Selling a home is stressful, costly, and difficult. First, the house needs a deep cleaning. If you have pets or kids, you already know that deep cleaning only lasts for so long. Keeping it clean for showings is even more work. Then, there are the costs to consider. You may need to make repairs to pass a home inspection. You list your property with a realtor and, once it is sold, have to pay thousands of dollars in commission to both your agent and the buyer’s agent.
What if you could save money by cutting out the middle-man and selling your home on your own? You may have considered selling your own home without an agent, but were worried it would be too difficult. This may have been true in the past, but now there are great flat fee MLS services out there that specialize in helping sellers prepare, list, and sell their own homes.
What Do I Need to Consider When Selling My Home
- Preparation – Make sure your house is clean and all needed repairs are complete.
- Photographs – You will need clear, well-lit photos to highlight the best aspects of your home. Pro-tip: make sure your windows are spotless. Dirty windows always show in photos. You can take pictures yourself, but it may be worth it to spring for a professional photographer.
- Price – When you are pricing your home, be realistic. Research what comparable homes in your zip code have been selling for and price accordingly. Listing too high will do more damage in the long run because it may deter potential buyers from viewing your property.
- Listing – If you are going to sell your home on your own, research the flat fee MLS services available to make the process smooth and efficient.
How Much Does Selling On My Own Cost?
Do your research. Many for sale by owner services list their pricing on their websites. You can select the services you would like to have and pay only for those you use. If you are uncomfortable showing your home on your own, some flat fee MLS services offer agents to do the showings for you. You may also be able to purchase additional marketing, staging and showing consultations, and other services. Generally, you pay a portion of the fees upfront, with the balance being due upon the successful sale of your home.
How Much Money Will I Save?
On average, a real estate agent charges a fee of 5-6% for commission. Selling your own home eliminates this cost. One thing to consider, though, is you may still have to pay a commission to the buyer’s agent if you sell the property to someone working with an agent. This commission is typically around 2.5%. You can also choose to only work with buyers who do not have an agent. You would then not be responsible for paying any agent commissions.
How Will Potential Buyers Find My Listing?
When you use a flat fee MLS service, your home will be listed in the MLS. Buyers can find it by searching sites like Zillow and Realtor. This means your listing will be viewable on the most popular sites for buying and selling real estate. This will help you reach more potential buyers and, hopefully, speed up the sale of your home.
If you are planning on listing your home anytime soon, now would be a great time to research your options. While flat fee MLS services might not be the best choice for everyone, they can offer a user-friendly, lower-cost option than listing with a traditional agent which means more money in your pocket from the sale of your home.