The real estate market is troubled to say the least. Property values have declined considerably.
When a seller decides to sell their property without using a realtor, the seller can list their property for 3% less than the property's market value. With the average realtor commission at 6%, the seller actually ends up with 3% more than had used a realtor, while the buyer spent 3% less. This win-win situation is the way to successfully fight the declining market.
Naturally, when a seller offers their property for 3% less, more buyers become interested. And after an accepted offer, the seller retains more of their hard earned equity, while the buyer has acquired less of a financial burden.
With the existence of the internet, it is much easier to market your house yourself. Many have created blogs and use internet listing services.
A seller should also use the MLS. The MLS is the local listing service used by realtors and buyers. There are many ways to get on the MLS without using a realtor. Many websites offer the seller to list on the MLS for a flat fee. There are also sites that will post your listing on the MLS for free.
When a seller posts their home on the MLS, they must understand that the MLS is mostly used by realtors. It is illegally to have a buying agent consider your home for their client if you do not offer a commission. The seller should offer a 2% -3% commission to attract buying agents. If the seller uses the right online listing service, the commission will not be paid if the home is sold outside of the MLS. This way you can get the best of both worlds.