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By cutting out the middleman and selling your home yourself, you could walk away with tens of thousands of dollars more in your pocket. It just takes a little marketing know-how and a lot of entrepreneurial spirit.

“A lot of people who are selling right now are doing so because they’re changing jobs or changing lifestyles and they’re selling by owner because they know it’s going to immediately save them 5-6 percent on commission costs,” says Eric Mangen, a spokesman for ForSaleBuyOwner.com, a sell-by-owner listing service. “In today’s market, where prices have dropped by double digits in some cases, the cost of using a real estate agent is that much more expensive.”

Indeed, without a real estate agent, you could lower your asking price by up to 6%to comparable listings in your community and help sell your house faster.

Better yet, leave your price on par and pocket the commission that would normally go to the Realtor. (On a $350,000 house a 6% commission is $21,000.)

Who’s Doing It?

Despite the financial incentive and growing access to online listing services, the FSBO (pronounced “fizzbo”) market has been trending down from a high of 19% of the market in 1997 to roughly 13% today, according to the National Association of Realtors (NAR).

Sell my Des Moines house fast - call now (515) 303-2300

Some 81% of home sellers still use full-service agents, some 9% rely on limited service providers, including discount brokerages and the remaining sellers, and roughly 9% use minimal service (including FSBOs and those who pay only for the use of an MLS).

It’s worth noting, too, that some 40% of sales in that “minimal service” market are completed as a closed transaction, meaning the buyer already knew the homeowner as a friend or family member.

According to NAR’s Walter Molony, the majority of homeowners still rely on agents because their home is often their largest asset and they want an experienced professional on hand to protect their interests.

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Learn more about selling your house fast without an agent at: https://www.hithomesolutions.com/faq/

Indeed, some homeowners still require the help of Realtors to sell their homes. Among them are those who can’t be physically on site to show their property and those who are uncomfortable selling or promoting their houses.

While the real estate recession has some homeowners wary of selling solo, however, Molony maintains the sell-by-owner strategy is easier than most homeowners imagine -- and makes more sense today than during the boom.

“It takes education about your local real estate marketing, including recent sales activity and some knowledge of what’s currently on the market,” he says. “Other little things are more important today, too, like being more flexible with a buyer’s closing time frame.”

If your buyer needs to close within 30 days and you’re not ready to move, find an apartment and store your furniture. Be prepared to do whatever it takes.

The housing slump, of course, also makes it more important to market your home effectively.

Above all, that means listing your house for a fair price.

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It’s easy enough to find out what your home is worth. Sites like realtor.com, zillow.com, and homegain.com can help you review comparable real estate listings available in your neighborhood.

You should also ask a Realtor or two to stop by for a comparative market analysis. They don’t charge for the service, you can be honest about your intent to sell-by-owner (they’ll be waiting if it doesn’t work out) and they might even give you some good ideas on quick fixes to help you sell faster.

Once you’ve arrived at a fair market price, you can either list for that amount or, considering the growing inventory of available homes, discount your price just enough to position your property as a bargain.

For example, if your home would normally list for $450,000 with a Realtor, consider lowering your asking price by 3 percent to $436,500. If you’re really eager to sell, you could reduce by 4% and sell for $432, 000, while still coming out ahead.

With banks continuing to tighten their lending restrictions, it’s more important than ever to get your buyers prequalified or preapproved.

As the seller, you should demand a pre-approved mortgage letter with any written offer potential buyers make.

And, as with any real estate transaction, don’t forget to work with a lawyer or title company during the closing, to ensure both you and the buyer have a legal representative who understands the process and is looking out for your best interests.

Article credit: cnbc.com

Call us today for a fast, fair offer on your house: (515) 303-2300

Topic: Sell my Des Moines house fast

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