In what cases should I use FSBO model instead ot turning to realtor?

Question

FSBO is a kind of fashion today. Please tell me in what cases it's more profitable to sell house with a help of agent and when I need to prefer FSBO.

Answer 1

To be honest with you there is never really a time where FSBO is the best way to go. And I know that no one wants to hear that. Trying to sell your own home is like trying to give yourself a haircut, You might be able to do but most likely you will just end up looking like a fool. LOL that was a joke before I give you the hard facts.

Out of all FSBO 91% end up listing with a Realtor. 3% actually sell the home. The other 6% end up just pulling the home off of the market.

FSBO homes sell for 12% less than homes listed with a Realtor and seeing that a standard Brokerage fee is around 6% that means you are costing yourself 6% of the selling price of your home. According to the average selling price in my ciity thats about $15,000. You may think you are saving yourself some money but in the long run it cost you to do it on your own.

I know that was not the information you wanted but I hope it helped.

Answer 2

I am a Realtor, but I don't mind FSBO, or helping those going that route.

Bear in mind, the first thing that people will ask for when you are FSBO is the percentage of commission that you would be pocketing by not using a Realtor. And according to recent statistics, FSBO receive 16% less than similar houses sold by a Realtor.

In my area, most FSBO are overpriced, poorly marketed, and don't show well. So do what a Realtor would do. Price appropriately for your market, make flyers, produce good advertising, and get the home market ready. (Declutter, depersonalize and clean) Many home shoppers start their search on the internet. There are so many FSBO websites out there, no one site has a dominating market share. So choose wisely where you spend your money to advertise your home.

If you are going to do FSBO - SAFETY FIRST. Have an "appointment only" policy and stick to it. People will see your sign and knock on your door wanting to see the home. Don't ever show the house alone, make sure a friend, family member or trusted neighbor is there with you. Take expensive items out, or store them somewhere out of sight of those viewing the home.

Try it by FSBO first, and if it doesn't work out, you can always find a Realtor to assist you. Good luck!

Answer 3

Do you have the time and energy to get all the ads out and tend to home shoppers ?

Some FSBO just put it in the classifieds ,
Then it lingers .

You only save $$$$ if you can really succeed in selling it .
Can you do the all the promotion tasks ?
Try FSBO , you can always list with a realtor later if you discover you are Not a real estate sales person .

>

Answer 4

I sell my own house with help of FSBO and I may say that it have a lot of advantages. First of all, in case you use FSBO you will have full control over the sale of you house. And you will save the 6% commission of your sale price. But I think that not every person can go ahead and sell their own home themselves. You should get full info about FSBO and only after that make the end decision. http://www.fizber.com/ It is a really good web-site that which may help you to make a good penny-worth.

Answer 5

The fact is, you may be able to sell your home as a FSBO, but I would be lying to you if I said that your chances to sell would not increase enormously if you hired a real estae professional to assist you.
You will save money on commission and therefore be able to sell you home for a slightly lower price as a FSBO, BUT, all marketing costs will come out of your pocket as opposed to a Realtors pockets. Also you will have to negotiate and address all contractual matters on your own without any professional advice. Some people may think that this is easy, but it really is not unless you have experience with this sort of thing.
Finally, a FSBO will be seen by only the individuals that drive past your house and see your 'For Sale By Owner' sign or read your ad in the newspaper (if you are willing to pay for it, and it actually catches their attention). With a Realtor, the property will be placed on the MLS and viewed by ALL Realtors in your area to pass on to all of their potential buyers. It is the equivolent of fishing in a pond as opposed to fishing in the ocean. You can catch fish in the pond, but your chances are significantly lower.
More important than anything is that you have AN ATTRACTIVE PRICE. In this market that is more important than anything as you WILL NOT sell as a FSBO or with a Realtor if your home is overpriced.
Good luck!

Answer 6

Here is the rule of thumb: If you have to ASK, and you don't know the difference between the two, then you most likely need the use of a Realtor.

Getting a contract signed is the easy part...getting it to close legally and on-time is the hard part.

Have you noticed all of the questions on Yahoo Answers of people that have done real estate transactions without a realtor and the horror stories? If you can live with any one of them...then go for it!

Answer 7

Hi,

FSBO is a good option if you can sell the house on your own. Checkout http://realestateguide.financialdealsonline.info for some useful info on the matter. Good luck.

Answer 8

A person selling their home should always consider selling it themselves for at least the first month to "Test the waters". Two of the houses I've lived in got a contract within the first month. It was because the locations were great and the prices was right. These homes practically sold themselves. But not everyone has great people skills and should leave it to the professionals.

Answer 9

When you don't want any representation, when you don't want any help in marketing, when you don't want any help in negotiation, then FSBO might be the answer for you.