How to conduct a For Sale by Owner in Orange County
Though it’s the exception rather than the rule, selling a house without an agent can be done. With some hard work and good research, you may be able to save a lot of money — up to 7 percent in some cases. Keep in mind that those savings can be hard to achieve and are very market dependent, especially if brokers are cutting their rates.
Beyond possible savings, there are other good reasons to try selling your house on your own.
- You know your home best and may be able to communicate its benefits and history better than a broker who has only recently come onto the scene.
- Conducting your own home sale also gives you complete control.
- There’s no wondering if a broker is being honest with you, nor will you have to deal with someone telling you how to handle your home.
The savings on commission could lead to a lower sale value. Also, understand you are selling a very emotional and complicated asset, so make sure you have the means and the time to allocate to the task.
- You will have to contend with a lack of exposure — you probably won’t have access to MLS or a broker’s contacts.
- Buyers are also usually more comfortable dealing with a broker. Be prepared to settle for a lower sale price than you might get with an agent.
- You will have to place ads on your own, schedule tours, personally negotiate, and find and book any needed professionals (inspector, lawyer, title company).
- In a competitive buyers market like we are seeing today access to multiple marketing strategies that a Realtor offers may be your best answer.
- Cash offers are coming from all over the world and extra exposure could give you an extra lump sum.
- Also, not understanding the current market trends can lead to pricing your home too low or too high loosing out on some potentially large gains.
My suggestion is to consult a couple professionals first and get their opinions. Still, if you feel up to the job, don’t let those reasons deter you! You can indeed save money, and acting as your own agent can be a satisfying experience.
processSilverman, Jacob. “How Selling a House Works” 06 December 2006. HowStuffWorks.com. <http://home.howstuffworks.com/real-estate/house-selling.htm> 28 March 2013.