What is FSBO?

how for sale by owner sold sign

What is FSBO or “For Sale By Owner”?

FSBO or “for sale by owner“. Is commonly referred to as when someone sells real estate privately, or in other words,” without an agent”.

Homeowners may employ the services of marketing or online listing companies or market their own property. Typically, they represent themselves with the help of a lawyer or solicitor throughout the sale. As in most areas, there are detailed legal requirements pertaining to sellers and disclosures they must make.

FSBO for sale sign

How to Sell My House FSBO?

Selling your house FSBO can be extremely rewarding and convenient when done right. Read: “Top FSBO Sites What They Are And How To Do It: Everything You Need To Know”.

Our Property Team guides home homeowners during this experience. Making it both easier and rewarding for the seller. While selling faster and for more. Because at the end of the day, you wouldn’t want to leave any money floating in the air either. To learn the step by step on how you sell your house  FSBO read… “How to sell a house by owner in 2022“.

Why Sell FSBO?

There are many reasons why anyone would want to choose the FSBO or “For Sale By Owner” route. The most important or common reasons are… Save money, have more control over the sale, and cut the middle man. 

Want to learn more about the benefits of selling FSBO. And how to do it without leaving any money floating in the air? read…  Why Selling Your Home FSBO is The Greatest Option

What is a CMA report for real estate?

It stands for “Comparative Market Analysis”. It is the most basic estimate of a home’s value based on recently sold, and similar properties in the immediate area. It is mostly used and conducted by both real estate agents and brokers. It can give you a very basic understanding of what your property may be worth in the market. However, we do not recommend this option since they are rather inaccurate and should not be taken too seriously. To learn more about valuations and appraisals read: “All you need to know about home valuations and appraisals

Pros of selling FSBO

1. Savings.

saved money when you sell your home with our property team

Firstly, most Real Estate agents charge between 6-8% commission when selling a property. And let’s be honest, that ads up really quick, Right?

For example. If your home is worth $500,000 you are looking at spending somewhere between $30,000 and $40,000. that is A LOT! 

And it is not always necessarily split between two agents. Since more often than not, you are agreeing to pay this money to the listing agent. Regardless of whether there is a buyer’s agent or not. This means you could be legally obligated to pay your realtor the whole amount. Even if the buyer comes without an agent.

2. Control

Secondly. When selling FSBO or “For Sale By Owner. You take complete charge and can do absolutely everything on your own terms. 

In fact. Nowadays, there are websites like ourpropertyteam.com. That will guide you through every step of the process. And provide you with all the necessary tools to sell your home like the pros. 

So you can sell faster and for more while making it very very easy as well nevertheless.

3. Cut the middle man

Many people find dealing with real estate agents nowadays both inconvenient and unnecessary. Especially in this era, where we can and do mostly everything from our smartphones. By skipping the middle man, you can not just save thousands of dollars in unnecessary realtor commissions. But directing the whole transaction can be a lot easier.  Think about it this way, without a middle man, there is one less person in the transaction. Making it both more efficient and convenient for the seller.

Cons of selling FSBO

A lot of paperwork/information

Real estate appraisal document 2022

Going FSBO or For Sale By Owner is great when you know what you are doing. Or when you have the right tools to do so. 

READ “How To Sell A House By Owner“. What do I mean by this? well, there are several aspects involved in selling a piece of real estate successfully.

You want to sell fast, for top dollar, and without any complications or difficulties at all, right?

Thankfully, we now have sites like “ourpropertyteam.com“. That helps us with everything we could possibly need without charging commissions, so you can pay that money to yourself!

Is FSBO hard?

Selling real estate FSBO is very easy and can be very rewarding for the property owner. 

There are many websites nowadays like Our Property Team. That allows homeowners to sell their properties privately (without a realtor). For a small flat fee compared to the traditional agent. These companies offer homeowners the necessary tools in order to sell real estate like the professionals do minus the commissions. 

How FSBO Works

There is not a “one size fits all” type of answer for this question. Especially since every house has different needs and laws can vary so much from one state to another.

However, here is a list of things you should never miss when selling your house FSBO.

  • Home Value – This one is very important since it is where usually most people selling FSBO lose money. There are a variety of free tools online you can use like this one “Home Valuation Tool“. However, use these tools ONLY to give you an idea, but never to determine the final price of your listing
  • Exposure – Portraying your home right is incredibly important and often overlooked by most FSBOS. Since they think “Phone pictures are enough” Even though there are several studies that show that without a doubt. Professionally photographed homes sell a lot faster and for about $15,000.oo more 
  • Marketing. – This goes from listing your home on the top real estate websites. To social media marketing, yard signs, flyers, newspaper ads, radio ads, door hangers, etc…
  • Showings – You will need to schedule and be in charge of showings, once again… Don’t worry, we got you!
  • Closing. – Laws vary so much from state to state that I could possibly not go through all of them in just one post. But luckily for you, this can be dealt with by our in-house attorneys at no extra cost.
happy couple next to their house sold sign FSBO

In conclusion.

After all. FSBO is becoming more and more popular by the day thanks to websites like ourpropertyteam.com. Where we use technology to make this process very easy and rewarding for you. Going completely alone might get the job done. But… are you sure you are getting the most out of it? Contact us today to learn more. Or read our blog, where we have a ton of information that will help you.

Join The Discussion

Compare listings

Compare