Studies show that private sellers make more money

Independent studies by Northwestern and Stanford Universities have both shown that people who sell their homes privately usually make more money from the sale of their home than people who use real estate agents.

A 2007 study by Northwestern University found that there was no difference in sale prices between houses sold without an agent, and agent-sold homes, with the private sellers keeping an extra 3 to 6 percent, because they didn't pay any commission.

The Stanford study found that houses at Stanford University actually sold for 7 percent more when no agent was involved. One of the Stanford researchers says that could be because agents are willing to sell a house quickly, even if it means selling at a lower price.

Stanford's Jonathan Meer says waiting another month to sell a house for an extra $10,000 will only net the agent about $150 after expenses.

Northwestern's Igal Hendel says selling without an agent is an attractive option that could put pressure on real estate fees.

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