If you’re curious about FSBO and checking out your options for selling your home, read on.
Homeowners who choose to go the FSBO route all have different reasons, but most sellers who choose not to use a middle-man in a real estate transaction want to save money, in fact, in the recent NAR survey for Home Buyers and Home Sellers, 39% of respondents say they don’t want to pay a commission. This is probably the biggest lure for homeowners who want to take a chance on FSBO.
You can sell your home on your own. That is a fact. Not every seller is a candidate to sell by owner though. Before you consider selling your home on your own, ask yourself these questions.
- Am I ready to take on a project that will take a lot of my time, effort, and will bring a lot of stress?
- Can I effectively market my house especially on the internet where most buyers look for homes?
- Can I negotiate objectively with buyers who can be critical of my home and will negotiate hard to get the best deal they can get?
If you are completely sure that you can take on these challenges, then that’s great. Now you can prepare for the other challenges that you have to face from preparing your home for sale to the closing table.
Challenges of FSBO
FSBO or Sell your Home with an Agent?
Determine the advantages and disadvantages of doing FSBO in your situation. FSBO may sound easy and look attractive for sellers who want to save money on agent commission but it also means more challenges. From staging, marketing, open house, negotiations, repairs, to paper works you have to take care of this yourself. If you are in hurry to sell your home, FSBO might not be the right choice for you. However if you are not hard pressed for time, and you think you can handle the challenges of selling FSBO, it may be an option for you.