If you are considering listing your home for sale by owner, there are a few things you need to think about before you do.
For Sale By Owner (FSBO) means you list your house on your own, rather than hiring a real estate agent to do the job. Selling your home yourself is a great way to cut out the middle man, an agent, and avoid forking over up to 6% of your profit for agent commissions. Unfortunately, selling your own home isn’t as easy as it seems. Before you list your home yourself, it’s important to weigh out the pros and cons.
Continue reading below for more.
Pros of For Sale By Owner Listings
Lower Commissions Paid Out — Arguably the most common reason people choose to list their home FSBO is the exciting potential of saving thousands of dollars in paying commissions. As previously mentioned, you can generally expect to pay 6% in agent fees — half goes to your agent and the other half to the buyer’s. But when your home is FSBO, you are only responsible for the buyer’s agent, if they have one.
You Are in Control — When you sell your own house, you are in complete control. You set the schedule of private showings and open houses. You decide what improvements to make to your home. Lastly, you 100% control the listing price. If being in control is important to you, FSBO may be the right choice for you.
Insider Knowledge — Another good thing you have going for you if you sell your home yourself is that you know your house better than anyone else, including an agent. As potential buyers walk through your home, you can answer their questions and fill them in on what it’s like to live in your house and neighborhood.
Cons of For Sale By Owner Listings
Lack of Market Knowledge — It is the agent’s job to understand the market and how to work it in your favor. You are paying an agent to access their knowledge and insider tips and tricks. A skilled agent will have a plan for marketing and listing price and where to go if there is little interest. They know the ins and outs of selling a home, whereas you probably don’t have the same skill set.
Fewer Marketing Channels — An agent has access to major home listing sites. Unfortunately, FSBO houses do not have access to the same marketing channels. You are limited to local classified sites, social media platforms, yard signs, and word of mouth.
Focused on Other Things — Unless you’ve made selling your house your full-time job, you’re probably focused on other things as well, such as your job, your family, your hobbies, and maybe even finding a new house, whereas an agent is paid to focus on selling your home.
Contact Texas Sell Now
If you don’t want to hire an agent, nor do you want to list your house for sale by owner, you still have options. Sell your Dallas or Fort Worth home to Texas Sell Now and avoid the headaches and hassles of traditional or FSBO listings. We want to pay you cash for your house in its current condition — no cleaning, no repairs or remodels, nothing! Contact us for your fair all-cash offer today.