Many people choose to work with a real estate agent when buying a new home. However, there are advantages to choosing for sale by owner instead. Here are four reasons why you should consider looking at real estate for sale by owner in Minneapolis, MN.
- Save on Commission Fees
The most obvious advantage of working with a for sale by owner is that you’ll save on commission fees. When you work with an agent, they’ll typically charge a commission that’s equal to 3-6% of the purchase price of the home.
When you work with a for sale by the owner seller, you won’t have to pay this fee. This can end up saving you thousands of dollars.
- Get More Negotiating Power
Another advantage of working with a for sale by owner is that you’ll usually have more negotiating power. Because agents typically want to sell the home as quickly as possible so they can get their commission, they may be less likely to negotiate on things such as price or repairs that need to be made before closing.
When you’re dealing directly with the owner, they may be more likely to negotiate on these things since they’re not under pressure to sell quickly.
- Know What You’re Getting Yourself Into
When you work with an agent, there’s always a risk that they may not be completely upfront about everything regarding the property. After all, their goal is to sell the home as quickly as possible.
When you buy real estate for sale by owner in Minneapolis, MN, however, you can be sure that they’ll give you all the details about the property so there are no surprises down the road.
- Have More Control Over the Process
Finally, working with a for sale by owner-seller gives you more control over the entire process. When you work with an agent, they’ll often dictate how things will go since they have more experience in the industry.
However, when you’re working directly with the seller, you can have more input into things such as showings and open houses. This can make the process less stressful and more enjoyable overall.
