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Like anything else "do-it-yourself," selling your own home can save you a lot of money-when you act as your own agent, you don't have to pay a cent in commission. That's 5% or more of the selling price back in your pocket.
On the other hand, you'll pay your own advertising expenses and perform all the time-consuming tasks of a professional, full-time realtor, including:
- Determining your home's asking price. (Learn about pricing your home to sell.)
- Designing a real estate marketing plan
- Creating, scheduling and placing ads (like a realtor, you'll pay all the marketing expenses)
- Screening inquiries and pre-qualifying potential buyers by asking the right questions
- Booking appointments
- Showing your home at a buyer's convenience, sometimes on short notice
- Being familiar with the legalities of an offer
- Negotiating the offer and counter-offers
- Collecting and coordinating all legal documentation
You'll also probably want to engage the expertise of a notary or real estate lawyer to guide you through the legalities of the sale-for a fee, of course.
It's up to you to decide if so much of your time, flexibility and energy are worth the money you'll save. You can be successful, especially in a seller's market. If the market is slow, you might prefer to list with a realtor.
Explore the links below to learn more about selling your own home:
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