One of the worst parts of owning real estate is selling it. Sure, most agents are professional and do a good job making sure the process goes smoothly, but with commissions of 5% of the sale price common in most parts of the country, that can add up to tens of thousands of dollars for somebody with a nice place.
There are a few ways to drastically lowering this bill.
The easiest is to negotiate with real estate agents directly. I’ve found that by playing hardball during the listing process I was easily able to get a 10-20% discount on the commission.
Another easy step is to use one of the many discount real estate brokerages that have sprung up. In exchange for decreased service, these people will sell your house at a fraction of the commission charged by a regular agent. Be prepared for doing more of the work yourself, however.
You can also sell your place on your own, privately. This works best when the market is hot and a seller has the house realistically priced. Many sellers go this route because they think a property is worth much more than an agent tells them, which usually doesn’t lead to a sale.
Ultimately, most sellers just aren’t experienced enough to go without an agent. If you’re willing to put in the work and not get emotional about the process, however, selling a place on your own is very possible, especially using online resources. You don’t have to pay full price to get your place sold.
