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| 1. You'll save money.
Real estate agents typically charge a commission equal to 5-6% of the sales price of your home, which is usually split evenly between the listing agent and the buyer's agent. That comes to $30,000-$36,000 for a $600,000 home. By eliminating the listing agent, you can save thousands of dollars. If you find your own buyer, you can save even more. 2. Selling FSBO puts you in charge of marketing. Ever notice that ads for $8 trinkets on eBay often have better photos and descriptions than ads for $800,000 homes on Realtor.comŽ? Or that flyer boxes on traditional real estate signs are often empty? By taking charge of your home's marketing, you can make sure it's done right. 3. A study recently found that FSBO homes sell for roughly the same price as agent-listed homes. Economists at Northwestern University found no statistically significant difference between the prices paid for FSBO homes and those paid for homes sold by traditional agents. 4. You can get help with the negotiations and paperwork. FSBO sellers can get full-service representation from a licensed broker for just $3,400*--payable only if the deal closes. 5. FSBO homes can get listed on the Multiple Listing Service (MLS) and Realtor.comŽ. You can get your home listed for up to six months on the MLS, Realtor.comŽ, and other websites for a flat fee of just $250. If you offer an attractive cooperating broker's commission to buyers' agents, they'll be happy to show your home to their clients. 6. Selling FSBO gives you more options. Once you've signed a contract with a listing agent, your options become severely limited. It may be difficult for you to switch agents, or rent out your home, or take it off the market. If you find a buyer on your own, your listing agent will likely pocket the buyer's agent's commission. 7. Homes sometimes sell quickly. Even if you plan to list with an agent, it can't hurt to try selling FSBO for a few weeks. Buyer interest is often most intense when a house is new on the market. Many homes sell quickly. 8. Selling FSBO means you pay only for the services you want. This lets you focus your marketing dollars on those services that will give you the most bang for your buck.
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The Agent Challenge Here's how much it costs to replace many
of the services provided by listing agents: |
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MLS Listing* Comparative Market Analysis* Combination lockbox Basic marketing package** (shown below) FSBONapa.com web page Broker representation* *** Total |
$250 |
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*This service is offered by
ChalkboardRealty.com. **Includes 6 professional photos of your home, custom flyer design, 100 color flyers, a CD of your flyer so you can print more as needed, six-month rental of signage (a yardarm with a steel sign, two custom riders, two pre-printed riders and brochure box, installed, plus four A-frame open house signs and two directional signs with open house riders), and 100 copies of How to Buy a "For Sale by Owner" Home. ***Includes full-service broker representation from contract to close of escrow. The fee is payable only if escrow successfully closes, and applies only to FSBO sellers who have received offers from buyers who are represented by licensed agents. Add $2,500 for representation of the buyer as well. This rate is for homes valued at $1,000,000 or less. Before signing with a traditional real estate brokerage, list any additional services that would be provided beyond those listed above. Now ask yourself how much more you'd have to pay to get these additional services. Compare the extra services with the extra cost. Are they worth it? If not, you should sell FSBO!
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