Selling it Yourself versus Paying a Realtor

Almost every homeowner considers the possibility that they could go it alone and sell their own home, in order to save on real estate commissions. Selling a home without professional help is often a quick path to significant savings, because paying commissions to real estate agents is expensive. The thing to determine, however, is whether or not that expense is justified and whether or not it pays for itself in terms of convenience or higher sales price. Good arguments can be made for both choices ? using a real estate agent or just going it on your own ? but the important thing to do if you are making this kind of decision is to explore your options beforehand. Once you know the facts, you can take an informed and educated plan of action.

?For Sale by Owner? is a do-it-yourself project that certainly can save you a serious chunk of change. The broker commissions on real estate sales vary from one jurisdiction to another, but are generally in the 5-7 percent range. Hire a pro to help you sell a home for $225,000 ? which is close to the median price of a home in the USA right now ? and chances are you will pay somewhere in the neighborhood of $12,000.

And if you are planning to sell yourself, the biggest advantage you?ll have compared to 10 or 15 years ago is that you can now participate in the official Realtor property database or Multiple Listing Service (better known as the MLS). For a set fee, you can upload a detailed advertisement along with photos of your property to the MLS and gain immediate computerized access to potential buyers, to let them know that your property is on the market. With that kind of exposure, you may not have to spend any other money on advertising.

You will have to go through a licensed Realtor in order to list your property in the MLS, and pay fees associated with the service. But if you?re selling a house, the MLS is worth every penny. Step it up a notch by using an ?upgraded? arrangement such as a ?discount broker?, and you can get additional benefits and services. For example, you can sell your own home but still hire a so-called ?discount broker? to help with the nitty-gritty details of the transaction. Real estate agents who hire-out for part time work will offer you a menu choice of various professional services, for things such as making appointments, conducting tours of your home, and writing legal contracts for purchase offers. You do part of it yourself, and pay a pro to do the rest.

One thing that many people forget is that if they set out to sell their home by themselves and it doesn?t work out the way they planned, they can also exercise their option to hire someone else to do it for them. So not matter what you decide to do, it doesn?t hurt to first experiment and find out first hand what you are comfortable with and capable of doing.

Posted by Gay Nell Rittenberry on December 13, 2008 at 12:00 AM

About Gay Nell Rittenberry
Gay Nell Rittenberry is affliated with Coldwell Banker MetroNet Realtors, which is located in Hopkinsville, KY. For further assistance please use the contact information located on the right.

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Local Information for Hopkinsville, KY

Latitude: 36.854712 -- Longitude: -87.488872

ZIP Codes for Hopkinsville, Kentucky	42240 42241
Area Code for Hopkinsville, Kentucky	270
Time zone for Hopkinsville, Kentucky	CST

Other Area Cities: Hopkinsville, KY Clarksville, TN Oak Grove, KY

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Hopkinsville was settled in 1796 by Bartholomew and Martha Ann Wood, a couple from Jonesborough, Tennessee. The Wood family established a permanent settlement in the vicinity of present-day West Seventh and Bethel Streets, near what would become known as the Old Rock Spring. Wood staked a claim, based on his service in the Revolutionary War, on 1,200 acres of land. He built a second cabin on what is now the northeast corner of Ninth and Virginia streets and a few years later built a home southeast of Fourteenth and Campbell streets, where he died in 1827. Wood's settlement soon attracted other settlers, and a pioneer village emerged. Wood donated five acres of land and a half interest in his spring for the county seat. The following year a log courthouse, jail, and "stray pen" were built on the public square facing Main Street. The plat for the town, first called Christian Court House, was surveyed by John Campbell and Samuel Means in 1799. -- Source: Wikipedia.com

Kentucky 2000 Census Population Profile Map

	Hopkinsville	Kentucky	United States
Population	30,089	4,041,769	281,421,906
Median age	35.1	35.9	35.3
Median age for Male	32.7	34.6	34
Median age for Female	36.9	37.1	36.5
Households	12,174	1,590,647	105,480,101
Household population	29,090	3,926,965	273,643,273
Average household size	2.39	2.47	2.59
Families	8,125	1,104,398	71,787,347
Average family size	2.95	2.97	3.14
Housing units	13,260	1,750,927	115,904,641
Occupied units	12,174	1,590,647	105,480,101
Vacant units	1,086	160,280	10,424,540

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Selling it Yourself versus Paying a Realtor

Local Information for Hopkinsville, KY

Latitude: 36.854712 -- Longitude: -87.488872

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