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By : Larry Knowles    99 or more times read
Today, real estate buyers will find plenty of houses for sale to pick from. This buyer’s market allows the buyer to have more choices and usually find better deals.

A seller in this real estate market must find new ways to market their property. The real estate market, like most markets, can have hidden tools that many people are unaware of. There are ways to sell homes in this market and still end up with an acceptable profit.

Home owners that are forced to relocate, for whatever reason, are put in a situation where their accumulated equity can be lost if the owner is not careful. It is a common fact that home owners should not sell their home for many years if they want to make a profit. The major cause of this is that a seller must plan on marketing costs of over 6%.

When the real estate market is a “seller’s market,” home owners don’t give much thought about the cost to market their home. Home owners in a “buyer’s market” are forced to think about these costs. The terrible real estate market has created at least one good thing. It has brought the ugliness of marketing costs to the surface. Why should a seller, even in a good market, allow their hard earned equity to be handed over to realtors through their commissions?

Prior to the internet, a home owner was basically forced to use a realtor. The only option was to place a sign in their yard and an advertisement in the paper. This practice could not reach the number of buyers desired by most. While most realtors belong to the MLS (multiple listing service), their involvement was helpful to the seller. Most home owners didn’t have other options to try and avoid the hefty costs of using a realtor service. The creation of the average 6% commission charged by realtors must have been enough to create a desirable income with little effort, there are so many realtors available, and there is a reason for it.

Home owners today can reach the desired number of buyers without paying this high commission. Using new websites allows sellers to list there houses for absolutely free. With the internet as strong as it is, selling a home by owner is the way to go. If a home owner uses a yard sign, buyers can be directed to the website and view interior pictures, and a description of the home in question.

If a seller believes that their home still needs the MLS, there are websites offering the ability to get on the MLS without paying a flat fee for this service. Sellers should be aware that putting their home on the MLS is requesting a realtor to sell their house as a buyer’s agent. If an agent uses the MLS to find a buyer, the buyer’s agent is going to want compensation. When a seller uses a website for their listing, and decides to have their home placed on the MLS, the average 6% commission can be reduced to 3%.

When a home owner contracts with a realtor to sell their home, the typical contract will require the seller to pay a commission even if the home is sold by the home owner. This is the reason the use of website listing services is growing so quickly. The use of a certain website will not require a contract or ask for financial information. If the home owner sells their home without a buyer’s agent involved, the seller pays no commission.

The worst case scenario using a listing website is that the seller ends up paying 3% (instead of 6%) for the sale and if the home owner uses the best selling recommendations, can likely avoid realtor commissions totally.
Larry Knowles


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