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.

 

 
Posted by Rhonda Bletsh on 03/12/2008 04:00 PM   Comments (0)  
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This post has been included in Arkansas Real Estate News

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Rhonda Bletsh

Conway, AR

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ERA Henley Real Estate

Office Phone: (501) 327-6731

Cell Phone: (501) 730-8980

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