Lee Morof's Real Estate Blog

In today’s economy, people are looking for ways to save money.  This is also true when it comes to selling their homes.  Some homeowners believe that selling their homes without a Southeast Michigan real estate agent will save them thousands.

Is selling your home on your own right for you?  After weighing some of the advantages and disadvantages to selling your home without a Southeast Michigan real estate agent, you will be able to make a more informed decision on which choice is best for you.

Here are three advantages to selling your home as a For Sale By Owner (FSBO):

1. You may save money by eliminating the commission.  Selling your house as a FSBO means you don’t have to pay commission to a listing agent.  The average commission is 6% of the sales price, so you could possibly save that amount.  Unfortunately, buyers know that too.  So, most buyers believe that if you are selling on your own and not paying a commission, they should get the savings – not you.
2. The Multiple Listing Service (MLS) is now available to you.  A FSBO can now be advertised on many local Multiple Listing Services.  In the past, this tool was only available to real estate agents and brokers.  You will usually have to pay a fee to get your home listed on the MLS.
3. Offers and counter offers can be negotiated face to face between you and the buyer.  You don’t have to wait for your listing agent to talk with the buyer’s agent and get all the paperwork drawn up.  However, if you are not skilled in negotiation, you may leave money on the table.

One other thing to take into consideration before you put up your For Sale By Owner sign is the state of your local Southeast Michigan real estate market.  If it is a buyer’s market, you will most likely have a hard time selling your home by yourself.  It’s easier to sell your home by yourself when there is a seller’s market.

If you’re still not sure if selling as a FSBO is right for you, and you have plenty of time, you can try selling your home without an agent.  If your home hasn’t sold after a few months, you can then hire a Southeast Michigan real estate agent.

If you’d like information on how to sell your home on your own or what paperwork you need, I’d be happy to help.  Call me today at 248-514-2640 or by email at info@NorthWoodwardHomes.com.

Lee Morof
Associate Broker/Certified Distressed Property Expert/Attorney
RE/MAX Showcase Homes, Birmingham, Michigan
Call:  248-514-2640
info@NorthWoodwardHomes.com
www.NorthWoodwardHomes.com