| Pub Date: 5/29/2008 2:14:10 PM | | | Although most homeowners continue to sell their homes the way their parents did, (through a real estate agent), a large number of home owners are choosing to do it By Owner. By cutting out the middleman, home sellers can save thousands of dollars in commissions, and in this market they can also afford to reduce the asking price because they won't have to pay the commision to the listing agent.
If you cut out all agents — meaning post your own online ad, put out a yard sign, and sell your home on your own — you would essentially cut about 6% of the selling price. On a 200,000 home, that is $12,000 of savings. There are some markets that you might even save more, where commissions run even higher than 6 %.
The internet is changing the face of real estate. It is leveling the playing field. It is allowing sellers to easily market their homes to millions of people within minutes and even allows them to put their homes on the multiple listing service, something only real estate agents could do before.
Pricing information is now easily accessible through automatic valuation tools, which we provide free of charge to customers. It provides a pricing estimate and information about recently sold homes around the area.
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