If you search online for tips on how to sell your house by owner, you’ll be rewarded with millions of sites, within literally half a second. But are you getting the whole story from these bits and pieces of advice? Maybe, and maybe not. There are many aspects of selling your home on your own that simply aren’t covered in the mass of pages telling you to “stage your home attractively” and “don’t forget the signs at intersections”. There’s much more to the process, and you might not be prepared for everything you need to know in order to successfully complete the transaction.
You’re probably considering selling your own home in order to try to save money on agent commissions, right? But did you know that it’s often customary to pay the buyer’s agent 3%? The reason for this is that if you had a seller’s agent there would be a 6% commission being split between them. Not all buyers and their agents will require this, but it may very well come into play and you won’t know until all of the negotiations have taken place.
Another thing you may overlook when you’re researching how to sell your house by owner is how vulnerable you’ll be in negotiations without anyone on your side. Even though you’re paying the buyer’s agent’s commission, their job is to get the best deal for their own client.
When deciding whether to sell your home yourself, it’s vital to get down into the nitty gritty and know exactly what you’ll be dealing with.