Sell Your Own Home – Private Real Estate

Have you ever wondered how much work goes into selling your Private Real Estate? I hear that agents work 7 days a week 12 hours a day selling property. If an agent were to sell around 15 Private Real Estates at any given time, then they would spend about 6 hours on average per property.

Selling your home without the help of an estate agent saves thousands of dollars and there are plenty of great internet resources to help you if you need it. Saving money is the biggest reason sellers are turning to “for sale by owner”. The average commission paid to an estate agent is a whopping $15,000 per sale. You may also have to pay anywhere from $3,000 to $10,000 in advertising and marketing costs. That is an awful lot of money to lose.

Is it worth to use a real estate agent? The real estate agents typically charge heavy commissions at around 6-8 percent of the final sale price of the property. For example if the average sale price of a property is US$ 150000 then the average commission charged by the real estate agents will be around US$ 10500 of the final sales price.

There are a number of internet resources that are designed to help do it yourself sellers. A quick Google search should net you many more. These services offer the homeowner help with everything from pricing their home correctly to choosing and implementing the right marketing tactics. These services are not free of course but $599 for a Premium” package is still a great deal over those agent’s commissions.

Vendors do face pitfalls that have to be avoided though. There are two main areas where FSBO sellers can run into trouble – setting the wrong asking price and then failing to present the property in the best light possible.

Because the seller has an emotional as well a financial investment in their home pricing it sensibly can be difficult. That is why it is recommended that they obtain an independent valuation. A professional valuation is really the only way to ensure a home is really priced to sell.

Marketing the home the right way is crucial and for most for sale by owner sellers the internet is the place to do that. Although the big real estate listing sites like realestate.com.au do not always accept listings from private sellers directly DIY websites will help their clients get their homes onto those sites and quickly visible to interested buyers. Inspections themselves can be tricky things as well. If there are a lot of interested parties an open house may be in order. Butterss says should you opt to do that the house should be open for an hour or so and potential buyers should be allowed to walk around the home without being tailed by the owners. He also recommends that sellers should not show the house alone and professional dress and manners are essential as well.

In recent research conducted in NSW, Australia found that “more often the seller will get a better price than previously quoted by an agent”. This will be because the sale price will be of more importance to the seller compared with the Real Estate agent.

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