FSBO also known as For Sale By Owner has definite advantages in certain situations. What made it popular to home owners is the cost they save on realtors’ or brokers’ fees. At most, home owners save up to 6% of the asking price when they opt for FSBO. At times, this amount can be tempting enough to forego the realtor’s services. But before you make a decision, let’s take a look at the advantages and disadvantages of going the FSBO route.
Realtors have marketing leverage. They can list your home in MLS plus they have contact with other agents through their network which gives you the advantage because you are sure to reach wider prospects. On the other hand, since realtors handle multiple clients at once, you cannot expect them to devote their time on your property alone. It is true that realtors can list your home in MLS but it will only become as one of their many listings.
When you hire a realtor, he will take care of showing your property to prospective buyers. He will help you prepare or stage your house before the showings. He will answer questions from buyers, set up open houses and handle financing and closing issues. With FSBO, you will be doing all these work by yourself.
With FSBO, you can save up to 6% of the asking price. Let’s examine this further by taking a look at these situations:
- You will be paying your own advertising – online listing, local papers, making of signage, flyers, posters, and print ads.
- You will be paying for an attorney who will be handling the legal issues and drawing up of contracts.
- If you don’t know how, you will be paying for a consultant who will do the comparative analysis of your home.
Do you think you can still make the most money after examining these costs? Do not forget that when you choose FSBO, you will also invest time and effort in the selling process.
Are you still decided to go with FSBO? You can skip the marketing and property showing and still save on the realtor’s fee by selling your house to private cash investors.
Sell your house for cash to Lucas Properties LLC. Unlike realtors, they do not ask for commission. They take away the strain by taking care of the closing documents making every transaction hassle free.