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Many Options to Sell Your Home

By Jim Shen Subscribe to RSS | May 19th 2012 | Views:
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If you are thinking about selling your home, there are many different options. The first is selling it yourself or “For Sale by Owner”. The second is listing it with a broker at a real estate company. Some brokers will give you different options when listing. Perhaps, it is a more traditional listing, with a commission based structure or maybe it is a flat fee listing or fee for service listing. Knowing the services that your broker/agent will provide is very important.

With a commission based structure, the broker or agent does not receive compensation until your home sells. Virtually, as a seller, if that agent does not sell your home, they do not receive compensation for the work performed. This can be a “risk-free” option for a seller, in a sense. What you may lose though is time.

With a flat fee listing for your for sale by owner home, most real estate companies will charge an upfront fee to put a sign in your yard, provide a lockbox, take professional photos and upload your home to the Multiple Listing Service (MLS listing). There are many different plans available that range from smaller MLS listing fees to larger fees upfront depending on the services provided. Another thing to remember is that because of the reciprocal agreement in the MLS listing, it is often necessary to offer compensation to the buyer’s agent in the transaction. You should discuss this with your broker before signing the flat fee listing agreement for your for sale by owner listing. One disadvantage of doing a flat fee listing is that your agent has already received his compensation and may not be as aggressive when it comes to finding a fair market value and helping you stage your home for sale. Another important question to ask your agent before doing a flat fee listing in the MLS is what additional services they provide for you. Will the agent schedule showings or will that be your job? When an offer is received, does the agent negotiate on your behalf or is it up to you to negotiate with the buyer’s agent.

No matter what type of listing you choose to do, be sure to ask lots of questions. Ask your agent for references from other sellers. Do your research prior to signing your name on the listing agreement. Many listing agreements range from 6 months to one year in length. That can seem like a lifetime when your home is not selling. While the commission based listing is probably the most common, flat fee listings are becoming more popular in today’s market. The flat fee listing for your for sale by owner home in the MLS listing database can save you thousands of dollars in the end and is a great option for a savvy homeowner who needs to save money. If you are upside down on your mortgage saving thousands, means more money in your pocket. Just be sure get all the details first!

Jim Shen - About Author:
Jim Shoun is a shrewd consumer who writes about personal finance and real estate topics like: for sale by owner , flat fee listing , MLS listing

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