03
January

Sell My House No Agent

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Looking to sell you property without using a real estate agent?

There are numerous solid reasons why many people are choosing to sell their homes through such portals as For Sale By Owner, including (primarily) the huge savings in commissions, lower advertising costs, the ability to market their property at a more competitive rate, and not being tied to a specific agent with some sort of exclusive authority being in place.

Let’s start with the first of these: saving of commission costs. The exact commission charged by an agent is open to negotiating between the vendor and the agent, and can also depend of the type of property and location of the property. However, as a general rule of thumb, the commission will be around the 2.5% mark, based on the total sale price of the property. In addition to this, there will usually also be further costs for advertising, which can be in excess of a few thousand dollars (usually considerably more if the property is taken to auction).

To put this in perspective, 2.5% on the sale of a $700,000 property, the commission payable to an agent would be $17,500 (in addition to further expenses for advertising). Compare this to selling your property yourself through sites such as For Sale By Owner, where the costs are just a few hundred dollars, depending on what services you require. You could choose simply to pocket the savings, or you could sacrifice a portion of these savings by marketing your property at a more competitive rate.

Can I sell my house using a range of different agents to increase the market coverage? Usually the answer to this is no. Most agents will want you to sign an exclusive authority, and quite understandably. There is little incentive for them if the possibility exists that the other agent will complete the sale, in which case they walk away with nothing. What this does mean though, is that if an agent is not performing, there is little the vendor can do until the end of the exclusive period is reached. By selling your property yourself, you eliminate this possibility. No-one will be more keen and dedicated to the sale of your property than you, the vendor.