SAN DIEGO, May 23, 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. The latest in Loan Love articles titled "Selling Your House Without a Realtor (PROS and CONS)" now provides professional tips on selling your house on your own without a realtor . The tips offered can help homeowners weigh out their options so that they are only making the best decisions when it comes to their homes.
Loan Love's newest article begins by stating: "Selling your house without a realtor can be very tempting at first glance, especially when you start punching the numbers on saving what can typically be as much as 6 percent sales commission. But before you start posting those "For Sale by Owner" signs in the front yard, take a moment to consider the pros and cons before making the big decision to go it alone in today's housing market . 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.
"This isn't the only reason why homeowners might feel the urge to sell their home on their own. Many homeowners may feel that they are the best person to represent their property's best assets and without the cost of real estate commission coming into play, negotiations may be a lot easier. The article continues by explaining the benefits for homeowners trying to sell a home without a realtor while going over the disadvantages of doing so as well. This is examined further in the article by saying:"But there is another side to the commission coin. According to the National Association of Realtors (NAR), only 9 percent of today's sellers are FSBO . The category has been on a downward trend since hitting a high of 19 percent in 1997. Among those sellers who decided to go the FSBO route, about 40 percent of sales are completed as a closed transaction. This means the homeowner already knew the buyer, either as a friend, acquaintance or family member. Of those who did not previously know the buyer, 18 percent were contracted directly by the buyer to express interest in the property. Taking all these factors into account, it becomes clear that the portion of FSBO sellers who sold their home without knowing the buyer and who were not directly contacted by a buyer, is significantly smaller than the 9 percent."
To learn more on selling your house on your own without a realtor , please visit LoanLove.com for the complete article.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
- Real Estate
- Selling Real Estate