4 advantages to selling a house on your own:
- No brokerage fee (commission) to be paid.
- You're in total control of the transaction/sale of your home.
- If mistakes are made, they're your own. There's no one else's mistakes to deal with.
- If your equity is low, you may be able to sell your house without having to write a check.
10 disadvantages to selling a house on your own:
- You must rely on your own instincts.
- All marketing and advertising costs are your own, which can be an expensive proposition.
- You will not have access to the MLS--the Multiple Listing Service. You must hunt for buyers one at a time.
- Without all the tools in hand, you may underprice or overprice the house.
- If you are not skilled in negotiation, you may leave money on the table.
- All of the paperwork, legal forms, etc. are your responsibility and must be handled by you.
- If you want to give a maximum benefit to your efforts, your free time will be somewhat or severely limited.
- Many buyers believe that if you are selling on your own and not paying a commission, it is they (the buyers) who should get the savings, not you.
- As you approach negotiations, you must sever emotional ties with your house or you'll place yourself at a disadvantage.
- You must become knowledgeable of legal and financial issues to be most effective.