Selling solo: Smart choice or costly mistake?
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ATLANTA - If you’ve got a house to sell, then you’ve got a decision to make. And the decision you arrive at may cost you literally tens of thousands of dollars before you get done with your home sale.
Do you want to sell it yourself, put up a FSBO sign and try to save 6 percent? Or are you going to list with a broker, let them take care of everything, and know that you are in good hands?
Here to explain your options is Real Estate Expert John Adams.
Question: John, break this down... What do we need to know?
Adams: Selling a home is complicated. It’s a big decision, and you might end up losing money in the long run.
Pros and cons of using an agent:
PROS
- They do this every day
- Lots of good contacts like attorneys, inspectors
- Multiple Listing System gets wide exposure
- Professional Internet Marketing Expertise
- They are familiar with all the forms
- You have somebody in your corner
CONS
- They want 6 percent of the price
- At median price, that’s over $21,000
Pros and cons of selling solo:
PROS
- At median price, you save over $21,000
CONS
- You Don’t Know What To Do
Here’s the bottom line: If you feel confident giving it a try and if you have a good real estate attorney and if you are not in any kind of hurry, there is no reason you shouldn’t try to sell it yourself. You might save a lot of money.
However, if you don’t have a clue where to begin or if you are nervous about the whole procedure or if you are worried about having strangers in your house or if you are not prepared to engage in a full internet marketing campaign, you are probably better off hiring an agent.