Do you want to sell a home without the help of an estate agent? More people are taking the for sale by owner route when selling a home. Not only does it save money, but it can also be surprisingly easy.
If you are considering FSBO, then we are here to help. Read on for our must-know guide on selling for sale by owner.
The most attractive benefit of for sale by owner is that you do not pay a real estate commission. Although this can be negotiated with the agent, it will always be a sizable sum, even on the smallest properties. This averages around five to six percent of the overall selling price.
If your goal is to maximize the cash available, then selling yourself is the best way to go. However, you should total up what is included in the real estate agent’s fee and see if it works out after your FSBO costs. For example, you may still have to pay for marketing and listings which they may have done for you.
You Retain Control
One of the benefits of FSBO is that you retain control of the property during the sale. You do not have pressure from an estate agent to make sales. You can choose who comes to view your house and who you decide to sell it to, with the price you want.
In addition, you can pick what you do to the home before the sale. You can choose to spend the money on renovations, or simply decide to sell as-is.
No Competition With Other Clients
Very often, real estate agents have a number of people and properties on their books. This can mean that in a buyers market with lots of properties for sale, your home can get swamped amongst their workload.
They may have other properties with bigger commissions that are their focus. By selling yourself, the home gets your full attention.
The Resources to Do It Are Available
Many people think that how to do a for sale by owner sale may be a problem when it comes to marketing. However, there are numerous resources available for you to help you sell.
As well as listing sites like craigslist and local sites, there are quite a few FSBO specialist websites. Many of them charge a flat rate to list your home in multiple places, doing the marketing for you at an affordable rate.
You Have More Options
When selling FBSO, you have more options in general. If it does not work out, you can always contact a real estate agent. If you decide that you need a fast sale, contact a company that advertises ‘We buy houses for cash‘ and see if you can make a sale that way.
Pros and Cons of for Sale by Owner
In summary, for sale by owner, brings more profit as you do not pay commission. However, a lot of the hard work and marketing done by the real estate agent is down to you.
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