For people interested in selling their home without the services of a real estate agent, they have a lot of work ahead. However, the benefits of going with a “For Sale by Owner” or FSBO is freedom from paying the high cost of commission. However, as a FSBO, this means you would do all your own advertising, marketing, contracts, etc but if you have time and dedication to the process, a FSBO can be a very successful and lucrative way to sell a home.
The truth is that the number of people realizing the ease and economical benefits of a FSBO is growing. In fact, you could easily save thousands of dollars. For instance, if you had a home that you were selling for $150,000, if using a real estate agent that charges the standard 6% commission, you would be handing over $9,000. By going with a FSBO, that money goes directly into your bank account.
Keep in mind that some money would need to be spent for advertising, working with an attorney to draft the contracts, and so on but money well spent, still putting you ahead of the game. The key with a FSBO is doing your homework so you know exactly what you will be getting into, as well as the appropriate and legal steps for making the sale. Because selling a home can be complex and a bit overwhelming, we now see a special type of service popping up around the country in the form of FSBO assistance.
These services were actually started by a man who was a real estate agent. After years of selling homes the traditional way, he wanted to help sellers hold onto more of their money while still making a decent living himself. With this type of service, questions by the FSBO seller are answered. Additionally, the seller can turn to the FSBO assistance company, asking for guidance so mistakes do not occur.
The result of working with a FSBO service means a win-win situation for both parties. For the seller, they avoid paying huge commissions so all the years of building equity pay off. However, for the person running the FSBO service, they can make the sale possible, quickly and efficiently while earning a lower commission of 2% or 3%. Sellers can now sell their own home with confidence and support while the FSBO service can provide a much-needed service while earning a fair and honest living.