More and more home sellers are trying to decide whether they will make more money on their home by selling it on their own or by enlisting the help of a real estate agent. Certainly, there are advantages and disadvantages to both strategies and if you are interested in selling home on your own it is important to make sure you have examined the angles of both options before making a final decision.

Selling Home on Your Own

Advantages - Home sold by owners tend to sell on par with homes sold by agents. When you factor in the fact that homeowners will save a 6% commission, they might actually come out ahead financially.

Disadvantages - Selling your home on your own entails a lot of work. In addition, the home might not sell as fast as a home listed with an agent.

When considering selling your home on your own, it should be taken into consideration that the market today is definitely not the same it was a year ago, or even six months ago, for that matter. In many areas, the market is tough. Buyers are savvy and they realize they have the upper-hand in areas where the inventory of homes for sale far exceeds the number of homes sold recently.

As a result, home sellers who are trying to sell on their own without the help of a real estate agent may find it tough going. Real estate agents can provide a wide range of services to help properties move faster, even in difficult times. To help home sellers who may need additional services but who are interested in saving as much as they can when it comes to selling their home, many real estate agents are now offering a la carte real estate services. For example, a home seller could attain assistance with listing their home, marketing it or even just closing the deal for a flat fee.

While these options can certainly save sellers money, it is important to ask yourself whether you actually have the time necessary to invest in properly marketing your home in today’s market. Studies indicate that homes sold by their owners on average take about three weeks longer to sell than homes listed with a real estate agent. If you are in a time crunch to sell your home quickly, this could spell problems; particularly in a softening market where it is already taking a long time to move homes.

If you are considering selling home on your own, it really does pay off to do some research. If your home is not appropriately priced for the market, it will cost you in the long run. Both homes that are over priced as well as under priced tend to perform poorly.

In addition, make sure you obtain necessary professional assistance including help from an attorney, title company and lender. Far too often deals fall apart for sellers working on their own simply because they did not understand all of the details.

In the end, selling your home on your own may actually help you to come out ahead when compared with selling it using the help of a real estate agent; however, it does require more time and patience.

Home owners who elect to sell on their home will need to spend time researching market values and then put in the time required to market their home to the current buyer climate. This could mean embracing a wide range of marketing techniques, including Internet technology. Sellers working on their own should be available to take calls from interested buyers and make their home available for showing on a frequent basis. The latter could mean taking time off from work.

If you are not prepared to put in this kind of time and energy into selling your home, biting the bullet and paying the agent’s fee may be a better solution for you in the end. Likewise, if you are in a hurry to move due to a job change, it may be better to consider working with an agent instead to avoid the lengthier waiting times that most sellers working on their own endure.

Finally, keep in mind that while on average, homeowners who sell on their own come out ahead financially, this is not always the case. The main advantage for most home sellers deciding to sell on their own is the ability to save the sales commission. Keep in mind that if your home sells to a buyer working with an agency, you may still be responsible for half the commission; which could mean up to 3% of the final sales price.