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For Sale by Owner |
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I would like to sell my house in Maryland, I wanted to try for sell by owner. What are the pros and cons hereand what should I do to start the sell. Also what is the lowest to highest commission for the realtor in the state of Maryland? |
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There's no legal commission rate set by the state or by any organization. Each brokerage company sets its own rates. You might as well ask what's the lowest to highest charge for mowing a lawn, or drawing up a will. It all depends on your arrangement with the person providing the service.
One big hurdle for the FSBO seller is pricing the property correctly. Too high and nobody comes to see it, too low and you sell promptly but you've shortchanged yourself. The next thing to watch out for is getting the house tied up in a contract with a buyer who turns out unable or unwilling to go through with the deal.
How to avoid these problems, and where to start?--more than I can tell you here.
Go to the library or a bookstore, and start studying. New salespersons need many many classroom hours of study and then state examinations, before they're even allowed to help sell houses under the close supervision of experienced brokers. Don't try to do this off the top of your head. There are plenty of books on the subject of home selling, so get them and put in some time taking notes. You could even start with the chapters from my Home Selling book that can be found on this web site.
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Edith
Originally published on November 13, 2007 |
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