You’ve probably thought about going that the for sale by owner course, but wonder what you will overlook by avoiding the large commissions.
In the end, signing up using a routine commissioned real estate agent will require 6 percent, 7 percent, or even more right off the surface of your sales price. And, that means a good deal of money out of your pocket. So, lots of people are happy to go the “for sale by owner” path to get the maximum for their home.
Thus, let us consider what you might miss.
To begin with, if you don’t first talk with a few real estate brokers you might not understand what comparable homes have sold for in your region. Understanding what similar properties have sold for is essential to pricing your house to sell. Should you buy your home too high you might not be able to sell your home before you reduce the asking price and be more competitive.
Thus, before you choose to go the FSBO course, get some help from several realtors about establishing the right list price.
Secondly, as you might have a sign in your front lawn indicating your home is For Sale By Owner, just people who push down your road is going to understand your sign. You may have taken additional actions to expose your home to prospective buyers. One of the most effective ways to do so is via your “Multiple Listing Service” or MLS. Here is the database all of the real estate brokers in your town use to reveal properties. Most MLS databases are searchable by the Internet.