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For Sale By Owner Vs For Sale By Real Estate Agent

For Sale by Owner Vs For Sale by Real Estate Agent

Charlotte, North Carolina - September 27th, 2008

Most people that think about selling their house immediately want to list their home through a real estate agent. That's not a bad idea if you don't have the time to sell on your own.

You have to think about how much you are giving away to your real estate agent by acquiring their services. For a home valued at $200,000 you can expect to pay around $12,000. That's money that you can tuck away in your pockets, but one thing. It's not that easy to sell your house any longer.

In Charlotte NC there are more houses on the market listed by real estate agents now than there has been. Approximately, 31,000 houses were on the market at the end of August. Close to 4,000 more houses than 2 years ago when the market started to cool down. The, amount of homes sold in August 2008, are also down to about 2,200 vs. 4,500 in the same time frame.

The recent numbers suggest that selling by real estate agent (the traditional way) is no longer working. Foreclosures have sent a shock wave through the housing market is finally wear down on the previously strong Charlotte - Mecklenburg market.

Selling your house by owner creates more opportunities that can relieve homeowners the burden of a quick sale that might take as long as 9 months. In Charlotte on 1 in 14 homes are selling while the other 13 sit on the market.

When you need to sell fast or get from under your mortgage payments, your real estate agent isn't going to make your payments, nor are they willing to purchase your home if it doesn't sell.

Some things you can do to get rid of the burden of your house by owner that you can't do with a real estate agent:

1. Lease your home to a tenant and sell at the end of the term.
2. Sell through owner financing; such as land contract or agreement for deed. There are ways to get your close at closing.
3. Give or loan the real estate commission to the buyer to help them qualify.
4. Buy down the interest rate.

These are just a few ways that you can use by owner that will help get your house off of your hands fast. During these tough times it might be best to expect to find a way to make the mortgage payments than to let your house sit on the market and drain all of your savings.

This article isn't for the homeowners that have deep pockets and tons of options in case their homes don't sell. Homeowners that need relief from their mortgage payments, double payments, job transfer, divorce or etc will find some useful tips to set them on the path of taking control by owner in this depressed real estate market. Being creative could mean the different between relieving yourself from your house now or waiting months going the traditional route.

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