FSBO – For Sale by Owner
Pros & Cons of Selling For Sale by Owner (FSBO)
When it comes to FSBOs – for sale by owner real estate transactions it is not for the faint of heart. There are many things to consider when deciding to sell your home yourself.
Whether to “FSBO” or sell without an agent is one of the most frequent questions we get asked. To help in your decision making process we’ve put together a list of Pros and Cons to consider when selling your home yourself. It is by no means an exhautisve list. Give it a look and please let us sit down and talk with you. No pressure or obligation, of course!
FOR SALE BY OWNER PROS
NO real estate agent fees are paid. This is usually the #1 reason why people choose to do a FSBO/For Sale by Owner when selling their home.
As the sole person handling the scheduling and showing of your home you can schedule appointments with people to see your home when it’s best for you.
You’ll be talking with the buyers directly. For some people this is more comfortable. You can also negotiate directly with the buyer.
You can set the selling price of your home higher than perhaps a real estate would suggest.
If you are not in a hurry to sell your home you can accommodate the longer time on the market that FSBO usually take.
“I’m always available and would happily sit down and talk with anyone considering for sale by owner. No pressure or obligation” Jennie Hendricks, Broker, Century 21 Prestige Realty..
Have questions? Give the agents at Century 21 Prestige Realty, a call.
FOR SALE BY OWNER CONS
Data shows that owners who do a For Sale by Owner often receive a lower overall purchase price for their home.
Legal disclosures and paperwork. Making sure all the paper work,contracts, legal disclosures, and additional items are completed, accurately, as it is required by law can be daunting. Failure to do so can have legal ramifications that could be costly.
Advertising costs are paid by the seller. When you list with Century 21 Prestige Realty advertising is provided.
Safety! Real estate agents talk with pre-qualified buyers and folks who are in the market to purchase a home. By using a real estate agent you can screen out people who just should not be in your private home.
Agents have a larger network than you do. They might even know someone who is looking to purchase a home just like yours.
Websites such as Trulio and Zillow can be viewed as inaccurate with over inflated prices. People looking for accurate information often search through the local MLS – Multiple Listing Service.
You’ll be marketing, showing and following up with buyers only in the time you’re not at your primary occupation.
Buyers agents may not want to show your property. Further reducing potential buyers.
Longer time on the market. Homes that are FSBO spend more time on the market.