Advantages And Disadvantages Of Selling A Home On Your Own

Posted November 27, 2007

Special Contribution By Jared Lee

Traditional way of selling a house is to approach a real estate broker, who will assess the value of the home and then put it up for sale. A homeowner intending to sell his house needs to pay brokerage commission to the real estate broker for getting the house sold to a prospective buyer. Most homeowners find this to be a convenient arrangement. Selling of a real estate property requires excessive knowledge in the field of real estate and high degree of commitment that many people find it hard to maintain. However, less than 20 percent of home sellers tend to go out of their way and try selling their houses on their own.

Listed below are some advantages and disadvantages of selling of a home on your own.

Advantages Of Selling A Home On Your Own

The most significant advantage of self selling is that no brokerage commission has to be paid to the real estate broker. You can take an active role in the self-selling process and the entire real estate transaction is controlled by you. However, you need to study hard so as to avoid any mistakes. By this, you can gain immense knowledge about various ins and outs involved in a real estate transaction.

Disadvantages Of Selling A Home On Your Own

1. When a seller intends to sell the property on his own, he should be able to promote the property so as to obtain a best deal. Promoting a property involves good marketing and advertising strategy, which can be expensive. Seller has to bear all these costs. In order to have the property listed on the MLS, one has to pay.

2. If the seller does not have negotiation skills, the entire transaction can be a loss.

3. Lack of experience can result in having the house under priced or overpriced. One needs to gather information from the neighborhood and the area so as to get a preliminary estimate on the home’s value. One can even get the property valuated in order to find its real worth.

4. In case of self-selling, all the paper work must be handled by the seller. While negotiating, one has to rely completely on his instincts. These instincts can sometimes be beneficial and sometimes become useless.

Check Out More Articles by Jared:
Realtors and Agents for Buyers, Highrise Investments Las Vegas, Home Selling Tips By Owner
Article Source: http://EzineArticles.com/?expert=Jared_Lee

Thinking of selling your home? If you decide to sell by owner, contact me for marketing by owner ideas and techinques. If you want to work with a broker, let me help you find the right real estate agent in the Charlotte area to help you sell your home for more money!