Should I List My Home For Sale By Owner in Dayton Ohio?

In Dayton Ohio, selling your house for sale by owner without hiring a real estate agent is easy and could save you thousands of dollars in agent commissions and fees. The average Realtor® commission rate in Dayton, Ohio is 4% – 7% of the sales price of your home. This does not include any extra fees (brokerage fees, admin fees, franchise fees and filing fees) that most large real estate brokerages charge you above and beyond the 4% – 7% commission. So, if you sell a home for $250,000, you’re going to pay a whopping $15,000 in real estate agent commissions and a potential $1,000 – $2,500 more in miscellaneous fees. This is a huge portion of your potential profit that can easily be saved by selling your home for sale by owner.

If you choose to list and sell your home for sale by owner (FSBO), you will cut the commission you would normally pay in half, and you’ll have full control of the sale and no contractual obligation. The only real downfall to selling your house without an agent is, you’ll have to field phone calls, set up showings, and negotiate with buyers’ agents. In the grand scheme of things, these tasks are not difficult, especially when you look at how much money you are going to save. Selling a home for sale by owner is quite easy and financially rewarding.

If your intention was to list your home for sale by owner but you are now rethinking the idea after realizing that it’s going to take some work on your part, there is another option. You can search out a full-service real estate agent in Dayton, Ohio that will list and sell your home at a discounted commission rate or even a flat fee. We recommend giving us a call at (937) 750-5055 as we provide sellers with different discount listing options, including a one-time flat rate listing fee.

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How To Sell Your House For Sale By Owner in Dayton Ohio?

HOW TO LIST YOUR PROPERTY FOR SALE BY OWNER IN DAYTON OH

If you are interested in listing your house for sale by owner in Dayton, Ohio, I’m going to explain how to do this and the required documents you will need. First, when you are listing a home for sale by owner, you will want to make sure that your property is clean and ready to accept visitors (potential buyers). Next, you will want to take interior and exterior photos of your home. You will want high resolution real estate photos, which can be taken on nearly any Android or iPhone. Once you have taken your photos, you will want to resize the images to 1536 pixels wide by 1152 pixels high for best quality. Now, it’s time to determine the listing price of your home. Determining what price to list your home for sale at is the most important step when listing any property for sale. Below, I have outlined exactly how homeowners can determine the correct price point when listing a house for sale by owner and without hiring and paying a real estate agent. Finally, you will need to fill out a few state required documents that should be given to any/all potential buyers. If you require more guidance before listing your home for sale by owner, feel free to contact us by phone (937) 750-5055 with any additional questions you may have.

RQUIRED DOCUMENTS WHEN LISTING A HOME FOR SALE IN DAYTON OHIO

Homes For Sale By Owner Dayton Ohio
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How To Accurately Price Your Home Before Listing For Sale By Owner

Once you decide to list your home for sale by owner, you’ll want to make sure that your list price is not too high or too low. If you list your home for more than it’s worth, you’ll sit on the market for an extended period of time and field unwanted phone calls with offers much lower than you’re expecting. If you list your home for sale at a price much lower than other homes that have sold in your neighborhood, you risk the chance of missing out on thousands of dollars by accepting a lowball offer. Understanding how to set your home’s list price is the most important factor to consider when listing your home for sale by owner. If you are thinking about listing and selling your home without an agent, you’re probably asking yourself: “how much is my house worth?” To get a clear understanding of your properties true value, we offer a no obligation consultation that will enable you to accurately price your home to sell.

So, to list your home for sale by owner at the correct price point, you’ll want to log onto Zillow.com. Once you are on the home page of Zillow, you’ll want to enter your home’s address into the search bar located in the top center of their homepage. Once you have entered your home address, hit the enter key on your computer. This will populate your home’s previous listing and all data associated with it. You can now scroll down to the “Comparable Homes” section where you will see a list of homes in your neighborhood with similar features as your home, such as bedrooms, bathrooms, location, and square footage of nearby homes that have recently sold. Now, you will want to look at the photos and descriptions of recently sold homes in your neighborhood and compare them to your home. This will give you a very good idea of what you can expect to list and sell your house for in your current local real estate market.

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Understanding How Realtor® Commissions Work in Dayton Ohio

One of the main reasons home owners decide to list and sell their house for sale by owner is because it can save them thousands of dollars in real estate agent commissions. There are four different scenarios concerning commissions when you list and sell your home. Below, we will outline each scenario and how it will affect your net profit when selling your home.

  1. Scenario #1 – List your home for sale with a licensed real estate agent and sell to a buyer that is also represented by a licensed real estate agent.

    For generations, this has been the traditional model. When a home owner lists their home for sale with a licensed real estate agent, they will sign a legally binding “listing agreement” which will outline the home owners’ obligations. One of these obligations is that you will pay your listing agent a specific percentage of the sales price of your home. It will also outline a specific percentage of the sales price that you will pay the buyers agent. Generally, in Dayton Ohio, you are going to pay 6% – 7% of the total sales price of your home in agent commissions ($350,000 home sale multiplied by 7% agent commissions = $24,500.00 is the amount of money you’ll owe the agents at closing).

  2. Scenario #2 – List your home for sale by owner and sell your home to a buyer that is represented by a licensed real estate agent.

    Scenario #2 is very similar to scenario #1 except you will list and sell your house for sale by owner (FSBO). Because you will be listing your house as a FSBO, you will alleviate 3% – 4% in real estate agent commissions. Using the numbers in scenario #1 as an example, scenario #2 is going to save you roughly $12,250.00 in agent commissions.

  3. Scenario #3 – List your home for sale by owner and sell your home to a buyer that is not represented by a licensed real estate agent. In this scenario, you would pay $0.00 in real estate agent commissions.

    If your intentions are to pay zero dollars in agent commissions, scenario #3 is going to be your best option. If you list your house for sale by owner and the buyer has a Realtor® / real estate agent, you can always decline to pay a commission to the buyer’s agent. If the buyer wants the home bad enough, they can always pay their agent from their own funds.

  4. Scenario #4 – List your home for sale for a flat fee with a discount real estate agent and sell your home to a buyer that is represented by a licensed real estate agent in Dayton Ohio.

    In this scenario you are not going to list your home for sale by owner. Instead, you are going to hire a licensed real estate agent that agrees to provide full service listing agent services for a negotiated flat fee. So, you will sign a real estate listing agreement stating that you contractually agree to pay your listing agent a flat fee and you also agree to pay the buyers agent anywhere between 2%-4% of the sales price of your home. Before signing any documents, make sure that your listing agent is going to provide a full line of services (place a “for sale” sign in your yard, answer calls, set up all showings and upload your listing to the MLS, Zillow.com and Realtor.com)

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(937) 750-5055