Whenever youre considering selling your home without a Realtor, you should look at the current state of the real estate market and use every opportunity available to make the job simpler.
What is a FSBO?
FSBO, short for For Sale By Owner, is the process of a homeowner selling their home without a real estate agent. This concept is not new, in fact, people have been selling their own homes for many years. With advancements in technology and the internet, it is new easier than ever to sell your own home.
State of the Real Estate Market
Slow real estate markets, also called buyers markets, occur when home inventory is high and the number of buyers is low. Sellers see the real estate commission as an expense that they can live without. In a time where every dollar could make or break a sale, sellers are opting to sell on their own.
When real estate markets are hot it is typically referred to as a sellers market. In a sellers market, home inventories are low but the number of buyers remain high. This generally occurs in markets where new construction can’t keep up with population growth. Sellers can sell their homes quickly, usually for a premium. Many see no reason to pay a commission, when the agent did little to sell the home.
Internet Marketing
There are hundreds of internet websites that will allow you to post your real estate for sale listing. Homeowners can even post virtual tours of homes on sites like YouTube. Sellers have more options than ever to promote their homes for sale. Many sites let post your listing for free. Others, particularly niche websites, charge a fee of around $30 a listing but put your home in front of a targeted buyer.
Closing Remarks
When deciding if you should sell on your home by yourself, there are a few things you need to take under consideration. You will need to be capable of doing the paperwork and handling the negotiations. If you feel you can’t, maybe you should consider using a flat fee brokerage firm. These brokers will partner with you to sell your home for a flat fee, with you doing part of the work. The flat fees paid to these brokers are usually a lot less than a full service commission.