FSBO – Growing Trend In Real Estate

Posted on October 19, 2013 by Jesse

For Sale By Owner is a growing trend in the real estate market which could save you thousands in real estate fees.  Going the FSBO route enables home sellers to skip out on listing agent costs and instead list and sell the home themselves.

Although you will save on listing your home, you must still be prepared to give your buyers listing agent a commission.  To take advantage of your lowered real estate fees, you should increase the commission to the buyer agent by a bit more than the average, as incentive for real estate agents to bring more buyers to your home.

Being your own agent requires you to become knowledgeable about the real estate market. Understanding fair market value is crucial for the pricing of a home for sale. The best way to establish this is to look at recently sold comparable MLS Listings. It’s important to note how much similar homes in area with common features, have been sold for in the current market.  This will help you to price your home competitively.

When you are the only point of contact for interested buyers, you will get a better sense of how your home is being perceived.  You will be there for the showings, open houses, and be the one negotiating contact.  When you have direct contact with your buyers and less agent back-and–forth negotiations, closing a deal is quicker and easier.

When you’re selling your home, you’re also in control of all the major decisions including where and how to advertise.  According to the National Association of Realtors, over 77% of home buyers use the Internet to search for homes.  There are many sites, which focus on advertising for sale by owner homes to ensure you get the most exposure.

All of the tools you need to sell your home are at your fingertips (or simply a ‘click’ of the mouse away).  Now it’s up to you to take advantage of them and start saving money.