Are you thinking about selling your home in Woodbine-Lumsden? Have you been thinking of selling it by yourself instead of hiring a real estate agent? There are several advantages of selling your home yourself, but there are disadvantages as well. To make it easier for you to make a decision find the most important pros and cons below.
The most important PRO for selling your home yourself in Woodbine-Lumsden is MONEY. Selling your home without the help of an agent means more Money in your pocket! By selling it yourself you save the commissions and fees. – We are not talking about pennys, we are talking about THOUSANDS of dollars which you would have to pay an agent. Another advantage is that you are able to decide the times for open houses and showings. It is also completely up to you where and when you want to advertise. Unlike a real estate agent who is selling many houses, you can focus on YOUR house, because you are only selling your own house. It is obvious that you will have more interest in the sale than an agent.
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Consumers who don't want to pay a commission but still want the services of a real estate professional when they sell their home have turned to brokerage models offering fee-for-service. Fee-for-service models can offer one service such as a listing in the Multiple Listing Service (MLS) or bundled services that would also include a Comparative Market Analysis (CMA), a marketing plan and negotiation of contracts. The seller with a flat fee or an hourly rate for the service selected compensates the brokerage. Extensive real estate information is available to home sellers on the Internet. Technology driven consumers now look to real estate agents to provide technical pieces of the transaction. Fees range for a MLS listing: $250-$750, prepare CMA: $100-$250, negotiate contract $500-1,000.
Dear Pearl: Brokers who are full service or fee-for-service don't guarantee the sale of a listing. You experienced the day-to-day process of managing a listing. Next time if you want a fee-for-service broker choose one that can convert your fee-for-service into a full service listing. Bite the bullet if you need to sell and re-list with a full service brokerage. Retain an attorney to review your current fee-for-service agreement.
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Experts estimate that most people who use a Realtor will pay as much as 10% of your selling price in costs associated with selling. The cost of selling a home yourself can range from 4% to 8% of the selling price of your home. When you're estimating your expected gains, remember that the cost of selling a home can be deducted from that figure for tax purposes.
To give you an idea of what the costs of selling a home in the current market are, take a look at the information below. We've included estimated costs based on a $250,000 home sale, as well as some tips for lowering or eliminating them to lower your overall cost of selling your home.
If you list your home with a Realtor, expect to pay 4 to 6% of the sales price, or $8,000 to $12,000 in real estate commission.
Tip: Shop around. Real estate commissions aren't written in stone. A Realtor may be willing to accept less of a commission in a slow market, or you may be able to save money by contracting with a Realtor for specific services only rather than a contracted listing.
The cost of moving from one home to another are included in the cost of selling a home. It may be as little as $1000 to as much as $12,000 for a cross country move. Let's be conservative again - $3,000
Other relocation costs
You may need to replace appliances, pay off school transfer or gym fees, or pay storage for your furniture. There are many unexpected costs of selling a home which may amount to nothing, or add up to a good chunk of change.
Even without adding in other relocation costs, you can see how the cost of selling a home can reduce your final cash gain. The good news is that most of those costs are deductible on your taxes.