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4 Benefits of Selling a House By Owner

Nobody claims that selling a house is a piece of cake. It can be time consuming and expensive. But the keys to selling a house are pricing it appropriately and marketing it successfully.

Sure, many real estate agents work hard at marketing your house, but you certainly pay for this help in the form of a commission: typically 6%. If you're willing to take on that work yourself, you can save thousands of dollars and simplify negotiations with your buyer, since neither of you has to figure commissions into the negotiation process.

1. Pay Yourself Rather Than an Agent

If a typical agent commission is 6% of a sale price, and you sell a house for $150,000 through an agent, you'll owe the agent $9,000. If you have a house worth half a million, you'll pay an agent $30,000. By selling your house as a FSBO property, you will take on certain expenses and will have to do your own research and legwork. But when the day comes to close the sale, you'll be paying yourself rather than a real estate agent for the hard work involved.

2. Make the Most of Low Equity Situations

Suppose you have only recently bought a house or for some other reason don't have much equity in your house. If you sell and go through an agent, you could easily end up having to pay some or all of the real estate commission out of your own pocket.

Consider this scenario:

  • Your house is worth $400,000 and you owe $390,000 on the mortgage

  • You have $10,000 in equity ($400,000 - $390,000 = $10,000)

  • You sell through an agent for $400,000

  • After paying off the $390,000 you owe, you have $10,000 left over

  • But you owe the real estate agent $24,000 (since 6% of $400,000 is $24,000)

  • Since you only make $10,000 on the sale, you have to come up with another $14,000 to pay the commission

  • Net result: you lose money

By selling the house yourself, you'll keep that $10,000 and make a profit.

 

3. Get Rewarded for Your Hard Work

Working with a real estate agent doesn't mean that you simply sit back and wait for your house to sell. You will still have to make repairs, keep the house tidy, and have your schedule interrupted for showings and open house events. Furthermore, when negotiating a final selling price, you and the buyer will end up figuring the agent's commission into the sale price in one way or another, and this can complicate negotiations. In short, selling a house yourself can be a lot of work, but you’ll get paid handsomely for it.

4. The Cost vs. Control Math Just Works Out

If you choose to become a FSBO seller, you will have expenses. An appraisal, which can help you determine the best price for your house, will cost several hundred dollars. But this investment helps you price the house to sell quickly and also backs you up when it's time to negotiate a final price with a buyer.

You will need to take out print ads in local papers and shopping tabloids, and should strongly consider listing online with a site like ISoldMyHouse.com and buying our flat-rate listing in the Multiple Listing Service database. You may also hire a lawyer to oversee the sales contract.

But what you get from being a FSBO seller is control. You control when you show your house, what's in your ads, and the negotiation process. Your reward for your investment of time and money is pocketing what you would have otherwise spent on an agent's commission.

 

If you want the control that comes from selling your home yourself, click here and you can get started on your free listing right now.

struct
Cause
struct
ErrorCode 18456
Message [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'.
NextException
struct
ErrorCode 0
Message [Macromedia][SQLServer JDBC Driver]An error occurred while attempting to log onto the database.
SQLState 08001
StackTrace java.sql.SQLNonTransientConnectionException: [Macromedia][SQLServer JDBC Driver]An error occurred while attempting to log onto the database. at macromedia.jdbc.sqlserverbase.ddca.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddca.a(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.SQLServerImplConnection.f(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.b(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.k(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseDriver.connect(Unknown Source) at macromedia.jdbc.MacromediaDriver.connect(Unknown Source) at coldfusion.server.j2ee.sql.pool.JDBCPool.createPhysicalConnection(JDBCPool.java:614) at coldfusion.server.j2ee.sql.pool.ConnectionRunner$RunnableConnection.run(ConnectionRunner.java:67) at java.lang.Thread.run(Thread.java:662)
TagContext
array [empty]
Type java.sql.SQLNonTransientConnectionException
SQLState 28000
StackTrace java.sql.SQLInvalidAuthorizationSpecException: [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'. at macromedia.jdbc.sqlserverbase.ddca.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddca.a(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.v(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.SQLServerImplConnection.f(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.b(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.k(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseDriver.connect(Unknown Source) at macromedia.jdbc.MacromediaDriver.connect(Unknown Source) at coldfusion.server.j2ee.sql.pool.JDBCPool.createPhysicalConnection(JDBCPool.java:614) at coldfusion.server.j2ee.sql.pool.ConnectionRunner$RunnableConnection.run(ConnectionRunner.java:67) at java.lang.Thread.run(Thread.java:662)
TagContext
array [empty]
Type java.sql.SQLInvalidAuthorizationSpecException
DataSource ISMH_CMS
Detail [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'.
ErrorCode 28000
Exceptions
array
1
struct
class java.sql.SQLInvalidAuthorizationSpecException
message [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'.
2
struct
class java.sql.SQLNonTransientConnectionException
message [Macromedia][SQLServer JDBC Driver]An error occurred while attempting to log onto the database.
Message Error Executing Database Query.
NativeErrorCode 18456
RootCause
struct
ErrorCode 18456
Message [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'.
NextException
struct
ErrorCode 0
Message [Macromedia][SQLServer JDBC Driver]An error occurred while attempting to log onto the database.
SQLState 08001
StackTrace java.sql.SQLNonTransientConnectionException: [Macromedia][SQLServer JDBC Driver]An error occurred while attempting to log onto the database. at macromedia.jdbc.sqlserverbase.ddca.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddca.a(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.SQLServerImplConnection.f(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.b(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.k(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseDriver.connect(Unknown Source) at macromedia.jdbc.MacromediaDriver.connect(Unknown Source) at coldfusion.server.j2ee.sql.pool.JDBCPool.createPhysicalConnection(JDBCPool.java:614) at coldfusion.server.j2ee.sql.pool.ConnectionRunner$RunnableConnection.run(ConnectionRunner.java:67) at java.lang.Thread.run(Thread.java:662)
TagContext
array [empty]
Type java.sql.SQLNonTransientConnectionException
SQLState 28000
StackTrace java.sql.SQLInvalidAuthorizationSpecException: [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'. at macromedia.jdbc.sqlserverbase.ddca.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddca.a(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.v(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.SQLServerImplConnection.f(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.b(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.k(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseDriver.connect(Unknown Source) at macromedia.jdbc.MacromediaDriver.connect(Unknown Source) at coldfusion.server.j2ee.sql.pool.JDBCPool.createPhysicalConnection(JDBCPool.java:614) at coldfusion.server.j2ee.sql.pool.ConnectionRunner$RunnableConnection.run(ConnectionRunner.java:67) at java.lang.Thread.run(Thread.java:662)
TagContext
array [empty]
Type java.sql.SQLInvalidAuthorizationSpecException
SQLState 28000
Sql SELECT Node.page_id, COUNT(Parent.page_id) - 1 AS depth, Node.lft FROM PageHierarchies Node CROSS JOIN PageHierarchies Parent WHERE (Node.lft BETWEEN Parent.lft AND Parent.rgt) AND Parent.site_id = 1 AND Node.site_id = 1 AND Parent.language_id = 1 AND Node.language_id = 1 AND Parent.hierarchy_version = 1 AND Node.hierarchy_version = 1 GROUP BY Node.lft, Node.page_id ORDER BY Node.lft
StackTrace coldfusion.tagext.sql.QueryTag$DatabaseQueryException: Error Executing Database Query. at coldfusion.tagext.sql.QueryTag.doEndTag(QueryTag.java:736) at cfleft_nav2ecfm1457251660._factor11(C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm:158) at cfleft_nav2ecfm1457251660._factor14(C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm:2) at cfleft_nav2ecfm1457251660.runPage(C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm:1) at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:244) at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:444) at coldfusion.runtime.CfJspPage._emptyTcfTag(CfJspPage.java:2799) at cfselling2dhouse2dby2downer2ecfm2098538413.runPage(C:\home\prod1.isoldmyhouse.com\wwwroot\fsbo\selling-house-by-owner.cfm:105) at coldfusion.runtime.CfJspPage.invoke(CfJspPage.java:244) at coldfusion.tagext.lang.IncludeTag.doStartTag(IncludeTag.java:444) at coldfusion.filter.CfincludeFilter.invoke(CfincludeFilter.java:65) at coldfusion.filter.IpFilter.invoke(IpFilter.java:64) at coldfusion.filter.ApplicationFilter.invoke(ApplicationFilter.java:422) at coldfusion.filter.RequestMonitorFilter.invoke(RequestMonitorFilter.java:48) at coldfusion.filter.MonitoringFilter.invoke(MonitoringFilter.java:40) at coldfusion.filter.PathFilter.invoke(PathFilter.java:112) at coldfusion.filter.ExceptionFilter.invoke(ExceptionFilter.java:94) at coldfusion.filter.ClientScopePersistenceFilter.invoke(ClientScopePersistenceFilter.java:28) at coldfusion.filter.BrowserFilter.invoke(BrowserFilter.java:38) at coldfusion.filter.NoCacheFilter.invoke(NoCacheFilter.java:46) at coldfusion.filter.GlobalsFilter.invoke(GlobalsFilter.java:38) at coldfusion.filter.DatasourceFilter.invoke(DatasourceFilter.java:22) at coldfusion.filter.CachingFilter.invoke(CachingFilter.java:62) at coldfusion.CfmServlet.service(CfmServlet.java:204) at coldfusion.bootstrap.BootstrapServlet.service(BootstrapServlet.java:89) at sun.reflect.GeneratedMethodAccessor40.invoke(Unknown Source) at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25) at java.lang.reflect.Method.invoke(Method.java:597) at org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:274) at org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:271) at java.security.AccessController.doPrivileged(Native Method) at javax.security.auth.Subject.doAsPrivileged(Subject.java:517) at org.apache.catalina.security.SecurityUtil.execute(SecurityUtil.java:306) at org.apache.catalina.security.SecurityUtil.doAsPrivilege(SecurityUtil.java:166) at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:299) at org.apache.catalina.core.ApplicationFilterChain.access$000(ApplicationFilterChain.java:57) at org.apache.catalina.core.ApplicationFilterChain$1.run(ApplicationFilterChain.java:193) at org.apache.catalina.core.ApplicationFilterChain$1.run(ApplicationFilterChain.java:189) at java.security.AccessController.doPrivileged(Native Method) at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:188) at coldfusion.monitor.event.MonitoringServletFilter.doFilter(MonitoringServletFilter.java:42) at coldfusion.bootstrap.BootstrapFilter.doFilter(BootstrapFilter.java:46) at sun.reflect.GeneratedMethodAccessor39.invoke(Unknown Source) at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25) at java.lang.reflect.Method.invoke(Method.java:597) at org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:274) at org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:271) at java.security.AccessController.doPrivileged(Native Method) at javax.security.auth.Subject.doAsPrivileged(Subject.java:517) at org.apache.catalina.security.SecurityUtil.execute(SecurityUtil.java:306) at org.apache.catalina.security.SecurityUtil.doAsPrivilege(SecurityUtil.java:246) at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:239) at org.apache.catalina.core.ApplicationFilterChain.access$000(ApplicationFilterChain.java:57) at org.apache.catalina.core.ApplicationFilterChain$1.run(ApplicationFilterChain.java:193) at org.apache.catalina.core.ApplicationFilterChain$1.run(ApplicationFilterChain.java:189) at java.security.AccessController.doPrivileged(Native Method) at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:188) at com.seefusion.Filter.doFilter(Filter.java:49) at com.seefusion.SeeFusion.doFilter(SeeFusion.java:1500) at sun.reflect.GeneratedMethodAccessor38.invoke(Unknown Source) at sun.reflect.DelegatingMethodAccessorImpl.invoke(DelegatingMethodAccessorImpl.java:25) at java.lang.reflect.Method.invoke(Method.java:597) at org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:274) at org.apache.catalina.security.SecurityUtil$1.run(SecurityUtil.java:271) at java.security.AccessController.doPrivileged(Native Method) at javax.security.auth.Subject.doAsPrivileged(Subject.java:517) at org.apache.catalina.security.SecurityUtil.execute(SecurityUtil.java:306) at org.apache.catalina.security.SecurityUtil.doAsPrivilege(SecurityUtil.java:246) at org.apache.catalina.core.ApplicationFilterChain.internalDoFilter(ApplicationFilterChain.java:239) at org.apache.catalina.core.ApplicationFilterChain.access$000(ApplicationFilterChain.java:57) at org.apache.catalina.core.ApplicationFilterChain$1.run(ApplicationFilterChain.java:193) at org.apache.catalina.core.ApplicationFilterChain$1.run(ApplicationFilterChain.java:189) at java.security.AccessController.doPrivileged(Native Method) at org.apache.catalina.core.ApplicationFilterChain.doFilter(ApplicationFilterChain.java:188) at org.apache.catalina.core.StandardWrapperValve.invoke(StandardWrapperValve.java:224) at org.apache.catalina.core.StandardContextValve.invoke(StandardContextValve.java:169) at org.apache.catalina.authenticator.AuthenticatorBase.invoke(AuthenticatorBase.java:472) at org.apache.catalina.core.StandardHostValve.invoke(StandardHostValve.java:168) at org.apache.catalina.valves.ErrorReportValve.invoke(ErrorReportValve.java:98) at org.apache.catalina.valves.AccessLogValve.invoke(AccessLogValve.java:928) at org.apache.catalina.core.StandardEngineValve.invoke(StandardEngineValve.java:118) at org.apache.catalina.connector.CoyoteAdapter.service(CoyoteAdapter.java:414) at org.apache.coyote.ajp.AjpProcessor.process(AjpProcessor.java:204) at org.apache.coyote.AbstractProtocol$AbstractConnectionHandler.process(AbstractProtocol.java:539) at org.apache.tomcat.util.net.JIoEndpoint$SocketProcessor.run(JIoEndpoint.java:298) at java.util.concurrent.ThreadPoolExecutor$Worker.runTask(ThreadPoolExecutor.java:886) at java.util.concurrent.ThreadPoolExecutor$Worker.run(ThreadPoolExecutor.java:908) at java.lang.Thread.run(Thread.java:662) Caused by: java.sql.SQLInvalidAuthorizationSpecException: [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'. at macromedia.jdbc.sqlserverbase.ddca.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddca.a(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.b(Unknown Source) at macromedia.jdbc.sqlserverbase.ddb9.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.v(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddr.a(Unknown Source) at macromedia.jdbc.sqlserver.tds.ddj.a(Unknown Source) at macromedia.jdbc.sqlserver.SQLServerImplConnection.f(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.b(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.k(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseConnection.a(Unknown Source) at macromedia.jdbc.sqlserverbase.BaseDriver.connect(Unknown Source) at macromedia.jdbc.MacromediaDriver.connect(Unknown Source) at coldfusion.server.j2ee.sql.pool.JDBCPool.createPhysicalConnection(JDBCPool.java:614) at coldfusion.server.j2ee.sql.pool.ConnectionRunner$RunnableConnection.run(ConnectionRunner.java:67) ... 1 more
TagContext
array
1
struct
COLUMN 0
ID CFQUERY
LINE 158
RAW_TRACE at cfleft_nav2ecfm1457251660._factor11(C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm:158)
TEMPLATE C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm
TYPE CFML
2
struct
COLUMN 0
ID CF_LEFT_NAV
LINE 2
RAW_TRACE at cfleft_nav2ecfm1457251660._factor14(C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm:2)
TEMPLATE C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm
TYPE CFML
3
struct
COLUMN 0
ID CF_LEFT_NAV
LINE 1
RAW_TRACE at cfleft_nav2ecfm1457251660.runPage(C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm:1)
TEMPLATE C:\home\prod1.isoldmyhouse.com\wwwroot\includes\2011\left_nav.cfm
TYPE CFML
4
struct
COLUMN 0
ID CFINCLUDE
LINE 105
RAW_TRACE at cfselling2dhouse2dby2downer2ecfm2098538413.runPage(C:\home\prod1.isoldmyhouse.com\wwwroot\fsbo\selling-house-by-owner.cfm:105)
TEMPLATE C:\home\prod1.isoldmyhouse.com\wwwroot\fsbo\selling-house-by-owner.cfm
TYPE CFML
Type Database
queryError [Macromedia][SQLServer JDBC Driver][SQLServer]Login failed for user 'wzladmin'.
where [empty string]