There are some home owners who choose to sell without the services of a seller’s agent. The real estate industry calls these types of sellers, ‘For Sale by Owner’ or FSBO. If you are in the FSBO category, then you may find the information below useful.
For some FSBO, you can save a lot of money by not using a Real Estate agent. But you should examine this issue carefully as this decision is more complex than it appears. Below are some of the issues that seller’s should consider before making a decision about selling their own without the services of an agent.
Some background information is necessary at this point. In most real estate transactions, there are two agents involved: a seller’s agent and a buyer’s agent. While not always the case, most often, the seller pays the commission of both agents. A seller who is selling their home without the services of an agent to represent them, usually still has to pay the buyer’s agent who brings a qualified buyer to the seller. So in this sense, a FSBO is only saving half of the commission they would otherwise pay.
With this background in mind, let’s consider some of the services that many seller’s agents provide:
1.Hold Open Houses to show your home to prospective buyers. 2.Mail out catchy postcards and flyers to prospective buyers and other agents to advertise your property. 3.Place newspaper advertisements about your property. 4.Install an eye-catching sign in your yard advertising that your property is for sale. 5.Advertise your home in the MLS and other Internet Web sites. 6.Respond to inquires about your property in a timely manner. 7.Respond to questions from agents and prospective home buyers about your property. 8.Review and summarize the advantages and disadvantages of any offers on your property. 9.Prepare and distrubute required seller disclosure documents on your behalf. 10. Be your guide throughout the home selling process.
There are many other services that seller’s agents can provide. The list above is just a sample. All these services take time, money and/or expertise. If you choose to sell your home on your own, keep in mind that there are many tasks that have to be completed. And when the market slows down, the above tasks may have to be repeated many times until you find a buyer for your home.
