Selling your home as FSBO means you will have to do what we Realtors do. However, this might require some extra work on your part, and you might encounter some difficulties.
If you’re thinking of selling your home by yourself, what should you expect from the home sale process? What do you do when selling a home as FSBO?
First, you do what we Realtors do—market your property well by staging it and taking professional photos. After that, you need to list your home online, because that is where the buyers are. Unfortunately, though, if you’re not listing with a professional Realtor, you won’t be able to list your home on the MLS, Realtor.ca, or Real Estate Weekly—the top three areas we generate our buyer clients from. Those are Realtor-owned, so you won’t be able to access them selling by yourself.
This means you’ll have to look for FSBO websites to list on, though this is a slightly reduced market. I’ve never been on these sites, but I am guessing that the typical buyer who browses them is a savvy investor looking to score a great deal from an inexperienced seller. If one of these buyers makes an offer on your home, negotiations will likely be difficult because they know that, as an FSBO seller, you’re trying to save on commission costs.
The paperwork involved when selling on your own isn’t difficult if you have a lawyer work on it on your behalf. Pricing your home correctly might be a little difficult, though, since you don’t have a Realtor with MLS access to compare your home to other listed properties.
The really difficult part of selling your home on your own is the time it takes. If a buyer asks to see your home at 10 a.m. tomorrow and you work full-time, how will you be able to make that happen? You can take time off from work, perhaps, but if you schedule that showing and the buyer doesn’t show up, will it upset you?
Dealing with the consumer by yourself requires extra work on your part, so these are just a few things you must consider if you’re thinking of going the FSBO route.
If you have any more questions about this or any other real estate topic, please feel free to call or email me anytime. I would be happy to help you.