This is one of the 21 tough financial questions posed in the “Do This or That?” cover story in the September 2011 issue of Kiplinger’s Personal Finance. Use the drop-down menu above to consider other financial conundrums and the right answers for you; share your own experiences and insights in the Discuss field at the bottom of this page.
Hire an agent if you’ve never sold a home before and your market is highly competitive. In 2010, the average commission nationally was 5.4%, according to Real Trends, but the best agents are sometimes able to command the traditional 6%. That pays both the listing agent and the buyer’s agent.
Sell it yourself if you have the time and energy to market and show your home. To ensure success, advertise your for-sale-by-owner home on a multiple listing service. For $395, Owners.com will post your home on the local MLS as well as on Realtor.com. To entice buyers’ agents to bring their clients, advertise a 2% to 3% commission.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
SEE ALSO:
QUIZ: How Smart a Home Seller Are You?
SLIDE SHOW: 10 Cities Where Home Prices Have Fallen Most
SLIDE SHOW: 10 Cities Where Home Price Have Held Up Most
-
Visa Is the Worst Dow Stock Wednesday. Here's WhyVisa stock is down sharply Wednesday after the credit card company came up short of revenue expectations for its fiscal Q3.
-
Another Analyst Moves to the Sidelines on Tesla Stock After EarningsTesla stock is spiraling Wednesday after the EV maker's big earnings miss and Wall Street has been quick to weigh in. Here's what you need to know.
-
Best Foreclosure Listing Sites for Finding PropertiesMaking Your Money Last Wondering how to find foreclosed homes for sale for your next residence or to flip for a profit? These websites will guide you to foreclosures and real estate-owned properties to buy.
-
Luxury Home Prices Rise as the Rich Dodge High Mortgage RatesLuxury home prices rose 9% to the highest third-quarter level on record, Redfin reports, growing nearly three times faster than non-luxury prices.
-
Four Tips for Renting Out Your Home on Airbnbreal estate Here's what you should know before listing your home on Airbnb.
-
Five Ways to Shop for a Low Mortgage RateBecoming a Homeowner Rates are high this year, but you can still find an affordable loan with these tips.
-
Looking to Relocate? Plan for Climate Changebuying a home Extreme weather events are on the rise. If you’re moving, make sure your new home is protected from climate change disasters.
-
Retirees, A Healthy Condo Has a Flush Reserve FundSmart Buying Reserve funds for a third of homeowner and condo associations have insufficient cash, experts say. Here are some cautionary steps you should take.
-
Cash Home Buyers: New Services Offer Help Making All-Cash OffersBecoming a Homeowner Some firms help home buyers make all-cash offers on homes. Weigh the fees before you sign on.
-
Home Sale Prices in the 50 Largest Metro AreasBecoming a Homeowner What’s happening in the market where you live?
