Selling on Your Own

The biggest incentive for home owners to try and sell their homes themselves is to save on real estate commissions.

While the "do-it-yourself" approach can be successful, carefully examine your capabilities and skills as a potential real estate agent before jumping in. Then recognize that any savings in dollars may quickly be lost in time and energy.

As your own agent, you'll have to:

determine the market price of your home
design the marketing plan
prepare, schedule and run your ads
screen inquiries
pre-qualify potential buyers by asking the right questions
book appointments
be available to show your home
be familiar with the legalities of an offer
negotiate the offer and counter-offers
collect and coordinate all legal documentation

In terms of costs, you'll pay your own advertising expenses and will likely consider engaging a notary or real estate lawyer to advise you and handle the legalities of the transaction. You should also factor in the time you'll spend personally and the length of time your home remains on the market.

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