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| by Images_of_Money |
FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of
selling your home without the use of a professional real estate agent or
broker. The idea behind FSBO is that by selling your home yourself, you save
the approximate 6% that would be the agents’ commission.
6% may not sound like a lot, but it can add up, especially
on more expensive homes. But before you run off and decide to sell your home
FSBO, you must remember that to get a savings like that, there must be a cost.
So what’s the catch? Selling FSBO is hard. A lot harder.
Only about 10% of sellers that decide to do FSBO are
successful at it. And not all of them end up saving themselves money. FSBO
sellers often end up accepting a lower price for their home than they would
with an agent.
There are of course other issues as well. Can you afford to
make selling your home your full-time job? Because for a lot of FSBO sellers,
that’s exactly what it is. Do you have the time and capital to spend on the
marketing, advertising, inspections, paperwork, phone calls, showings, and
problems that come up when any home is sold?
Selling with a professional agent also has other advantages.
An agent can get your home listed on the MLS (Multiple Listing Service) and
other popular websites where not only homebuyers but also other agents can
easily find it. Professional real estate agents also have an extensive network
that allows them to more easily find a buyer.
So before you decide to sell your home yourself,
thoughtfully consider just how much time and effort you can spare for selling
your home, as well as how important it is that your home sell sooner rather
than later.
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