FSBO (pronounced fizz-bo), or For Sale By Owner, is a way of selling your home without the use of a professional real estate agent or broker. The idea behind FSBO is that by selling your home yourself, you save the approximate 6% that would be the agents’ commission. We have all heard of someone who sold their own home, got exactly what they were asking, and closed the house without a hitch.
But before you run off and decide to sell your home FSBO, you must remember that to get a savings like that, there must be a cost. So what’s the catch? Selling your home yourself is harder; a lot harder.
Only about 10% of sellers that decide to go FSBO are successful at it. And not all of them end up saving themselves money. FSBO sellers often end up accepting a lower price for their home than they would with an agent. Buyers know that since you are selling it yourself, you are not paying realtor commissions, and so they expect to save that money also.
There are of course other issues as well.
Selling with a professional Realtor has advantages.
So before you decide to sell your home yourself, thoughtfully consider just how much time and effort you can spare for selling your home, as well as how important it is that your home sell sooner, rather than later.