Selling your Home without a Real Estate Agent

The great majority of homes are sold through a listing contract with a real estate agent. Most of these result in the seller paying a typical 6% commission on the sales price. The remaining homes are sold by home owners. With the help of a few professional specialists, who can be compensated on a flat-fee or hourly basis, many of the details surrounding buying or selling a home can be accomplished without the need of a broker. Also, in most cases, the company issuing the mortgage will make sure the transaction is legal, because they do not want to be saddled with liability involving a bad transaction. In these situations, the mortgage company pays attorney’s fees and more.

Saving $12,000 on a $200,000 home sale is plenty of motivation for a buyer and seller or FSBO (For Sale by Owner)—a term real estate agents use with much disfavor. The urge to try selling one’s own home is especially strong in a seller’s market, when qualified buyers are plentiful, listings are relatively few and everything that’s fairly priced gets snapped up.

Agents can reel off a dozen or more arguments against trying to sell your own home, among them that you could set the wrong price, accept an unqualified buyer or lose the help of agents, who won’t bring their clients by to see your home. All of those things could happen—but some of these can also occur if you list your home with an agent.

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