- December 14, 2021
- Posted by: hellzpwince
- Category: FSBO
All the Ways FSBO Can Help Save You Money
Not all homeowners are comfortable letting someone else sell their home. Although it’s an industry practice to hire a real estate agent, it can be a financially draining endeavor. Additionally, the commission they’ll earn can put a dent in your overall earnings. This is why many homeowners prefer to look for alternative options. One option you can use is to sell as a For Sale by Owner (FSBO) to save on the real estate agent commissions which can be an upwards of 6% of the total sale pierce.
How Does a Sale by Owner (FSBO) Help My Sale?
A FSBO is a transaction directly between a homeowner and the home buyer that ensures a cheaper expense for the home selling process since there are typically no commissions usually paid to a real estate agent. However, sometimes, you may want to provide a commission to a buyers agent who will be representing the buyer in order to attract more prospective buyers to your property.
In this article, we’ll share three ways you can sell as a FSBO to minimize your expenses.
1. Spend on Less Marketing Expenses
As a FSBO, you will want to utilize a service that allows you to list and market your property onto a Multiple Listing Service (MLS). There are several different companies that will allow you to do this including FSBO.com and houzeo.com. This lets you pay less in the long term by not having to working with a listing agent, but you will still need to provide some commission to a buyers agent.
Then, once the property is on the MLS, it will automatically connect to different marketplaces that directly link to your listing. This allows you to have more extensive control of your property’s prospects.
2. Set the Right Price
No matter how well you market your property on the right platforms, you won’t receive an offer if you over price the property. This is why it’s vital to perform your research on the market and identify what your asking range should be. Since you won’t have to worry over a high commission cut from your real estate agent, you have more liberty to haggle the price with potential buyers. Use this to your advantage when entertaining offers from different home buyers.
3. Highlight Different Buyer Arrangements
While your buyers agent is not acting as a listing agent, you will be able to save on half of the commission. However, the buyer’s agent is still obligated to perform specific duties and as such, they will need to be compensated for bringing their buyer to your property. For this reason, you need to highlight your willingness to work with the buyer’s agents on your promotions.
Clearly, by going the FSBO route, you won’t require a full-time real estate agent to smoothen the home selling process. However, you’ll still need a capable real estate attorney to help you with legal procedures and processes. For this reason, it’s necessary to work with experts in the industry that put your interests first.
How Can We Help You?
If you are interested in selling as a For Sale By Owner, you’re in the right place. Get the legal assistance you need to sell your FSBO property. Saman Saba is a real estate attorney in Maryland working to empower real estate sellers and buyers so that they may make better and more informed decisions regarding one of their most important assets: their residential properties.
In an effort to help you successfully sell your property as a For Sale By Owner, we have prepared a FREE FSBO Success Packet which includes:
- A clear explanation of our flat-fee pricing model and exactly which services are included.
- A complimentary copy of Saman’s bestselling book, Sell Your Home With Confidence: Reduce Your Liability When Selling, FSBO EDITION which goes into depth regarding what steps a FSBO seller should take when selling their property.
- A complimentary viewing of a 30-minute Masterclass entitled, Home Equity Protection: How To Not Be Bamboozled When Selling which highlights the main ways that home sellers can leave thousands of dollars on the table when selling.
- And so much more!
Ready to get started? Click here to schedule a complimentary consultation.