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Pro's and Con's of Listing a Home FSBO

Home » Real Estate » For Sale by Owner vs. Hiring a Realtor » Pro's and Con's of Listing a Home FSBO

Selling a home is a large task whether a broker is hired or the home owner lists it FSBO. There are many different facets that are involved in selling a home. When deciding which option is right for the sell of their home, potential sellers should weight all the pro’s and con’s of each option. Listed below are some of the pros and con’s associated with selling a home FSBO:

Pros
• No 7% broker fee paid to the real estate agent, which means the home owner makes more of a profit.
• Freedom of when house is shown to potential buyers.
• No “middle man”. The seller is able to directly communicate with the potential buyers which often times can make the house seem more like a home.
• A chance to really sell the home and show it off each time it is shown to potential buyers. Home owners know the history behind certain things about the home which can entice potential buyers.

Cons

• Studying and researching what goes into selling a home the right way.
• Researching other homes in the area that have sold recently in order to establish a fair market selling price.
• Being responsible for all the leg work such as open houses, showing the house, advertising, negotiation, and closing details.
• Having to be responsible for understanding disclosure forms and other legal documents to ensure you are correctly following all necessary steps in selling a home as well as protecting yourself from a potential lawsuit brought against you in the future by the buyer because the selling was handled incorrectly.
• Having to be the one to contact the mortgage brokers, inspectors, and appraisers to ensure everything is in line for closing.
• The risk of deals falling through due to an overlooked detail because there is a lack of knowledge.

Next Page: Things to Keep in Mind if selling a home FSBO

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