Is “For Sale by Owner” Right for You?

Is “For Sale by Owner” Right for You?

For many sellers, their REALTOR’s commission is a small price for making the home sale process go smoothly. For others, it’s enough to make them seriously consider selling their home themselves. Here are some of the jobs that a REALTOR does for a seller.

Ask yourself if you’re ready to take on these jobs: The answers can help you decide if “For Sale by Owner” or FSBO is right for you!

1. Pricing. You’ll need to find a list of 3-4 comparable homes that have recently sold in your community and be able to judge if those homes have similar features, size, and properties to yours. If you can’t find enough homes in your area, you’ll have to choose a comparable area and look there, too.

2. Paperwork. Will you be able to comfortably navigate the forms, laws, and requirements of selling your own home? You may want to hire a real estate lawyer if you’re unsure.

3. Free time. Do you have the time to research your asking price, market your home, and stay available for questions and requests via phone, email, and text?

4. Marketing. Are you feeling confident that you can effectively market your home? You’ll have to navigate FSBO websites, their fees and kits you can purchase for signs and MLS access.

5. Technology. Are you comfortable online? You’ll have to list your home online to generate interest, and that means editing and uploading photos, adding descriptions, and fielding email inquiries.  You’ll also need a way to promote the information so people can find your listing.

6. Temperament. Do you have the patience and detachment to endure criticism, questions, and repetitive showings of your own home? You’ll have to handle contingency requests and price negotiations with the buyers or their agents, too.

7. Finances. Are you willing to pay the buyer’s agent commission? Will you need a Real Estate lawyer to draw up contracts and closing documents? Not all the expenses of selling a home are in the Seller’s agent’s commission!

8. Organization. Are you organized and able to schedule multiple showings, inspections, manage contingency deadlines, and organize closing materials and schedules?

Are you wondering if FSBO is the right sales option for you? Contact The Columbus Team today, and we’ll be happy to walk you through the services we offer and you may decide there are things you’d rather NOT do yourself!