For Sale by Owner (FSBO) is the process of selling your home without using the representation of a real estate agent. With more and more websites and other marketing companies catering to homeowners looking to sell their home on their own, FSBO has seen an increase in popularity over the last few years. Many people who are interested in FSBO do so to avoid having to pay commission to a real estate agent. While this savings may be substantial in Ventura County, homeowners should be fully aware of what trying to sell their home FSBO will mean. If you are considering a FSBO on your home, call Dream Home Property Solutions, LLC now at 805-250-8335.
Pros of For Sale By Owner
As mentioned above, the number one reason most homeowners have for selling their home FSBO is for the commission savings. Depending on the area you live in and the condition of your home, saving on realtor commissions can be a nice hunk of change back in your pocket. If your area is in the middle of a sellers’ market, attempting a FSBO may be very easy as the demand for homes will be larger than the supply. Websites such as Zillow and Redfin let homeowners view certain market data that can be used in determining how to price their home. Also, with the advent of websites such as forsalebyowner.com, homeowners are able to give their homes exposure that may not have been possible 10 or 15 years ago. Finally, some say that homeowners know their homes better than anyone and the pride that they have in their own home helps reaches buyers on a more personal level.
Cons of For Sale By Owner
Although a FSBO is a way to potentially save yourself tens of thousands of dollars, there are definitely advantages of choosing to sell with a real estate agent. Homeowners may be able to find market data online, but they may not have the detailed insight into the different neighborhoods and why a certain home may have sold for the price that it did. Realtors have marketing experience and contact with other realtors that most times reach beyond the marketing exposure that homeowners can generate on their own, even with the help of FSBO websites. They also can look at your home objectively and can suggest minor repairs, upgrades, or staging ideas that can help increase the sale price of your home. Finally, realtors can do all of the “busy work” that it takes to sell a home, such as open houses, buyer viewings, contract negotiations, and counter-offers. All of these things can mean the difference between your house sitting on the market forever or not selling at all and being sold quickly and for the highest possible value.
For Sale By Owner Assistance
While For Sale By Owner works and may be a viable solution for some homeowners, the process itself is not as easy as it sounds. By listing your home through an experienced real estate agent, you can potentially sell your home for a higher price that more than covers the amount you would have saved on commission. If you have questions or would like free advice about your particular situation, call us today at 805-250-8335 to find out more about our residential real estate services.