SAN DIEGO, June 13, 2014 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that is dedicated to helping home loan borrowers find a loan that they will love. It explains, and sometimes avoids altogether when possible, much of the complicated and stuffy professional language used in the mortgage industry and instead provides detailed advice and information in a down-to-earth, concise and often entertaining way. The website seeks to empower borrowers by providing them with helpful first class knowledge, valuable resources and connections to top rated industry professionals. Because of this, LoanLove.com has become a trusted destination for current news and expert loan advice. Before home owners decide it's time to sell a home, many of them will seek out the professional aid of a realtor. But is selling your house on your own without a realtor a good idea? Loan Love's new article defines the positive side of selling a home without the help of a realtor while addressing the negative side of doing so without one.
The article, titled "Selling Your House Without A Realtor (PROS & CONS)" shows that there are many positive points in selling a home without a realtor, among them being the fact that home owners won't have to worry about giving up as much as 6 percent sales commission to their realtor. To further explain this, the Loan Love 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.
There are other lesser perceived advantages to FSBO, most related to control:
- As the owner, you may feel you are better-prepared to show off your property's best assets.
- Negotiations may be easier for you because you won't have to take into consideration the cost of the real estate commission.
- The growing number of housing market sites offering free listings, such as Zillow and Trulia, make it easier for home owners to market their properties inexpensively to wide audiences.
- You have complete control over showing requests, the negotiation process and marketing of your property."
There is a flip side to this, however. Home owners will find out that their home selling range to be limited compared to a realtor's. The majority FSBO's are usually completed as a closed transaction, meaning that the home owner already knew the buyer possibly as a family member, a friend or an acquaintance. Also, even without having to pay for a realtor's commission, home owners may end up having less money than what they could have had; The median selling price for a FSBO home is generally considered a lot lower than homes sold through assistance from an agent.
The article then goes to list a number of reasons why having a realtor when selling a home may be more beneficial in the long run compared to going at it solo. To sum it up, the article states: "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 on the advantages and disadvantages of selling a home without a realtor, please visit LoanLove.com to view the complete article.
Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, email@example.com
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- Real Estate
- Selling Real Estate