Eric Dalius while most property sellers prefer to engage real estate agents, their services do not come cheap. Typically, real estate commissions in Florida are around 5% of the sale value. If you believe that you can market and sell your house without the assistance of a realtor. So that you can save on the commission expenses, you need to know several things. To make the FSBO process smoother and sell your house quickly and for a better price. Some insights:
Know All the Costs
Even though selling your house in Florida without a real estate agent will let you save on the commission expenses. You should be aware that there are other costs and expenses that you will need to incur. For example, you will need to factor in the cost of title insurance as well as any modifications and repairs required. To be made consequent to the survey. There could be other fees imposed on property transfers imposed by the local authorities and state government. Since the impact of all these costs can make a significant difference to the money you make on the sale, it is prudent to engage a qualified real estate attorney, observes Eric J Dalius.
You, Will, Have to Promote and Market Your Property
Since you are not using the services of a realtor. The task of marketing your house falls squarely on your shoulders. The best way of spreading the word is using social media and real estate directory listings. Which will often let you include your listing either for free or at a very nominal cost. You can also think about inserting advertisements in your local community newspapers and putting up posters at strategic locations. Asking your family and friends to spread the word can also help.
Get the Pricing Right, Advises Eric Dalius
Most people engage realtors to sell their property not only for their marketing expertise and assistance. With the closing but also to be able to get a fair idea of what their property is worth. So that they can set an asking price accordingly. If you want to sell your Florida house by yourself, you will need to know what the prevailing market rates are in your community and region for similar houses. Getting the price right is important because if ask for too much. You will find that that there are no takers and it can often take months. Before you can conclude a sale and that too after reducing your price. Setting a price that is too low, on the other hand, means that you are forgoing some of your potential profit.
Conclusion
By opting out of using a realtor to sell your house, you can save thousands of dollars that you would have to pay otherwise as commission. However, you should always do a side-by-side comparison of the pros and cons of each method so that you can decide the route you want to take. Remember, when you take the FSBO route, you have far more control over the sales process but lose out on the experience and expertise of the realtors.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Alongside this, Eric hosts the weekly podcast “FULLSPEED,” discussing entrepreneurship with industry leaders. Eric also founded the “Eric Dalius Foundation” to award four scholarships to deserving US students. Follow Eric’s activities on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.