Flat Fee Vs. By Owner
Updated: May 15
When it comes to selling your home you have plenty of options. Being a homeowner is an investment. Whether you have been in your home for a year or 30 years you have put money into it. Now it is time to get the most money you can out of it and sell your house. Lets take a look at two low cost options to sell your home.
First is to sell it yourself or for sale by owner. The obvious pro to selling by owner is that you pay $0 in commission. On paper that is enticing and sounds perfect. In reality the money you save in commission gets lost in time and more importantly a lower sale price. For most people spending time selling their home isn't any issue, most people may even enjoy the process. Who hasn't thought about being a realtor at some point right? The biggest issue is that you will miss out on potential buyers seeing your home. For example say your home is listed on the MLS you will be exposed to all buyers instead of the few buyers you find driving by or on facebook. Will you have a better chance of receiving a higher offer if you have 10 buyers interested or 1 buyer?
That brings us to your second option. Sell with a flat fee real estate company. This is an area that continues to grow and see demand. There are also a variety of plans that these companies have to offer. Some flat fee real realtors have upfront fees and some flat rates are paid at closing. The biggest thing to look out for with flat fee real estate agents is to make sure they are full service. The MLS listing is different if you list with someone who is not full service and you to not receive the full value of the MLS. So what are the benefits of a flat fee company that is full service? They will do everything a traditional 6% real estate company would do for a fraction of the price. It is important to be on the MLS to offer compensation to the buyers agents realtor. Most buyers are working with an agent and have an agreement with them. Even if you sell by owner chances are they will come with an agent who will want to be compensated anyway. The benefits of listing with a flat fee company like 1 Grand Realty far outweigh that of selling by owner. It is your decision to make though, good luck in your next adventure!