Real estate brokers like to make it sound impossible to sell your home on your own. The truth, however, is that proper homework and ingenuity allow you to make the deal without having to go through a third party. This can save you up to a 10% commission paid to the selling agent. For Sale By Owner property (often abbreviated as FSBO), is that marketed, bought and sold without the representation of any real estate broker. According to a press release by the National Association of Realtors, 12-13% of homes sold in the United States took place via FSBO.
Some people who go the For Sale By Owner route choose to work partially with a broker to use a Multiple Listing Service, but do not use the broker beyond this. This may be one of the fastest growing parts of the real estate industry. Normally, a real estate broker handles the marketing aspect of selling the home, as well as much of the paperwork. FSBO sellers have to manage this themselves. There are a wide array of ways to get enough exposure to sell a property.
In some parts of the country, a hot real estate market allows FSBO sellers to merely but a For Sale By Owner sign and put it prominently in front of the house. In other areas, more marketing is needed, but a sign is still useful. Signs placed at intersections to tell prospective buyers where your house is located can also help.
Classified ads are the next step for many FSBO sellers. They are not expensive and provide a lot of exposure. A short ad repeated several times over a period of time will be more effective than a single long ad run infrequently. Exposure is key in classified ads.
If you work or frequently attend a place where there are public bulletin boards, flyers can be helpful. You can create a single page poster with photos of your house, a description and contact information. Tear off strips at the bottom with a phone number printed on them are very common tools for marketing flyers. Digital cameras can be helpful in taking good photos.
Other good resources for marketing your FSBO home are brochures in front of the house or at work. Some stores and public buildings will also allow you to place brochures. You should also keep a supply of brochures at your home to give to prospective buyers.
The Internet is an excellent marketing tool. There are a number of FSBO sites which list properties for sale. They can include photos and other information. FSBOmarketing.com or a site found through your preferred search engine can help to market a For Sale By Owner home. Many sites offer this service for a very limited fee. With good marketing, you can sell your house without the intervention of a real estate broker and save the hefty associated fee.
