Do-It-Yourself Home Selling To Save Cash

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NASHVILLE, Tenn. - Tough economic times mean more Midstate homeowners are skipping the middle man and selling their property without a real estate agent's help.

In 2007, 12 percent of home sellers sold their homes themselves, according to the National Association of Realtors. It was about 18 percent in 1997.

Property owners often turn to the Internet to attract a larger audience.

Sellers such as Kyle McKiness hope For Sale By Owner cuts corners and saves money at the same time.

"Already had six people drop by today," he said Monday.

McKiness works in architecture, designing homes.

He hopes to save 3-6 percent or $6,000-$7,000 by selling his home on his own.

"We decided to use Craigslist.com," he said about posting information on the popular Web site where people request roommates, employment and furniture sales, etc.

Real estate agents such as Nathan Burton also embrace the Internet because it provides maximum exposure of their properties.

"It's amazing the number of people that actually come to my Web site or come to home tours, virtual home tours of my houses that are directed from Craigslist," said Burton of Crye-Leike Realtors.

Virtual tools are selling tools, he said. They can be arranged by simply using a camera and a computer cord.

Nowadays anyone can buy just about anything on the Web and real estate is no exception.

McKiness said currently his family is pinching pennies, which included eliminating the use of a real estate agent.

While some believe the "self-sell" approach is successful, there is a downside to skipping an agent.

Homeowners will have to sift through a mountain of paperwork, much of which the general public might not understand. Also, showing a house becomes their responsibility. One disadvantage to using the Internet, Burton said, is opening up one's personal space to the entire world, which potentially sacrifices some privacy.

Despite the sagging economy, some local real estate agents said Nashville is still doing better than the national average in terms of home sales.