Don't automatically discount the idea of homes for sale by owner. There are both benefits and drawbacks to choosing this route and each person must decided for himself or herself whether or not this is the best course of action. For some that have some extra time to invest into the process, this can end up being a money saver. On the other hand, it could end up being more than just a single person can handle. Look at all of the options and decide whether or not this is the right decision for you.
When it comes to homes for sale by owner, there are no real estate agents involved. This means that you are the main point of contact for sellers and even other realtors that want to bring their clients by to see the property. Everything goes through you from the scheduling of the appointments to each and every offer submitted. For some, this is a great way to have complete control of the process. You know everything that is going on and you have the ability to make decisions for yourself without any other influence.
When homes for sale actually sell, there is no real estate agent for you to pay. Whatever percentage you were planning to shell out will actually stay in your pocket. For those cutting it close when it comes to making any money on the house or even breaking even, the decision to handle the home without a professional makes sense.
While it sounds great to have complete control of everything homes for sale by owner can be a lot of work. If your property is priced right or there is a real demand, plan to have the phone ringing often and your time being consumed by answering questions and returning calls. You are at the mercy of anyone and everyone that wants to come by and take a look or get more information. For those with other responsibilities, this can be a real challenge. There is a lot that needs to be handled.
On the opposite end, what if no one is interested in the property? Homes for sale by owner do not get the advertising that properties listed by a realtor do. You need to think about how you plan to draw people in and realize that this is going to be more time and sometimes money investing into selling the house.
If handling the selling process yourself seems to be the best option for you, get started and see how things work out. If, at anytime, you are unhappy with the results or you realize that it is way too much work and effort, turn the property over to a realtor to get the assistance you need.