Can I sell my home on my own or do I need to use an agent to get on the MLS?

May 29, 2010 - PRLog -- What you are asking about is an FSBO sale - there are good and bad sides of doing this. Let's take a look at these points:

When selling with no agent:
* no agent commissions means more money for you. If a buyer comes with an agent, you will still usually fork up the 2-3% for his commission, even if you are doing all the legwork w/ the lawyers for documentation etc.
* You have to make sure you get all the right docs and paperwork for the deal, get a lawyer, which costs some money. If you miss out on something, you can be liable to being sued - or worse, lose your property
* you have to take and field all calls, make appointments, show the property yourself and look at offers
* You need to setup the appointments and fees also with the title company
* property MAY take longer to sell, since agents tend to bring you more opportunities


When selling w/ agent
* since the property will be listed on MLS - you will get more offers, and often, more GOOD offers - and thus, you may lose out on some $ here if you don't list with them
* you will develop relationships with RE contacts in your area, something you may need for the future
* you got to fork up 5-6% no matter if the buyer has own agent or not.

If you are going to go ahead and selling without an agent, be prepared to:
* Call RE attorneys and ask how much they charge for their services for the disclosure paperworks and drafting up legal contracts.
* Make sure you have the time and energy to market your property, this takes money and effort too
* You must be able to negotiate with offers, and know how tell if bad offers come in (ie.lots of contingencies, low down payment, and other weird stipulations)
* Make sure to hold open houses

An alternative is to use those discount services, such as http://www.mlsflatfeefsbo.com, or MLS Island - they take MUCH less than a traditional agent, who eats about 5-6% of the total home value. So, there are good points to both sides, you have to decide which path is right for you.

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