Sell it yourself (FSBO)?

Question

Before listing your house with a real estate agent,
give serious consideration to going the For Sale By Owner (FSBO) route and save yourself a bundle of money. Is it easy?
No. Is it as difficult as the Realtors like to make you believe it is?
No. You have to do your homework, but the bottom line can be
well worth it.

Answer 1

We have sold two of our homes FSBO. It is not hard at all, people make it out to be more difficult then it actually is. I just could not see paying a realtor to show my house, I had the control of when to show it, I knew more about my house then a realtor would.
I will only ever FSBO. The money is well worth it also.

Answer 2

Alot of people think that the big part is finding the buyer. Some think the hard part is knowing the laws. Others, pricing, negotiating, the risk of getting sued... or assaulted by a stranger while showing the house. All of these are important things to consider as a balance against paying a Realtor to guide you through the sale of your home.

If, after you've considered it you do want to make a go of it and try to do it as a FSBO, go for it. You're the "Listing Agent". Treat yourself like one. Give yourself a "listing time" and if your agent (you) cannot get the job done, hire a different agent.

If you feel you can find a buyer on your own, but you're not sure of the legal stuff.... that's OK. You can still save yourself some money. Market the property yourself. Show it yourself. Find interested buyers. DON'T SIGN ANYTHING YET. Now, call the Realtor that you did like and thought "If I had listed my house, I'd have listed with that Realtor." Have that Realtor take you and your buyer through the contract and up to closing. You can pay them maybe 3% or even 2% and they should be very happy to get the deal. I do this for FSBOs as often as I can.

Answer 3

well, first let me start by saying that i'm not a realtor but i work at a real estate agency....i have seen alot of successful people sell their homes with out a realtor....the thing that catches everyone is not finding the buyer...its all of the legal paperwork that goes with it....poeple end up in such a mess and loosing their buyers because they didn't know the laws....realtors do. even if you CAN find buyers for your property, they can help keep the buyers! it is very rare that i see a transaction run smoothly at the title company and through to closing. and almost never do i see it with FSBO's. i might save you money in commission but really, the money might end up being spent on legal fees and closing cost, and any other problems....seeing that i just personally find it so worth the money to pay the realtor, plus the commission they make it so minor compared to the advertising they do....a good realtor will have your property advertised in at least 2 magazines, and 2 websites.....at least! so yeah you have to pay money to have your property attached to a big company name, a sign in your yard, and some really great advertising! i see your point and you do what feels most comfortable and if you think you could handle the title conmany and the laws and what comes with it, go for it! it will save you money! good luck!

Answer 4

could save you money looking at how much commission you didnt have to pay...but just think about how much quicker it would have sold if you listed it with a realtor....I am a realtor and all my listings were previous FSBO's and they wish they would have just listed it in the first place....think about it....FSBO 6 months on the market = your house note times 6. Listing it with an agent= sale in 2-3 months and pay them comission...meaning more money in your pocket...and.....you can move into your new home faster!!!!.....it really is worth it almost 85% of FSBO wish they had used a realtor :)

Answer 5

In Michigan...a million. pass to a community identify company and get a on the marketplace by employing proprietor (FSBO) equipment. that's in reality a team of papers which will ought to be crammed out. purchase grant, disclosure assertion, lead paint waiver, etc. 2. hit upon a shopper. 3. Fill out the acquisition contract with the shopper and the two sign it. it in all fairness self-explanatory Get a deposit promptly from the shopper or have the shopper make out a examine to the identify company for the deposit. 4. Fill out the different varieties, regardless of they could be. The identify company will understand what workplace work is needed, that's all in the equipment. 5. Make telephone calls between the identify company representative (ultimate agent), the shopper, and the shopper's loan company representative (if no longer a money sale). you're able to desire to be the single to maintain all of the ducks in a row. be specific all and sundry has all of the workplace work that they choose. The loan company will deliver an appraiser to the valuables. The identify company will prefer to confirm your modern-day possession documents/identify coverage. 6. pass to the ultimate on the appointed time which you and the vendor and the identify company and the mortage company have already set up with the aid of your telephone calls. 7. deliver jointly a huge examine :) 8. an exceedingly final tip...call the identify company each couple of days and ask in the event that they choose something. comparable element with the loan company, call them and ask in the event that they have each little thing they choose. enable them to appreciate you're advertising FSBO and which you are the touch guy or woman/vendor; that there is not any real sources agent. Ditto with the shopper, call and ask in the event that they have all they choose...In Michigan the realtors are in elementary terms a thank you to sell with the aid of their MLS and their Sunday newspaper shade advertisements. The realtor indicators no longer something and does no longer something on the ultimate, the identify company is insuring the hot identify (that that's obvious and unfastened from any 'clouds'), they do all the artwork. believe the identify company to do all of the criminal 'mumbo jumbo'. The identify company prorates the taxes, water/sewer, etc. save 6% of the sale value with the aid of employing making telephone calls between the involved events. that's basic!

Answer 6

1.Are you ready to let strangers into your home without having qualified them as a person that can afford to buy your home?
2.Are you willing to answer the inquiry calls at all times of the day?
3.Are you willing to show your home all day and evenings, especially Saturdays & Sunday?
4.Are you willing to give up your family activities to show your home?
5.Are you knowledgeable and willing to handle the paperwork and contracts yourself?
6. Are you a risk taker?
7. Do you have the expertise to negotiate directly with the prospective buyer?
8. Are you creative enough to market your home?
9. Are you considering selling the house yourself because you think you can make a quick sale?
10.Do you have the patience necessary to handle all of the negotiations?

If you answered no to 3 or more of these questions, please consider contacting Realtor to assist you in selling your home.

Answer 7

It is becoming increasingly more popular to sell yourself. There are also other ways to save on the commissions.

Here is some additional info. Hope this helps.