Do I sell My Home "For Sale By Owner"?
In a For Sale By Owner situation (also known as a FSBO) properties are sold directly by the homeowner without the use of a real estate agent or broker. In general, a homeowner would elect not to use the services of a real estate professional in order to avoid paying the agent’s commission fee – approximately between 4 and 6 percent of the purchase price.
The National Association of Realtors reports that the majority of FSBO’s end up listing with a Realtor eventually. Part of the reason is because most buyers are represented by an agent. Moreover, most FSBO sellers price their homes too high, scaring off would-be buyers, or to low leaving money on the table.
According to the NAR(National Association of Realtors) ,"sales that are negotiated through a real estate broker sell for 16 percent more than if the owner sells themselves. So, even when you consider you're saving the siz percent broker's fee you're still losing 10 percent."
Questions that you might have:
*Do you have the knowledge of real estate laws that a broker has?
*How do I establish a price without access to currently listings and especially price of homes that have sold that are comparable?
*Will I need legal help to cover State Laws?
*What Disclosure details am I required by law to give to the buyer?
*What repairs do I need before I sell?
*How do I Market my home since I cannot get onto the Multiple Listing Service?
*How will showings be handled?
*Can I negotiate offers properly?
Prospective buyers who look for properties that are "For Sale By Owner" (FSBOs) are also wanting to avoid the commission--and to get a less-than-market-value deal. However, nothing is saved in the majority of FSBOs. Listing your home with a real estate professional can spare you the inconvenience of showing your home and save you the time you would spend talking to buyers who could not qualify for a loan.
I have learned how to sell a home by 29 years of experience. I know the ins and outs of real estate as it does change from year to year. It is my job to personally advise homebuyers and sellers. Ask me if you have any questions. I would love to help. Just fill out the below information.