Banish the Broker: Sell Your Home Yourself

06/05/08 - 10:40 AM EDT

John Morell

The experts recommend getting the word out by talking to friends, family, neighbors and co-workers that you've got a home to sell. You can advertise it for free on Web sites like Craigslist.com and Zillow.com. You can also create an inexpensive or free Web site that features more details about your home, additional photos and a home-made video tour of the house and neighborhood. Craigslist and Zillow will let you link to this site.

Host an Open House

Just like your realtor, you can also host an open house. It helps to time it to coincide with one or two other open houses on your street so you can draw people interested in the neighborhood. It helps to have some colorful flags and big, professional-looking signs, and don't forget flyers with pictures, a description and the price.

Get on the List

If these roads aren't getting buyers to the front door, you can take a semi-traditional route, but it will cost you. Many FSBO Web sites will allow you to list your property on the multiple listing service (MLS), which will get your property noticed by agents looking to sell their clients a house. However, the catch is that you'll owe them 3% of the sales price after closing. That's still better than 6%, however.

Maybe Not 100% Yourself

You can get help with the scariest part -- the paperwork -- early in the process by engaging the assistance of a real estate attorney or title company. "Depending on where you are in the country, an attorney or title company will be your best friend, making sure all the disclosures and the other forms are signed correctly," said Mangan.

Overall, is it worth the time and energy to sell your home yourself? "Only you can judge that factor. But take into account how much you'll be paying in commissions. It's worth at least a good try," said Mangan.

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