The housing market seems to be in the right position for you to list your home for sale, but should you enlist the help of a real estate agent or try to sell it by yourself? It's a difficult quandary that is unique to each and every seller, but going without a real estate agent can work to your favor if you have the time and drive to follow through.
There's no doubt that selling a home is hard work, but with real estate agents commanding commissions as high as 6 percent of the sales price, some people interested in netting the most cash could do better without seeking help, according to Consumer Reports.
Be prepared to roll up your sleeves
If you're able to sell your home for $300,000, you could save $18,000 on commission. That's the price of a nice used automobile or a sizable chunk of cash that could go toward a nest egg for your children's future education.
However, owners who list without an agent better be prepared to spend time and energy in order to stir up interest and receive offers. HGTV recommended that owners who are prepared to sell without an agent do plenty of research and ask for a little help.
One thing is for sure, prospective homeowners should look around their neighborhood and see what similar homes have sold for in the past couple of years. The source stated sellers might discover that sales increase in their neighborhood during a certain time of the year, which might be a good indicator of when to list the home.
"Walk around your neighborhood, and go visit the open houses of similarly styled homes or properties," Greg Healy, Vice President of Operations at ForSaleByOwner.com, told Bankrate. "See if you'll really be able to sell against your competition."
Bankrate reported the earlier you research and test the market, the easier it will be for you to see how your home stacks up to others in the area. Once this is determined, you can decide to tackle some minor renovations if you don't think your home is up to snuff, or list your price accordingly if you feel your home is ready to sell.
Pricing and curb appeal
Few things are as critical to a quick and easy home sale as pricing and curb appeal. Consumer Reports urged prospective sellers to calculate a price range based on public records what homes are selling for in the area. Newspapers, online selling sites and real estate blogs can give you an idea of what you should list for.
Meanwhile, curb appeal is important because you only get one chance to make a great first impression. Piper Nichole, the author behind "The For Sale By Owner Handbook," told Bankrate sellers should never underestimate the importance of a home's exterior look.
"A lot of times the first thing potential buyers see is the outside of your house," Nichole said. "It can be a huge factor in whether they actually want to see the inside or keep on going."
Talk with an attorney
Once a home is garnering interest and appears ready for a sale, Eric Mangan, a co-worker of Healy's at ForSaleByOwner.com, told HGTV that sellers should consider talking to a real estate attorney to take care of the closing, as it can be tricky dealing with mortgage loans and such sizable investments.
"The attorney or title company is really a good partner for you in the process," Eric Mangan of ForSaleByOwner.com, told HGTV. "They handle the complicated disclosures during the closing so you don't have to."
Mangan said ask to see the paperwork that is associated with the deal to get a better grasp of exactly what is happening.
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