Selling A House Without Breaking The Bank

Realtor commissions can cost a lot

Realtor commissions can cost a lot. Here's a primer on how to sell a home for free without commissions.

Selling A Home For Free

When people think about a real estate sale, they would dread dealing with the real estate agent. And real estate agents have to be paid a 6% commission. There has been a marked increase in the number of people who sold their homes without using agents in the last 5 years.

A real estate property sold without an agent is called a FSBO (for sale by owner). If you take a look at the real estate classifieds in the Sunday edition of your local paper, you should see plenty of FSBO listings. There are now more and more websites that enable homeowners to list their houses for free viewing by the public. This is giving rise to a fundamental change in the real estate industry.

Prior to the Internet exploding onto the scene, selling or buying real estate could be a major time killer. You would have to sign on with a real estate agents so your property would be listed in various listing services. If you wanted to find a buyer, you needed to be in the listing and have open houses and so on.

Many buyers, however, now look to Internet listing sites to develop a list of homes they are interested in. These sites usually contain detailed information and photos of the homes. Put another way, the buyer no longer has to spend entire weekends looking at homes that simply don't interest him or her. The buyer can now do all of the initial work online. Should a buyer come to see your home, then you know that he is really considering buying it and is just coming by to check how accurate the photos and details of your house were.

The internet can make agents unnecessary. Why pay six percent of the sales price as a commission when buyers are coming from online listings of the site? Sellers could just make the listings online, and they only cost about $25 to keep up. With this being the case, why would you pay a commission to an agent?

If you're looking to sell your home without paying for real estate commission, then the internet is your answer. The transactions are straightforward, and you can get all the forms that you need in a book store.

by: Samuel Lasater

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