Listing A Home
For Sale By Owner Or Listing Agent
Thinking of Selling Your Home Without a Real Estate Agent?
Read this First!
“For sale by owner” can be an appealing phrase when it comes to selling your home. Since you
don’t have to shell out any listing agent fees, you could walk away with some extra profit. But
make sure you know what you’re getting yourself into if you decide to put your home for sale by
1. It’s a Lot of Work.
If you put your home for sale without an agent, be prepared to put in a lot of man hours.
You will need to do all of the advertising, paperwork, and negotiating by yourself. There
are a lot of steps and details involved in selling a property, so it is not for the faint of
2. There are Still Fees to Pay.
While you won’t have to pay a commission for a listing agent, there are other areas where
you will likely spend money. In order to be listed on certain websites and databases,
including the Multiple Listing Service (MLS), you will have to go through a listing
service and pay them a fee. You will need to pay for advertisements and you may need to
pay a commission fee to a buyer’s agent. If you aren’t handy with a camera, you may
need professional photographs of your home for ads. You may also need a real estate
attorney to help with paperwork and any legal issues.
3. How Will People Know it’s For Sale?
When you list your home with a real estate agent, you avail of their marketing resources
and their extensive network of potential buyers. If your home is for sale by owner, you
need to advertise your home extensively. Placing well-worded ads online and in
newspapers are an effective option, as is putting a sign in your yard. Keep in mind that as
an individual, you cannot submit your home to the MLS database. However, there are
some companies that will list the home for you for a fee.
4. Do Your Research.
Be sure that you price your home correctly. If you invent a price based on what you think
your home is worth, you may be disappointed when it fails to sell or when you learn that
you could have gotten more money for it. You will need to find out what real estate has
recently sold for in your area and what the current market is like. You may decide to pay
for a home appraisal to give you a better sense of what you should be asking for.
5. Screen Buyers.
Without a real estate agent to help you, you are in charge of screening potential buyers.
Unfortunately, it isn’t wise to accept buyers based on their word. If someone tells you
they are prequalified, verify it with their lender. A sale can easily fall through if a buyer
is not qualified, wasting valuable time when your home could have been on the market.
Another advantage of having a real estate agent is that they have a network of lenders
they can send buyers to if their credit is not so desirable.
6. Be Ready to Deal with Buyer’s Agents.
Negotiating requires skill and when you are selling a property by yourself, you will need
to negotiate on more than one level. Negotiating the price of your home is one thing but
you also need to be prepared to negotiate an agent’s commission. While you may not
have to pay a listing agent, tradition dictates that you pay a commission to the buyer’s
agent. You may need to negotiate this with the buyers and the buyer’s agent and the price
of your home may reflect the commission. If you do not offer a commission for a buyer’s
agent, you may limit the amount of agents who are willing to show your property.
7. It May Take a Long Time.
Since you may not have the same network or advertising power as a real estate agent
does, it may take longer to sell your home. In addition, you have to be available to show
your home to potential buyers, adding to the time commitment. Studies show that if you
are able to get your home listed on MLS, your home may sell quicker. It is important to
be patient and proactive when it comes to selling your home.
If you are interested in selling your home, consider all of your options. Movementum Realty of
Duxbury, Massachusetts is committed to selling our clients' properties in a timely manner and
demanding a fair price. If you would like the guidance and support of an agent through the
selling process, Movementum has agents ready to assist you in selling your home.
Do you still not want to list your home for sale? Then please send us your listing direct so we can make sure to show our extensive network of buyers interested in homes for sale.