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Should I sell my home on my own?

Posted by  on Apr 16, 2009
 
Thinking of selling your home but not sure whether to hire an agent or “do it yourself”? There are advantages and disadvantages to both. Sure, you could save about 7% in fees by selling on your own but is the stress really worth it? Selling on your own also leaves most of the advertising costs, marketing, paperwork and legal forms on the shoulders of the seller.

Unfortunately not properly filling out paperwork or not fully disclosing information or overlooking something may often times end up in legal suits from buyers. If you are determined to sell on your own you should definitely consider speaking with a financial advisor and an attorney to ensure both your legal and financial aspects are covered. Also do some research on the “selling process”, be sure to familiarize yourself with the forms, housing laws and even the current market. Selling on your own allows you to be in complete control of the transaction process. You may even sell your home faster as you can set the price based on prospective buyers. After all, who knows your home better then you? Unfortunately selling on your own can be a true hassle. You need to set a fair market price, place ads, return phone calls, hold open houses and negotiate with buyers. And if that isn’t enough, you probably have a full-time job as well. An agent will market your home and make sure that it has maximum exposure to potential buyers. A “good” real estate agent will have your best interest in mind and the burden and stress will be on his or her shoulders opposed to yours. Agents are also familiar with the laws and the dreadful paperwork involved in selling your home. A real estate agent usually isn’t as intimidated by the buyer as a private seller would be. This comes with training and knowing just the knack to get information from a buyer without being offensive. There is no right or wrong answer here but making the wrong choice for your particular situation can increase your stress levels and make the entire process a nightmare.

If you choose a real estate agent, make sure you do your homework and research the agent and/or firm. You may also want to read our article “How to choose my real estate broker”.

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