For Sale by Owner FSBO Pros & Cons
All homes are for sale by the owner. It is the owner who holds the title. Homes for sale by owner FSBO are offered by unrepresented sellers or by agents who represent and advise the seller while marketing their home.
Pros
- (NO Commission Fees) A 6% Commission on the average selling price of $256,000 is about $15,000!!!!)
- (YOU’RE In CONTROL) When Listing your property as FSBO you will have the luxury of picking your own price, scheduling your own appointment times that are convenient to your schedule and the capability to negotiate “when and how” with your potential buyers! (When real estate agents are involved they may need to do a walk-through with potential buyers at any given time of the day)
- (Knowledge Is POWER) You know your home better than any agent so you can point out all of its amenities. A realtor® is going to try to remember all the features of your home along with all the other houses he/she is currently selling. There are lots of networks and venues for you to list your home. You can put a sign on your lawn with attractive flyers, put up an ad on Craig’s List, list it in local papers and on websites like beycome.com, ForSaleByOwner.com®, HomesByOwner.com®, Zillow.com® and Owners.com®.
Cons
- (Less Visibility) Your home will have less visibility. While there are lots of venues for you to promote your home, only realtors can list homes on the Multiple Listing Service®, which is one of the biggest online tools real estate agents use. ***Get Listed TODAY With beycome’s Flat Fee MLS® Option. A 1 time Fee Of $99 will Have Your Home Listed On The MLS® until Property Is under CONTRACT!!!***
- (Preparing All Legal Documents) Preparing all of the legal forms, disclosures, etc. is your responsibility, and if you’re unfamiliar with the guidelines and requirements, which most of us are, you take the risk of financial and legal liability. You’ll have to spend a lot of time educating yourself on the process of selling a home, the current market, advertising methods, and working with potential buyers.
- (Scams) Imagine that A nicely dressed, well-spoken woman comes to see your home. She loves your decor, pays you compliments, and asks to take some digital photos so her husband, who is away on business, can see the pictures. You have no objections. In fact, the prospective buyer has just taken pictures of your most valuable possessions and documented the location of the rooms. If you have a home security system, she may have taken a picture of the motion detectors and the security keypad. Be Careful Be Aware and most of all BE PREPARED!!!!