Selling a House with or without a Realtor?
Selling a House
Most people sell a house one of two ways: by hiring a Realtor to list their house on the Multiple Listings Service and find buyers for them or by selling the property For Sale By Owner.
Selling a House|Realtor
A Realtor is hired to act in agency capacity of the home seller. A realtor will advertise your property on the Multiple Listing Service (MLS) which is where 90% of individuals go to search for a home to purchase. Real estate agents also have experience with pricing and marketing homes to sell and will help you determine the best price. Realtors can take care of all the negotiating and paperwork involved. he Realtor is then paid a commission for his or her marketing efforts when the house sells. The drawback to listing your home with a realtor is the sales commission (6% of the sales price) as well as the time that it takes to sell conventionally. Furthermore, while the REALTOR is listing your home, you must keep paying the mortgage, taxes, insurance, utilities, etc. as well as keep the home looking good for potential buyers.
Selling a House|FSBO
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Selling a house FSBO is when the homeowner sells the house For Sale By Owner without utilizing the services of a Realtor. The most common reason for selling a house FSBO is to avoid paying the Realtor their commission. Anytime an investor can buy or sell a house without paying commissions, the deal becomes more profitable. But even more than money, eliminating the Realtor as the middle-man in a FSBO transaction may be the difference between a successful transaction or no transaction at all. Many Realtors, while competent in the process of conventional transactions, are absolutely clueless as to a subject to transaction or owner financing. As such, the person selling a house may have to spend their time trying to educate and sell the Realtor on this type of transaction than they would the actual seller.
Selling a House|Conclusion
In conclusion, if you are looking to do a traditional sale, have equity in the property, and can afford the holding costs, then using a Realtor is the best way to sell a house. However, if you are looking to sell a property creatively, have a buyers’ list of your own, and understand all the paperwork involved, then selling a house FSBO may be a good alternative for you.
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