First Choice: To List with an Agent or Go It Alone
The upside of choosing FSBO is the financial benefit of not using a real estate agent. A real estate agent will receive a commission of 3%-6% of your home's final selling price. While the agent certainly deserves the commission for the hard work he or she put into selling your home, it is a pretty hefty chunk of change. On a home that sells for $200,000 the agent's commission will be somewhere between $6,000 and $12,000. That commission can cut deep into the equity you have built up in your home. Many people who choose FSBO do so because they simply do not want to pay the commission.
The downside of going solo and choosing FSBO is that you do not have access to the resources and experience of an agent. Once you make the decision to go FSBO, you become your own agent. It's up to you to sell your home. That means you have to market it aggressively - from setting its price, to getting it in front of potential buyers, to coordinating appointments and showing the home. All of those responsibilities can be a handful. One of the main reasons people do decide to list with an agent is the sheer volume of work it seems to take to get a home sold. That said, here are seven advantages of choosing to sell your home via the "For Sale by Owner" route.
7 Advantages of Going "FSBO: For Sale By Owner"
1. You Set the Schedule
When you list your home without an agent (FSBO) you set your own schedule. So, potential buyers will arrange with you to view the property at your convenience. Since youâ€™re the one showing the home, you can plan on having it ready when needed.
2. You Handle the Questions
You are on hand to answer questions and concerns from prospects. You can provide additional information to potential buyers. As the owner of the home, you are likely to have much more information on the property than an agent ever would. You can point out the selling points of the home, the neighborhood, the community, schools, etc.
3. You See Firsthand a Prospective Buyer's Interest
You will also have insight into how interested the prospect seems to be about buying your home, the level of seriousness, the timeframe, and other factors that could play into a sale.
4. You Get the Feedback Directly
If there are particular things that appeal to the buyer, or if there are deal-breaker issues, you will be there to hear them firsthand. This feedback can be invaluable, because it can give you clues on what to improve for future showings.
5. You Deal Directly
If an offer is made it can be discussed immediately and not through mediation with an agent. The seller and buyer are in constant contact with no middle man.
6. You Control the Process and Make the Decisions
In fact, you're in charge of all major decisions concerning the sale of your home. You choose where you want to advertise. How long you want to have your home on the market. You aren't bound by any contract with a real estate agent.
7. You Keep Your Money
The typical commission rate for an agent to show and sell your home is 3-6% of the selling price. But for sale by owner means you get to keep the profits. This also means you don't have to add any padding to the price to cover commission costs.
Making the Decision
If you are ready to list with us and want to find out more, then click here to go to our "List with Us" page. If you aren't ready to list with fsbotupelo.com, and you have a few more questions, then click here to go to our contact page and ask us directly. We will respond to your request and help you with any questions you might have.Â