SAN DIEGO, May 24, 2014 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that offers in-depth information on home loans that experienced home buyers can benefit from in an easy-to-understand and entertaining way that even first-time borrowers will be able to grasp. The team at LoanLove.com is devoted to help empower both first time and experienced homeowners with valuable resources, first-class knowledge and connections to top-rated industry professionals and has the mission of helping consumers and borrowers to obtain the latest information on mortgage lending news, the real estate market and the U.S. financial landscape in order to help them obtain a home loan that they will love. Selling your own home without a real estate agent may offer a few advantages to homeowners, but what are the drawbacks? The Newest article from Loan Love weighs the pros and cons of both.
Although selling a home without a realtor may seem appealing at first glance, the article titled "Selling Your House Without A Realtor (PROS & CONS)" advises resisting the lure of selling a home without a realtor, at least not without checking the advantages and disadvantages of both. The article states: "It's not too difficult to come up with the primary reason to try to sell your house on your own: no real estate agency commission. Unless you are able to negotiate something with the buyer, you are likely to be the one covering the entire commission.
This can run as high as 5 to 6 percent of the sales price, and is typically split evenly between the seller's agency and the buyer's agency. If your house sells for $275,000, for example, you could expect to pay a total of $16,500 to the two brokerages involved if you owe a 6 percent commission."
The article continues by listing the pros of an FSBO (For Sale By Owner) which includes the following:
- Being able to show the property's best assets
- Negotiations are made easier due the lack of real estate commission
- Homeowners presently being able to use inexpensive methods to market their properties.
- Complete control over showing requests, the negotiation process and marketing of the property.
These advantages aren't without their drawbacks, however. One of the significant disadvantages that FBSOs is that homes sold through an FBSO is comparatively low when make a home sale through a real estate agent. In most cases, a home was only sold due to a closed transaction, meaning the homeowner knew the buyer previously, either as a family or friend.
Aside from the advantages and disadvantages of selling a home without a real estate agent, the article also offers the benefits of using a realtor. The article summarizes this by saying: "Bottom line: Paying a commission to real estate agencies is more likely to bring you top dollar for your home. Unless you are a lawyer well-versed in real estate law, it also brings the benefit of knowing your paperwork and transactions are thorough, legal and meet all local requirements.
Finally, your investment provides you with an experienced professional who knows the real estate market, knows how to price your home, understands how to incrementally lower the price to stir interest, and has access to some of the best marketing tools available."
To learn more selling a home without a real estate agent, please visit LoanLove.com for the complete article.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, firstname.lastname@example.org
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