CHICAGO, Sept. 16, 2009 – With home sales continuing to languish, home sellers need to consider alternatives to using a real estate agent to get their homes sold. ForSaleByOwner.com, the nation’s leading “by owner” real estate website, offers five reasons why today’s home sellers can successfully market and sell their homes without agents.
“The Internet has leveled the playing field by providing access to resources that previously only an agent had access to,” says Greg Healy, Vice President of Operations at ForSaleByOwner.com. “Today’s by owner sellers now have easy access to the most sophisticated tools for selling a home, including in-depth education, resources and information to help price and market their homes. The reasons to use an agent are decreasing”
1. The Internet Has Changed Everything: Online real estate search tools make it easier than ever for homeowners to find resources and information to effectively price and market their homes without the help or expense of a real estate agent.
2. It’s Easy to Market Your Home: “By Owner” home sellers can reach millions of homebuyers by marketing their homes online on sites such as ForSaleByOwner.com. They can also market their home on the Multiple Listing Service (MLS) without having to sign an exclusive listing agreement with a real estate broker. ForSaleByOwner.com offers access to the MLS and also allows sellers to have their homes marketed on Realtor.com.
3. “By Owner” Sellers Have Pricing Power: “By Owner” home sellers do not pay commission while homes listed with an agent typically carry a 6% commission rate, or $18,000 on a $300,000 home. The “by owner” seller can actually price their home lower than similar homes listed with agents, yet still save thousands of dollars compared to agent-represented sellers.
4. A Lawyer Will Handle the Paperwork: Real estate lawyers—not agents—are responsible for ensuring that documents and other legal matters pertaining to the sale are in good order, and actually closing the deal. Agents can offer some direction, but only an attorney can provide legal advice and handle the contract and other paperwork. Sellers should always have an attorney whether they have an agent or are selling their home themselves.
5. Save Money: Real estate agents do provide convenience, but in today’s tough economic times sellers need to ask themselves if it’s worth giving up 6% of their home’s sales price. The typical ForSaleByOwner.com seller saves nearly $13,000 in commission costs.
ForSaleByOwner.com is the nation’s leading “by owner” real estate website. Since 1999, ForSaleByOwner.com has saved home sellers more than one billion dollars by providing premium Internet marketing services, MLS listing services, property pricing reports, real estate guidance and information, downloadable legal forms, as well as live customer support, to help customers independently sell their own homes. The company offers a wide range of listing packages at varying prices that provide advertising, information, tools and resources to empower people to sell their homes themselves. In contrast, a person selling a $300,000 home through a real estate agent would be charged a 6% commission fee and pay approximately $18,000. Prospective homebuyers can browse property database, available at http://www.forsalebyowner.com, at no charge.