FSBO - For Sale By Owner

FSBO - For Sale By Owner

There's More to Selling Your Home than a "For Sale" Sign In Your Front Yard: Beware.

For sale by owner (f.s.b.o.) can be a frustrating experience if you don't have the right for-sale-by-owner information on marketing, advertising, negotiating, selling and closing the transaction as a FSBO.

Dear www.champaignrose: We're planning to sell our house soon and are debating whether to list it with an agent (like yourself) or sell it ourselves. We're very tempted to go "For Sale By Owner" because we'd save over $12,000 in commissions. What's your advice about this?

Dear Moving On,

The "For Sale By Owner" route ("FSBO" in advertising lingo) is taken by plenty of home sellers these days. According to a survey by the National Association of Realtors, 13 percent of all homes were sold directly by their owners in 2008. The survey doesn't tell us, however, if those sellers were glad they did it.


For some insight into that I have ask some of our community members about their experiences in selling their homes themselves, and if they'd do it again. Here's a bit of what I've heard:

Absolutely. "I sold my home myself and would do it again in a heartbeat! I spent $15 on two "For Sale" signs and because I set the asking price in the same range as similar houses being sold, I got to keep the equivalent of the real estate agent fees (4 to 6 percent of sale price) for myself."
Roger


It depends. "I know from lots of personal experience that a slow housing market almost 100 percent requires a real estate agent, and even in some very strong markets it is very helpful to have one."
Travis


No way. "We tried selling our home ourselves a year ago in order to save money. We experienced three months of people never showing up for an appointment, showing up early and showing up late. For us, it was a pain - missed meals, changed plans, etc. We finally listed with Rose and it sold in 10 days."
Paul


Is FSBO right for you? It depends. What's the market like in your neighborhood? How quickly do you have to sell? Do you have the time and temperament to deal with hordes of prospective buyers tramping through your house? Balance all this out against the amount you would save by not paying a commission to Rose and you should have your answer.

Whether or not you choose to go it alone, use my quick and easy checklist of inexpensive ways to make buyers instantly attracted to your home. Email me and request my Home Sellers Special Report…44 Money-Making Tips For Preparing Your Home To Sell.

Selling your home is one of the most important financial transactions you will make in your life. Don't take risks. Selling your home is nothing like selling a car. Every home is different. How do your determine the real market value?

The great majority of all homes are sold using a Realtor. As a professional, it is my job to help you negotiate with all those buyers who want to offer you as little as possible for your home--not to mention preparing your home for sale, marketing it locally and even nationally, and guiding you through the complex paperwork and pitfalls of escrow and closing. Make sure you are really ready to handle all of that before pounding that sign into your front yard!


Remember: Buyers want to offer you as close to nothing as possible! While that "For Sale By Owner" sign might sound like a good idea, it usually means a different thing to buyers: "Try to steal this one!"

If you must sell your own home, at least let me give you a sense of its true market value. Tell me a bit about your home, and I'll do a quick Comparative Market Analysis and let you know what I feel it is worth. I'll also describe how I would market your property to get you the best possible price. This is free, with no strings attached. Really. Just fill out the form...

Expose my buyers and contacts to your home. Place a virtual tour of your home on my website. Email or call me for details.

Even if a simple sign in your yard did produce a buyer knocking on your door, how will you handle the following questions: 

"How does your home compare to others like it in Champaign and Urbana?" 

"How did you determine the fair market value of this property?" 

"What about financing? Can you help?" 

"If I make an offer, who will draw up the paperwork?" 

"Why aren't you using a Realtor? Is there something wrong with the property?" 

"Since you aren't using a Realtor, we can take their fee right off the top, right?" 

Selling your home is one of the most important financial transactions you will make in your life. Don't take risks. Selling your home is nothing like selling a car. Every home is different, and every homebuyer wants to offer you as little as possible. How do you determine the real market value? 

Almost all homes are sold using a Realtor. As a top real estate professional, it is my job to help you negotiate with all those buyers who want something for nothing. Not to mention preparing your home for sale, marketing it locally in Champaign and Urbana and even nationally, and guiding you through the complex paperwork and pitfalls of escrow and closing. Make sure you are really ready to handle all of that before pounding that sign into your front yard. Errors can be extremely costly. 

Remember: Buyers want to offer you as close to nothing as possible! While that "For Sale By Owner" sign might sound like a good idea, it usually means a different thing to buyers: "Try to steal this one." 

If you must sell your own home, at least let me give you a sense of its true market value. Tell me a bit about your home, and I'll do a quick Comparative Market Analysis and let you know what I feel it is worth. I'll also describe, as an experienced, top Champaign and Urbana Realtor, how I would market your property. This is free, with no strings attached.