The Advantages of For Sale by Owner

In these difficult financial times, it can be a frustrating task to sell your home. If you are looking to move into a bigger home, or if life has you moving to a new town, then you will want to sell your home as fast as possible to be sure that you are not burdened with two mortgages when you purchase your new home. One of the things that helps sell a home fast is to have a low asking price, but still retain the value in the home you need to pay off the existing mortgage. One of the ways to help keep your selling cost down is to use the process of for sale by owner, or FSBO, to sell your home. When you use FSBO you are not adding the cost of a realtor’s commission to your selling price, and you are also able to get what you feel is a fair price for your house and not what someone else thinks they can get for it.

For Sale by Owner

In the very early days of FSBO, the homeowner was at a distinct disadvantage. Realtors had developed effective networks and processes for selling homes, but in the days prior to the internet there were no cost effective ways for an owner to sell their home on their own. Today there are companies that specialize in helping homeowners put together an effective marketing plan to quickly sell their home. These companies offer international exposure on several websites, and they also put out print catalogs that are distributed over the region that your home is located in. Now homeowners can get just as much marketing support and exposure as a realtor network, and it only costs them one flat-fee which is insignificant compared to the percentage a realtor would take.

When you sell your home using FSBO, you get to make the open house schedule and you also get to insure that the people that are looking at your home get the chance to hear all of the facts that may help them to make a decision. With a realtor you are stuck having open houses on their schedule, and a realtor does not know your home like you do so they tend to leave out information when they are talking to a customer. When you sell FSBO you also know what all of the terms of the sale are while the process is taking place. With a realtor, you may be backed into promises you do not want to keep and know that you cannot come through on. You have complete control over the process, and you know all of the details as they are happening.

Using FSBO allows you to experiment with different tactics to try and sell your home. If you want to change the wallpaper in a particular room to something more neutral, then you can do so without having to clear it with a realtor first. With FSBO you have complete control, and you can make your sale happen any way you want to.

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2 Comments

  1. Posted March 21, 2011 at 2:42 am |

    Nice posting. These tips are really tremendous to sale our home. I think it would be effective for all.Thank you for sharing with us. keep it up.

  2. Posted March 25, 2011 at 1:13 pm |

    You are absolutely right. In the old days, the MLS was a book only the realtors had access to. Today, the MLS is the internet. People don’t need a realtor to find a home, just an internet connection and a warm cup of coffee. In today’s market, sellers need to exercise some patience. Doesn’t matter if you sell FSBO or with a realtor, it takes time to sell a home. I know in Iowa, the average home sits on the market 90 days or more before selling. Great post!