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7 Myths About Real Estate Investing That Are Costing You Tens Of Thousands Of Dollars
Did you know that real estate investing has created more millionaires that ALL other industries combined? The question, then, is why are more people not invested in real estate? Even with the increased awareness in real estate investing, more people...
Are Fractional Shares For You?
Fractional shares (“fractionals”) are sometimes confused with other vacation property options, such as time shares and condo hotels. While there are similarities, there are a number of things that make fractional shares unique, and thus suited for...
Thinking about selling your home?
Owning a home is the original American dream. It’s the old frontier spirit, wanting to claim your own tuft of the New World. Then again, these days it also makes perfect economic sense. Experts estimate that all of the homes in the United States...
Timing Clauses Stop Sellers From Inciting Bidding Wars
It is no secret that the current real estate market is hot, hot, hot. Sellers can receive multiple bids for their property on the same day. In the rush of the moment, your emotions can carry you into a bidding war. Using timing clauses can help...
Why Good Houses Don't Sell?
When a house doesn't sell as quickly as expected, it's easy (for the owner anyway) to lay the blame on a soft real estate market, or a lousy selling season. After all, neither of those things are the seller’s faults, nor under the seller's control....
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Should your Sell your Home yourself?
Should you sell your home yourself? Yes and no. Yes, you should leave the option of selling on your own open and no, you shouldn’t rule out using the services of an agent to help you sell. There are a considerable number of advantages of using an agent to sell your home but their services do come at a price – up to 6% commission on the sale price! That’s quite a sum, a precious $6,000 for every $100,000 your home is worth. Agents are not indispensable. With the advent of the Internet, a fairly sizeable number of owners have been able to successfully sell on their own. Statistics have it that 80% of home buyers begin their search for a home online. So, putting your home details on the Internet is one effective medium of advertising your home and reaching out to a large number of buyers.
So now, how would you go about doing the ‘yes and no’ at the same time? Well, agents may not tell you about this but there is a type of listing arrangement you can have with them, known as an ‘Exclusive Agency Listing’. Under the terms of this listing, they would be the exclusive agents handling the marketing of your property and should they or another agent find a buyer for your place, your listing agent would be entitled to a full commission. This type of listing would also have the agent put your property on the MLS (Multiple Listing
Service). The other side to this listing arrangement is that, if you find a buyer yourself, you don’t have to pay any commission to your agent! So, the answer to yes and no lies in going for an Exclusive Agency Listing. You would be keeping the option open of finding a buyer yourself, through the Internet listings of your home, while on the other hand, should your listing agent find you a buyer, you would have to pay the commission but you’re getting your home sold in the process.
So where should you advertise and list your home? There are plenty of websites which offer to list your property. Two well-known and frequently visited sites are ChoiceOfHomes.com and ForSaleByOwner.com. I suggest not listing on only one but listing on at least a couple of these sites, if not more. It doesn’t cost much and especially when you consider the money you’d save in commissions from finding a buyer through these sources.
Happy Home Selling!
About The Author
Sameer S Panjwani is the CEO and Founder of ChoiceOfHomes.com - Find Homes for Sale and Apartment Rentals.The website is a useful resource of Home Listings, Articles and Information related to real estate.
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