One of your first decisions will need to be decide is should I go for sale by owner, or should I work with a real estate agent?
The facts are that most homes are sold using the services of a real estate agent. It’s hard to come up with an exact percentage, it depends on who you talk to and just how you’re counting. But conservatively, at least 80% of homes are sold year in and year out using the services of an agent.
There’s a reason for it – and it’s not that 80+% of home owners are dumb, or lazy, or have money to burn. There are multiple reasons you should consider hiring a real estate agent, and we’ll get into those in a little bit.
There are times, however, when you really don’t need to hire a real estate agent to get your home sold. About 40% of people who do sell “by owner” do so because they have already identified the buyer for their property. That usually means they are selling to a friend, or a family member, or perhaps a neighbor.
In cases like this, there’s no real need for marketing, and the buyer probably already knows quite a bit about the home. Typically, the sale prices on these types of transactions are lower, as they are not what are known as “arms length” transactions and there are no commissions involved. It’s not so much a question of the seller saving money, but the seller probably does save a lot of hassle, and the buyer gets a break on the price.
If you do not already have a buyer lined up for your property, it’s a much different scenario, and the choice to sell on your own becomes more difficult. That doesn’t mean you shouldn’t sell on your own, but the question becomes a lot more difficult to answer, and really depends on your own set of circumstances.