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Advantages
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Disadvantages
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- There is no Brokerage Fee (commission) to be paid. The proceeds are
all yours.
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- You must rely solely on your own instincts.
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- You are in total control of the process.
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- All marketing and advertising costs are your own.
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- You can move at your own pace.
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- You do not have access to the MLS--the Multiple Listing Service.
You must hunt for buyers one at a time.
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- If mistakes are made, they are your own. There is no one else to
make mistakes "for" you.
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- Without all the tools in hand, you may underprice or overprice the house.
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- The showing of your home is under your direct control: It doesn't
get shown unless you arrange it.
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- If you are not skilled in negotiation, you may leave money "on the table."
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- If your equity is low, you may be able to sell your house without
having to write a check.
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- All of the paperwork, legal forms, etc. are your responsibility.
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- If you want to give maximum benefit to your efforts, your free time
will be somewhat or severely limited.
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- Many buyers believe that if you are selling your house on your own
and not paying a commission, it is they (the buyers) who should get the savings.
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- As you approach negotiations, you must sever emotional ties with
your house or you will place yourself at a disadvantage.
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- You must become knowledgeable in legal and financial issues to be
most effective (and to protect yourself).
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