Over the past several years, a quiet revolution has developed in the real estate field where homeowners are selling their own homes absent the help of a realtor. The main factor that a realtor has as an advantage is access to inside knowledge of homes via the multi listing services. However, with the maturity of the Internet, we now have sites such as this one. We help normal El Paso residents list their houses for sale by owner online. This way ordinary homeowners can harness the power of the internet. This site will work with other websites where the FSBO seller (FSBO means for sale by owner), can market a home with a similar effect as a that of a realtor. If successful, the people who embrace in the houses for sale by owner movement, can do very well.
There are some considerations that a homeowner must make if they are going to sell their home by themselves, without the help of a realtor. If you are the kind of person who doesn’t relish the bargaining aspect of haggling over the price, then selling your home on your own, may not be for you. On the other hand, if we use the texbook commission rate for homes in El Paso - 6%, and your home is worth $200,000, you are going to save around $12,000 in commissions.
That is the price of a very nice used car. So maybe going it on your own might be worth pursuing. You will have to learn all about the paperwork, but you could hire an attorney for that, and find a title company (they are all over the place). Take a course at the local junior college or online in regard to these things. Or go to your local state regulation office and get the information from the source. How hard are you willing to work for $12,000?
In order to sell your home, you must find out what it is worth. The best way to do this is to have it appraised. This will cost around $300 to $500, depending on the area, but is sets a solid value on your house. You can contact us and we can give you arbitrary prices from typical online resources… There are lots of sites that can give you an estimated value, which are based on houses that are sold in your area. Just keep in mind that an appraisal will be more accurate, and be seen by prospective buyers as legitimate.
The next thing that you should look into, is to look into partnering with one of ‘the for sale by owner’ agencies. These folks provide services that you might not be able to find or perform on your own, such as referrals, assistance with documentation, and affiliations with title companies. There are more and more buyers who actively search the sell by owner sites, in the hopes of finding a bargain. It is getting to the point that there are enough people in this category, that it helps the traffic quite a bit.
The other side of that equation rests in the fact that it only takes one buyer to purchase a home, and you only have to connect with only one family to get the job done. So the answer to that particular question still usually boils down to marketing, and the Houses For Sale By Owner networks like ours are extremely effective. Get help from the beginning because an effective campaign in marketing will give you an extra edge.