|
|
|
|
| Three Proven Ways To Save Thousands When Selling Your Home |
by Dan Pool © 2006
It's exciting. It's stressful. It's expensive. Selling your home
sends you through a whirlwind of emotions. From the excitement
of moving to your new residence to the frustration of knowing
you'll pay thousands in real estate listing commissions, the
journey can often feel like a roller-coaster ride. There are
ways to get discount real estate fees, however, without
negotiating or haggling.
Flat Fee
Many discount real estate offices are moving toward a flat fee
listing commission structure. According to recent CNN.com and
Wall Street Journal reports, this allows a seller to have
his/her property listed in the Multiple Listings Service (MLS)
database for a flat fee of around $500. Professional agents are
then able to see the home listed in the MLS and have the option
to show and sell the property at another discount. Real estate
listing commissions for sales that result from discount
Realtors'® listings run about 3% as opposed to the standard 6%
in addition to the flat fee of $500.
These are not always full-service agencies, so be sure to ask
what you'll |
receive for your investment. Depending on the
services offered by the discount real estate office, this could
save you several hundred dollars on traditional listing
commission fees. Talk with local discount Realtors® in your area
to see what is available and the stipulations involved.
Single Fee Transaction
A new concept in real estate sales, single fee transaction,
allows a seller to pay no listing commissions on the sale of
their property provided they agree to purchase their new home
through the same real estate franchise. You pay a single fee for
both transactions.
Full-service agencies offer the traditional types of assistance
that sellers would expect from a typical real estate office.
These services include conducting open houses, running
advertisements in local real estate magazines and newspapers,
listing your home in the MLS database, assessing current values,
giving professional advice and more.
As reported in the Tucson Citizen, these types of discount real
estate franchise offices do charge a listing fee. They retain
and pay the buyer's agent (if applicable) |
|
|
half. However, when
the home seller purchases a new residence through the same
Realtor®, the other half of the original listing commission is
refunded. The Realtor® of a single fee transaction franchise
makes his/her commission on the purchase of the new home. This
can save a seller thousands of dollars in fees.
Single fee transaction is a new concept. It has not yet expanded
nationwide, so you'll need to check your area for availability
of these types of real estate franchises.
For Sale By Owner (FSBO)
This is the ultimate in discount real estate fees because you
pay none. Many homeowners don't realize that the use of a
Realtor® is not legally mandated for home purchases or sales. An
attorney can process the needed legal documents and filings to
record your transaction.
An agent from a local real estate office traditionally becomes
involved for his/her ability to market your home effectively.
However, for those able to devote the time and money needed to
sell a home, doing it yourself is an exceptional way to proceed.
Do some research before deciding. Total the |
estimated number of
hours you'll spend on the various duties required to sell a
home, then multiply the total by your salary (broken down into
hourly increments). Then total the amount of money you'll spend
on magazine and newspaper advertising, yard signage, mileage and
other expenses. If the total of both is less than the amount of
fees your Realtor® quoted, you'll know the FSBO method is the
better bargain for you.
If you're looking to sell your home, don't assume you are forced
to pay a 5% or 6% listing fee. You do have options. A little
research online can lead you to effective ways to sell your home
for its maximum price while still saving money on listing fees.
About the author:
Dan Pool is President of Two4One Real Estate offering an
innovative real estate
franchise opportunity and discount real estate fees for
sellers. Two4One will sell your home for free if you buy your
next home through them. Visit Two4One Real Estate online today
at http://www.two4one.com for more information.
|
|
|
|
