FOR SALE BY OWNER
“ You need to know everything that must be done to close the sale properly and legally .”
PRICING IT WRONG
MARKETING
LEGAL ISSUES
11 | FOR SALE BY OWNER
DOING IT ALONE
FOR SALE BY OWNER
For Sale By Owner , or FSBO , is the process of selling real estate without representation by a real estate agent . The primary reason owners choose to sell on their own is to avoid paying the real estate commission in an attempt to save money . However , there are many factors to weigh when considering selling FSBO v . hiring an agent . Will I price it right ? Who will prepare the documents ? Do I really have the time and patience for this ? Will I get in legal hot water ?
“ You need to know everything that must be done to close the sale properly and legally .”
Jessa Harden , HUFF Realty | SELLER ’ S GUIDE TO REAL ESTATE
PRICING IT WRONG
There ’ s the risk of selling your home for a lot less than it ’ s worth . Statistics have shown that the average FSBO home sells for about 25 % less than homes sold through a Realtor .
MARKETING
Your home will have less visibility . Only Realtors can list homes on the Multiple Listing Service , which is one of the biggest online tools real estate agents use . There ’ s a lot more to marketing a house than putting a sign in the yard , an ad in the paper and waiting . You need to develop a clear marketing plan that will attract the largest number of buyers .
LEGAL ISSUES
Preparing all of the legal forms , disclosures etc . is your responsibility , and if you ’ re unfamiliar you take the risk of financial and legal liability .