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House selling basic
Can I sell my house by my myself? Why do I need a real estate agent?

Selling you house by yourself without an real estate agent is possible and some people did it successfully. However, it may not easy and will take some work on your part. Think the fact that less than 20% houses were sold by owners.

Why does the majority of owners selected an agent to sell their houses? These are the answers:

  • Real estate transaction is a complicate process. It may take a long time to get familiar with the process, legal documents and forms.
  • Only real estate agents allow to access to the Multiple Listing Service (MLS) to list houses. If a house listed on the MLS, large numbers of potential buyers can get the house information form internet.
  • Buyer's agent will not show the house information to buyer if seller does not agree to pay commission to buyer's agent.
  • Without tools and experience, seller may overprice or underestimate the house price. Correct house price is critical to sell the house quickly without compromise seller's benefit.
  • Even the seller is energetic, fully confident and familiar with the process, he/she still need to take much time and energy to deal with related issues, including preparing documents and forms, show buyers house, reply offers etc., and finally may feel exhausted.
  • If seller is not good at negotiation, he/she may lose money and waste of their time.
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How to determine the right price of your house?

If you don't want to lose money due to the underestimation or waste time because of overpricing, you need to set the house price at the market price, which is not what you think it should worth. One way is comparing your house with which are similar as yours and sold recently in your neighborhood or other similar neighborhood. Another is determining the cost per square foot of the selling homes and then use this value times your house square footage to finalize your house price. You need to adjust your house price based on other detailed features, such as  hard wood floor, screen porch, extra bath room etc.

If you have a list agent, he/she can provide a comparable market analysis (CMA) to determine your house's market price.

You can also order an appraisal to determine your home's market value accurately. You can either ask your real estate agent or your friends to refer a good appraiser or you can find a appraiser through the National Association of Master Appraisers (NAMA).

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