Pricing and Costs of For Sale By Owner (FSBO)
Weighing your listing options on property for sale by ownerWhether it's a home or commercial property for sale by owner, you can save thousands of dollars by selling it yourself because you can forgo the commission paid to a real estate agent or broker. However, you'll be doing most of the work yourself and time is money also.
Exposure for your business FSBO is the key to a fast and profitable sale. The best way to do this is to post an ad or listing with a reputable multiple listing service (MLS) site or sites specifically designed for FBSO listings.
Consider the following information on pricing and costs of for sale by owner (FSBO):
1. Realtors and brokers typically charge 6% for commission on your property sale. By going the business for sale by owner route, all that money stays right in your pocket.
2. A hidden cost to commercial properties for sale by owner may be the need to consult with an attorney on negotiating a price with a potential buyer and making sure the appropriate paperwork is handled properly.
3. When selling your home yourself, you may want to consider other exposure options besides Internet listings such as lawn signs or placing an ad in a local newspaper.
Post FSBO listings for a flat fee
Consider a monthly contract rate for a FSBO listingInstead of a flat fee, some listing Web sites will allow you to be billed monthly. This might be helpful if you only want to test the waters for a short time or if you think your property may sell quickly.
Register your property FSBO for freeFree? Seem too good to be true? What have you got to lose? Well, you could lose out on service, quality and experience more competition when it comes to attracting a buyer. However, FBSO listing sites that offer free postings still offer exposure. If you don't get the response you're looking for, you can always go with the monthly or flat fee option.
- Just as when working with a Realtor, a buyer has the right to request an inspection on homes for sale by owner. Be prepared to make any required repairs or the buyer may cancel the offer.
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