WHO SHOULD SELL A HOUSE BY OWNER?
Selling without a Realtor isn’t recommended for everyone. Before deciding to forego an agent, look carefully at the pros and cons of FSBO. Selling a house on your own will occupy a lot of your time — it’s like a part-time job.
WHAT IS SELLING A HOUSE BY OWNER IN ILLINOIS
SELLING WITHOUT A REALTOR IN ILLINOIS COULD BE RIGHT FOR YOU IF: • This isn’t the first home you’ve sold, with or without a Realtor. If you’re familiar with the selling process — or if you were once a licensed real estate agent yourself — you can use your experience to guide you. • You know a real estate expert to ask for advice. If you have a relative or friend who’s willing to provide occasional advice for free, you can rely on them when the unexpected happens. •You have enough time in your schedule. If you already have a lot of work, family, or school responsibilities, you might find yourself stretched thin. • You already have a buyer. A lot of the work of selling a home is marketing and showing. Already having a buyer means you can skip all of that and just focus on closing and the paperwork that comes with it. • You want more control over the selling process. If you’d rather take charge of the pricing, marketing, and negotiations instead of handing those responsibilities over to a Realtor, FSBO gives you that freedom.
Selling your house without a Realtor in Illinois means you won’t have to pay the average Illinois listing commission of 2.68% of your home’s sale price.
However, if selling a home on your own was easy, everyone would be doing it. In fact, only 10% of home sales are by the owner. Listing your home for sale by owner (FSBO) means you’ll need to set the price, schedule showings, and open houses, and negotiate with buyers — all on your own. Plus, you’ll need to handle all of the paperwork at closing, where a minor mistake could lead to legal problems. On top of all that, you might not even save that much. FSBO sales often sell for 35% less than sales completed using a listing agent. FSBO is only recommended if you have experience selling and you’re certain you can handle everything a real estate agent would normally do.
This guide will help you decide if sale by owner makes sense for your situation and tell you how to sell without a Realtor in Illinois.
If at least a few of these things don’t apply to you, think twice before selling without a Realtor in Illinois. If saving money on Realtor commission is what you’re after, it’s worth looking into real estate agents who’ll work at a lower-than-typical commission.
Made with FlippingBook Online newsletter