Sell your home on your own and you won't have to pay the seller's commission.
With housing on the rise, more sellers are flying solo, says Eddie Tyner, general manager of ForSaleByOwner.com. The appeal of FSBO: skipping the seller's agent commission, usually 3%, when houses seem to sell themselves.
It's not that easy, of course. You probably should put your home on the multiple-listing service, which displays more than 90% of homes for sale; do that via sites like ForSaleByOwner.com or Owners.com.
You must avoid the mistake of turning people off with a steep price; your listing, per square foot, should be within 10% of that of similar homes nearby.
And you may not be up to the job. It requires a serious time commitment and unemotional negotiations.
Plus, you'll have to overcome a perennial worry: Could an experienced agent have fetched you a better price?
What selling a $300,000 home costs:
You can pocket extra cash by selling your home yourself... if you can get the same price a broker would.
With a broker: $20,000
On your own: $11,000
Notes: In both cases, seller pays buyer's agent commission; miscellaneous expenses are for photos and open house; without a broker.
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