For Sale By Owner

A For Sale By Owner (FSBO), pronounced fizz-bow, is where a property is sold by a homeowner without the use of a real estate agent. Many people choose to sell their own home like this to avoid paying agent fees that can run up to 6% of the purchase price.

There are more responsibilities on behalf of the homeowner who is putting up their property for sale by owner, the biggest considerations can be found below.

First time FSBO

Selling a home as a FSBO for the first time is not usually straight forward as most would like. Inexperience can lead to a great deal of lost time and money if mistakes are made in pricing, marketing or in the legal paperwork that is required.
However, it can be very rewarding so I always recommend seeking out someone who has been through it before you.

Objective Presentation

For any property to sell successfully it must be presented well and in comparison objectively to home in the same buyers appeal bracket. The misconception arrises when a FSBO presents their house ‘how they like it’ and this may not appeal to buyers.

Marketing

The kicker… as no one will buy your property if they don’t even know it is for sale. If you can not get a listing in the right networks your prospective buyers will never know it is on the market.

Expert Insights

Selling a your own home as a FSBO can be a financial winfall, if you can present, price and market your home correctly. However, you still may want to get expert advice on contracts and the legal aspects of the sale. You can typically consult with a FSBO agent for a flat fee to simply facilitate the sales transaction to ensure it is conducted properly and in accordance with the law. This is what I did.