For Sale By Owner is one of the fastest growing segments of the real estate industry. Also abbreviated as FSBO, this refers to the practice of selling a property without the intervention of a broker. Some FSBO sellers use the limited services of a real estate broker to list their homes on a Multiple Listing Service. With the right research and marketing efforts, you can sell your FSBO home and avoid costly broker fees. These real estate broker fees can range from 5% to 10% of the final price of the home. The FSBO sale allows the homeowner more control over the sales and marketing process and attracts buyers who might not be attracted to ordinary real estate listings. Because FSBO sellers are often willing to make arrangements with a buyer, such as a rent-to-own situation, buyers can negotiate directly with the owner. Sale by owner The sale represented 12-13% of the properties sold in 2005 and 2006.
Marketing your FSBO property is an important part of the sales process. Buyers can’t come to see your house if they don’t know it’s there. The simplest and least expensive method is the yard sign. In areas with active real estate markets, a yard sign may be enough to attract buyers to your door. Even in slower markets, signs can attract interested people to your immediate area.
Next up from the yard sign is the classified ad. This is still inexpensive and allows you to easily reach large numbers of people. Many potential clients read the local newspapers every week. A short ad that runs multiple times will reach more people than a long ad that runs only a few times. You can also advertise open houses and other similar events with a classified ad.
Brochures and bulletin board ads are other great ways to make your home stand out. With the help of a camera and a computer, you can produce advertisements about your FSBO sale. Many public buildings and workplaces will allow these ads to be posted. You can also make the brochures available in a container attached to your yard sign. Be sure to have some at home so visitors can remember important information about the home they’ve come to see. Homebuyers see a lot of houses in a day, so having a brochure could be the thing that gets your FSBO property sticking in their minds and eventually selling.
Another great way to market your property for sale by owner is through FSBO sites on the Internet. These sites allow you to post details and photos of your home, including the dates of open houses and other events. A site like FSBOmarketing.com or one found through a search engine can help you reach a wide range of browsers. Many people in the real estate market now start their home search online with a FSBO site. For a small fee, these websites can improve your exposure dramatically. If you’re comfortable with the sales and negotiation processes, there’s no reason why you should pay a real estate agent to do things you could very well accomplish on your own. Hot real estate markets can make real estate agents almost irrelevant.