How Selling Home by Owner Works
In earlier days, it was expected of people to take help from a broker if one wanted to sell a property in USA. There was a commission attached to their service, which was typically around 6% of the sale value. Back in the day, one could still make a handsome profit even after deducting the commission of broker. However, these days, when the properties in US have hardly appreciated and the owners are neck deep in mortgages, it does not sound like a very good deal to hire a broker.
The statistics prove that 7% homeowners prefer to sell house by owner but before you get lured in by the profit margins, know what you are getting into!
Get the best that your property deserves
Some homeowners are apprehensive of hiring an agent to sell their property not because of the commission but because they suspect that these brokers may not have the best interest of seller at heart. If you do take the dirty job in your own hands, do make sure that you are well acquainted with the process of how do you sell a house by owner.
There are far more tools available for FSBO
Unlike old times, the homeowners now have far greater tools at their disposal. Apart from the good old ‘for sale’ sign in the lawn, there are many other options for the owners to sell their property. For example, you can take out an ad in the newspaper regarding homes for sale in Broken Arrow Oklahoma, if you live in that area. You can also get listed on MLS for greater exposure.
Use the online tools
The homeowners can now enjoy greater visibility of their property in the marketplace by exploring all these other online portals.