Not all home owners choose to sell their houses through a realtor, since there are several benefits of selling houses privately. No special skills are usually required to sell a house, so with a little research, nearly anyone can do it. Owners who sell houses privately save money by not using a real estate agent, which is one of the biggest benefits of this strategy. The seller also has control over the entire sale, from when and how prospective buyers look at a house to the final sale price.
When they want to sell their homes, many people use the services of a real estate agent. These professionals are usually considered more knowledgeable about selling houses, and for the most part, this is true. Most home owners, however, should be able to sell houses privately, with a little research. Usually, a general idea of the home's value and a good presentation of the home are all that are needed.
When a real estate agent sells a house, he will typically keep a small percentage of the money from the sale. This fee is known as a commission. Depending on the final price of the house, this commission will often end up being thousands of dollars.
Many real estate agents will also advertise a house for sale in several different places. This advertising can be very costly, and most of this money will come out of the seller's pocket. When selling houses privately, homeowners can decide where they want to advertise and how much they want to spend. A simple “For Sale By Owner” sign posted in the front lawn is free, for instance, and it may be the only advertisement necessary. On the other hand, a homeowner can also run an inexpensive classified ad in the local newspaper.
Homeowners who are selling houses privately are also able to show their property when and how they want to. They do not have to scramble to rearrange their schedules to coincide with the real estate agent's schedule, for instance. Instead, they can set up interviews and showings with prospective buyers at their own leisure.
When selling homes privately, the final price is usually determined by the seller. For instance, sometimes they may be pressured by real estate agents to lower their asking price. Although they may eventually decide on a lower final price than originally anticipated, they will ultimately have the final say regarding the price. If a potential buyer's offer is lower than what they are willing to sell for, they can simply decline the offer.