What is it?
Even if you’ve never done it before, selling a house without an agent can be done. With today’s online tools, and specialty services such as Home Sales Services, Inc., you can reduce the risks normally associated with the FSBO process. With some good research, proper preparation and some hard work, you may be able to save a lot of money.
Beyond the monetary savings, there are several other good reasons to sell your house on your own. You know your home better than anyone else and may be able to communicate its benefits and history better than a broker who has only recently come onto the scene and has limited knowledge of the home’s features. Selling your home yourself also gives you complete control. You won’t have to wonder if a broker is being honest with you, and you’ll be able to market your home in the way you’re comfortable with.
Make sure you secure an online listing that gives you a MLS listing. Buyers are also usually more comfortable dealing with a broker, so be prepared to receive calls from a broker. You’ll need to decide whether you are willing to pay a broker’s commission if they bring you a buyer. Also, be prepared to settle for a lower sale price than you might get with an agent – as the buyer also knows you’re saving the normal commission.
The FSBO process is time consuming and potentially stressful. You will have to handle things on your own that an agent normally does, such as placing ads, scheduling tours, negotiating, etc. You’ll still need the help of some professionals (inspector, lawyer, title company).
If you’re up to the job, the benefits are great! You can save a large amount of money, and acting as your own agent can be a satisfying experience.