When most people decide to put their home on the market for sale they will generally go through an estate agent for help, in the same way you would go through a mortgage broker to obtain a mortgage. Real estate agents are hired to market and sell homes. But it is not the only way that a house can be sold.
More People Are Doing It Themselves
With the market slumping and prices falling more and more people have decided to try selling their home by themselves, using a For Sale by Owner. Selling your home by yourself can be a positive or a negative experience. Knowing what to expect and how to handle certain situation will help make the experience more successful and less stressful.
Why People Use For Sale By Owner
People turn to a For Sale by Owner option for different reasons. The most popular reason is an attempt to save money on real estate commissions. If money is tight or a homeowner owes the bank close to what their home is worth then the percentage of money that a real estate agent takes from the sale of the property can leave the homeowner belly up after the sale. Some people may feel like they can not afford to hire a real estate agent or they do not want to relinquish any of the profit from the sale of their home to anyone else.
Property owners also may decide to try a For Sale by Owner when a real estate agent has failed to sell their home in what they consider a timely manner. If a listing through a real estate agent has been unsuccessful, homeowners may decide to try to do it themselves.
In the next installment, we will look at some more aspects of selling your home using a For Sale by Owner.