The obvious reason to list your home as a "For Sale by Owner" home is financial in nature. A real estate agent may be more interested in their own commission than getting you a higher price. They know the best way to do that is to sell your home quickly instead of waiting for a better offer or "the right type of deal." For this and other reasons, home sellers are choosing the FSBO method instead. Is this the right move for you? Let's look at the advantages and disadvantages of doing it.
The current ease and efficiency of doing this is an important advantage. FSBOs have more tools available to them now than ever in the past. A few years ago they would have needed to post their own signs, purchase advertising space in local publications and have at least one open house. However these days there are quite a few online websites that make this much easier and more efficient. These sites can be accessed by going to your favorite search engine and typing in FSBO. It will take you directly a description of each website and often include customer reviews. You might even be able to take your own photographs and upload them yourself and / or write your own listing.
Let us not forget the FSBO advantage of being able to locally advertise your home yourself. There are the "old-fashioned ways" like creating brochures and flyers. These days modern technology can improve these methods too. For example take pictures of your home and yard with a digital camera and upload them onto your computer. You can then use these images on your flyers and brochures to really WOW people who come by to take one of those. There is still the word of mouth method of advertising. Similar in nature to business networking, word of mouth allows you to sell your home through a group of people you come to know. Nowadays there are specific networking groups and events designed for exactly this purpose.
There are also advantages to the buyer for considering FSBO homes. An example would be that the buyer could receive a significantly better price for the home than if a real estate agent was involved. This is primarily due to the savings the owner gets from not having to pay a commission to an agent, or pay for high professional advertising costs. The seller can then afford to pass that savings onto the buyer. Then everybody wins!
One last advantage we will discuss here is the ability for the seller and the buyer to communicate with each other directly. When you go through a real estate agent; if you have questions, you usually have to wait for your agent to ask the other person and relay their response to you. With an FSBO there is far less waiting that occurs. Through the invention of emails and text messages you can usually contact each other immediately and easily and with relatively little monetary costs involved.
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