CHOOSING ME WILL SAVE YOU MONEY
FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind selling it yourself is that by doing so, you save the approximate 6% that would be the agents’ commission.
But before you run off and decide to sell your home FSBO, you must remember that to get a savings like that, there must be a cost. So what’s the catch? Selling FSBO is hard. A lot harder. Only about 10% of sellers that decide to do FSBO are successful at it. And not all of them end up saving themselves money. FSBO sellers often end up accepting a lower price for their home than they would with an agent.
You see buyers that consider buying a For Sale by Owner often have a Realtor since they want to be represented & it's free for them to do so . In that case the For Sale by Owner seller must be willing to compensate the buyer's Realtor with 3% commission . Then the remaining 3% that the seller expects to save is often negotiated away because unlike the buyer that seller doesn't have a Realtor to negotiate on their behalf . The buyer knows the seller is saving on commissions by not listing their home with a Realtor and they expect that the seller should be willing to come off of their price by at least that extra 3% that they are saving by selling it privately .
There are of course other issues as well. Selling your home yourself is a full-time job . Are you willing to pay for the marketing it takes to get exposure in today's market where the majority of all home searches begin online? When you aren't listed in the mls system with a Realtor you won't have that exposure on sites like Realtor.com, Zillow, Trulia etc . Do you have the time and capital to spend on the marketing, advertising, inspections, paperwork, phone calls, showings, open houses and typical problems that come up when any home is sold? Listing with a Realtor alleviates those issues because you have a licensed professional scheduling your showings , advertising your property for you & handling all of the paperwork and negotiations . It almost always pays to use a Realtor because then not only is the process a lot less stressful because you have a professional handling it for you but when it comes time for offer negotiations a Realtor will work hard to make sure you get top dollar for your home.