part than if sold through an agent. Advertising and other expenses must go straight out of the pocket, because it will not be out of the Real Estate Agent Commission. You will also need a real estate lawyer who knows the ins and outs of the real real estate law to ensure that everything works with a book. If you are willing to overcome challenges, however, you can find a house for sale by the owner can be very useful.