So the market is good and you think you can sell your home on your own. It makes sense, right? The money you can save in commission could really help with the next purchase. The flip side to saving money is the time, energy and emotion involved with the process. Here are some things you should know before you embark on this FSBO (For Sale By Owner) adventure.
How will people find your home as a FSBO?
Even in a sellers market a sign in the yard is usually not enough. Over 95% of homes are sold from a viewing on the internet. You can list on Craigslist, but your best shot is to be on the MLS. There are brokers who will charge you a set fee to get your home listed on the MLS, but the rest is up to you.
Who will take the photos?
A picture is worth a thousand words. Good photos can make or break your home when it comes to the internet. It is your first impression to the savvy buyers who are looking today, so make sure the photos are good, all of them. If this is not your strong suit, hire a professional for under $200.
How will they get in?
If you work full time, you may lose some buyers who are day shoppers. You can always put a lockbox on the door, but that may not feel safe. You will want to schedule showings that accommodate both you and the buyer, and probably one buyer at a time. Be sure to lock up your valuables because they will want to look at everything!
How will you know if the buyer is good?
You will want to get a pre-approval letter or proof of funds from any buyer who brings you an offer. Since you are attempting to do this on your own, be sure to hire a real estate attorney to review all the documents and contract.
Why should you work with an agent?
Commission might seem like a hard pill to swallow, but the upside is having a professional handle and guide you through the process from start to finish. Working with an agent will alleviate the worries of marketing, showings, negotiations and contracts.
Weigh the FSBO pros and cons carefully. The process of selling a home and moving is the 3rd most difficult event in a person’s life. Having a seasoned professional at your side at a time like this can feel like a safe harbor. If you start the FSBO process on your own and find it too overwhelming, don’t fret. Call an agent at Presto Real Estate Services at (800) 495-1120 or email us at firstname.lastname@example.org.