For Sale By Owner (FSBO)
When you chose to sell your home without a real estate agent, most likely it’s to save money. Research has shown that selling a home privately can save as much as $9000 during the home selling process. Don’t be swayed by the money savings alone. A qualified real estate agent costs money because they have experience in the market. They are more likely help you pick a correct selling price, market your home for a quick sale, offer you valuable advice that will help you show your home to potential homeowners, and has an established network of people who are buying and selling homes everyday.
Selling a home privately will affect your marketing process. Without listing your home with an agent makes it harder to access your home by other real estate agents looking for a home to show their clients. You might need to figure out ways of finding buyers without this service. You can hold open houses or put advertisements in local newspapers or on the internet.
There are other disadvantages to selling your home privately, that you will need to plan for. When a buyer sees that a house is being sold privately, they will often offer a lower price, because they know you’re saving money by not hiring an agent.
On the other hand, it is understandable that some people would like to sell their home on their own. Selling your home privately means being in total control of the transaction. You know that you will always be available for questions or home showings. Whenever you make a mistake, it’s yours and only yours to blame.
Also, remember, you’ll be competing with professional agents and their clients’ houses – make sure your house stands out! Make sure that you get maximum exposure in all places possible to market your home in your community.
You also need to get educated in the legal requirements of selling a home and designing a contract, so get help from an attorney and start researching long before your selling date.
When planning to sell your home on your own, make sure that you have the time and resources to make the process successful. However it can also be time consuming. If time and knowledge are no problem, then I am sure that you will have no problem putting the money saved to use.