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Will You Save
Money By Selling It Yourself?
“ALTHOUGH I’D MUCH
RATHER USE A REALTOR®,
THE THOUGHT OF SAVING MONEY BY NOT HAVING TO PAY AN AGENT’S COMMISSION
IS VERY ENTICING—ESPECIALLY WITH HOME PRICES STILL BEING QUITE HIGH.
FROM A PURELY FINANCIAL STANDPOINT, IS IT WORTH IT TO SELL MY HOUSE
MYSELF?”
In almost all cases,
the answer is no; it’s very possible that you’ll end up losing money by
not using a Realtor®.
Typically, the commission you’ll pay will be between 5 and 6 percent of
your home’s selling price (split between the buyer’s agent and the
seller’s agent). Although this figure could be quite substantial, a
Realtor’s® expertise in
determining an initial list price and their ability to successfully
market your home will more than likely offset any financial savings from
selling your home yourself.
According to the National Association of
Realtors®,
in 2005 the average home sold without a Realtor® had a final sale
price of 16 percent less than the average home sold with a
Realtor®. If you factor in a 6 percent commission, that’s 10 percent
less than what you could have made if you enlisted the services of a
professional. Of course, 16 percent is just an average and many sellers
actually do save money in the end, but in this difficult sellers market,
why take a big chance that you’ll leave money on the table? ∆
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