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By: Bill McCormick
In most states those in the market to sell their home have three primary options available for consideration: For Sale By Owner (FSBO), Flat-Fee Multiple Listing Service (MLS), and Full Service Real Estate Broker.
The option above that one selects will often depend upon: how much time, effort, and money one wants to expend selling their own home, and how comfortable one is with learning and dealing with your state's real estate requirements and laws.
Let's take a look as some of the pros and cons of the three options for selling your home.
FSBO:
Many people are drawn to looking into the FSBO option for selling their home mainly because they want to be able to avoid the sales fees associated with the other two methods. Often people perceive the sale of their home like selling a car or a boat and they are not fully aware of the complexities of actually getting traffic to the home for review by potential buyers or how to go about qualifying a buyer should an offer be made.
In addition, many home buyers know that a home that is a FSBO offering will have more room for negotiating on price and they will barter with a real sense purpose looking for the seller to offer deep discount from the asking price.
A home owner that offers the property FSBO also needs to do all of the advertising and marketing of the property themselves. This is considerably more complicated than simply sticking a "For Sale" sign up in the front yard. In today's super-saturated housing market it takes aggressive marketing to get visibility and foot traffic into your home so you can find the right buyer. Finally there are the complexities associated with the contractual formats required for an offer to purchase and transferring the title to the property. Failure to get these items performed properly leaves the homeowner exposed to serious liabilities.
FLAT-FEE MLS LISTING:
Reducing a significant portion of advertising and marketing the home, the flat-fee MLS listing option eliminates this burden from the homeowner's to-do list. By signing up with a flat-fee MLS service, the MLS firm will take care of advertising and marketing to get your home the foot traffic necessary to get an offer.
This option will widen your choices considerably over just relying on chance drive-bys as a number of buyer's agents will begin to review your home as a potential purchase for their clients (although they will often expect a 2%-3% commission from you should their client purchase your property).
One is advised to consider that they will need to attend to the potential of realtors organizing an "open house" and advertising your property in various ways to promote the sale, so you will need to respond accordingly.
For the two options discussed above, it is highly recommended that the homeowner have the property professionally appraised before putting it up for sale. With a professional appraisal one can be assured that they have a solid expectation of the property's market value prior to accepting any potential offers.
FULL SERVICE REAL ESTATE BROKER:
The old adage of "You get what you pay for" comes to mind when looking at hiring a full service broker to manage the sale of your property. In addition to gaining expert advice, one also gets a load taken "off of their shoulders" as the lion's share of all tasks related to selling the property will be assumed by the realtor. A good realtor will help you to maximize the final offer that you receive on the home and help guide you through the closing processes.
Your realtor will be connected to the MLS network and help to screen for qualified buyers. With their vast experience in what different properties in different locations are selling for in the current real estate market, an expert realtor can be "worth their weight in gold" when it comes to maximizing the sale value for your home. You will pay a sales commission to the broker on the sale of the property should they find you a qualified buyer that offers you acceptable terms. In the final analysis you need to determine which model of selling your home best fits your preference for involvement and control over the process.
Author Resource:->??Bill McCormick is an experienced real estate agent and owner of a Re/Max Executive Realty office covering the market in the metro-west Boston area. Bill specializes in Houses for Sale in Milford, Mendon, Grafton and Upton Massachusetts towns. His website has more tips for house sellers and buyers at http://www.billmccormick.com
Article From Next Level Articles
Source: http://www.nextlevelarticles.com/Art/407604/92/Selling-Your-Home-Which-Model-Is-Best-For-You.html
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