How to Sell a House by Owner
If you plan to save money by selling your home yourself, you've come to the right place. This guide tells you how to sell a house by owner. You will also learn that there are other ways to save money without doing all the work yourself.
Should you choose to list your house for sale by owner (FSBO, pronounced “fizz-bo”)? Before deciding to sell your home without a real estate agent, there are four considerations.
Are You Willing to Deal With Buyers’ Real Estate Agents?
While you may not have an agent, many buyers do. And they expect you, the seller, to pay their sales commission, traditionally 3 percent of the sales price if an agent brings you a buyer. No commission to selling agents means a smaller pool of potential purchasers.
How Comfortable Are You with Sales and Marketing?
Selling a home is work. You'll need great photos or video, signage with your contact information, an online listing and/or property web page, and attractive, descriptive fliers.
Can You Stand Rude Comments About Your House?
Some buyers will hate your house or may put down your home to reduce the price. That's why professional agents have their sellers leave when buyers come in. Criticism can make you too emotional to negotiate properly.
Are You Willing to Screen Your Own Buyers?
Professional agents supervise home showings and make sure your personal items don’t walk out the door. They screen out those who can't get financing or who aren't serious about buying. Your first defense line requires potential buyers to provide a mortgage pre-approval letter or at least a pre-qualification letter.
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