Selling Your House On Your Own

"You can get rid of the broker, but you cannot get rid of the broker's work" is an old caution for those who intend to offer their homes "For Sale By Owner" (FSBO). Selling on your own is not an easy undertaking. It requires a significant amount of time to study the process, understand your obligations and do some of the complicated work that a real estate agent does. In addition, selling on your own requires extra help from outside professionals, such as Realtors®, accountants or attorneys for some of the jobs that require specific expertise.

The following are some major pitfalls to avoid:

As a personal safety measure, only show your house to those individuals with whom you've made a prior appointment that's been confirmed by phone.
Don't price the house so low that it sells too quickly—pay for a market value appraisal by an experienced appraiser.
Hold out for a buyer with written pre-qualification from a lending institution.
Find out your legal obligations.

If you require only limited services, some Realtors® will agree to help with the transaction for a predetermined fee. You can call real estate companies and ask for the managing broker and see if they're interested in furnishing "unbundled services."