How Does Selling a Home Privately Save Money?
Realtor commission When a person sells her home the traditional way, she loses money from Realtor fees for both the buyer’s and seller’s agents. These fees are typically about 6 percent of the sales price. On a $300,000 property, that could be as much as $18,000. When the market is in a slump–meaning that house prices have gone down and there are more houses on the market than there are buyers–6 percent of the selling price can be a lot of money for someone who is just looking to break even. In this instance, a seller might consider selling her home privately versus going through a Realtor. The seller will still have to familiarize herself with the market in that neighborhood in order to price accordingly, and familiarize herself with the realty laws of the area. The seller will also still have to pay for services such as the title company and the escrow company, but these are fees that the seller would have been paying for anyway. Discounted Rates Selling privately allows sellers to
