FSBO refers to the method of selling a property without the help of a listing agent. Using this method , the seller can avoid paying for real estate agent commissions, can control the selling process, and could possibly sell faster. The downside is that the seller could potentially spend a large amount of time and effort when standing in for a listing agent.
This could be time consuming part if you plan to make renovations on the exterior and interior. This is one important factor if you plan to sell as it may affect how fast your property would sell. You could also consider having the house professionally staged and photographed for listing. Adequate prep work could increase the home’s value and potentially get you more buyer interest and a higher ROI.
You should make sure that you set your listing price right. One of the mistakes an owner could make when selling an FSBO is pricing their property way above or below the comparable properties in the area. It would be a good idea to get an appraiser to get the property’s most accurate value.
There are various means to market your property with or without spending cash. You could make use of free marketing sites like Craigslist, Zillow, Trulia, Facebook Marketplace, and others. You could also market by word of mouth by talking to friends and family about the sale of your house. On top of those free methods, you could also go for the more traditional marketing methods like paying for newspaper ads, putting up yard signs, and printing flyers. Whichever method you prefer to make use of, making sure your listing is visible to as many people as possible.
Compared to selling through a real estate agent where you just approve or reject offers, selling FSBO would involve more than a yea or a nay. Be prepared to schedule showing and show the house to prospective buyers. You would also have to go through the process of prescreening buyers and handling paper work for the sale.
