When the general economy starts to go down, people start looking for ways to cut corners and save as much money as possible. One way people are doing this is to sell their house themselves. For Sale by Owner, or FSBO for short, has become a viable option for people that are looking to sell their home in today’s economy.
With all of the tools online people are feeling like they can sell their home themselves without needing a real estate agent. Many website have realized this and popped up to offer help to people that are trying to sell their home by themselves so they can hopefully avoid the pitfalls.
Another time that the FSBO method is very popular is when someone is not able to afford the 6% commission that comes with selling through a real estate agent. If the home is at or below the price you need to make in order to pay off the loan you may not be able to afford any extra out of pocket expenses.
The FSBO way is often the step that many homeowners take first on their road to selling their house. Keeping this in mind you will find many sites that offer low rates to help this segment of the market before the homeowner decides to go the traditional way of using a real estate agent. Many sites that offer FSBO will include some, or all, of the following features.
Basic listing features including a link for a virtual tour
- A template for a printable flyer
- Workbooks to assist the homeowner in their research of what they need to know and what they need to do prior to attempting a sale.
- Listings that compare to the listings of a real estate agency site
- Offering a flat fee for listing the home as long as needed, without additional weekly or monthly add-ons
- Pricing reports to help you value your home appropriately
- Typical yard signs much like those used by real estate agents
- No limit on the number of pictures on your listing
- Access to a free consultation line for questions
With all of these services it is no wonder that these types of sites are quickly becoming the first call people are making when they start the process of selling their home. You have a better chance of selling your FSBO home if you are able to be patient and by doing some research on their own.
The key to success is centered on the reason the homeowner wishes to sell their house. If they simply need to upsize for a new addition to the family, to downsize after the kids have gone to college, to change locations closer to or further away from the city, or just for a general change of scenery, patience can be the key.
However if you are moving because you are changing employment, marriage, divorce, or any number of other reasons the move may have to be more immediate. In the past companies that wanted to hire a worker would pay for the house and the expenses from relocating. Due to the sagging economy this has become a lot less popular because companies are trying to save money and quality people are looking for a job everywhere.
FSBO is a viable way to get the home out into the spotlight and into the market without the fees from realtors. Then if FSBO doesn’t work out, the homeowner has the option to sign up with a qualified real estate agency to sell the house and continue where the FSBO support ended. Your decision on how to sell your house, is entirely dependent on your situation.