Advice on listing as a For Sale By Owner

Buying & Selling Real Estate
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Advice on listing as a For Sale By Owner

Jessica Hood
Flipper · Winston Salem, NC · Member since 2009 · 159 posts · 32 votes

Hi there!  I am considering selling my property as For Sale By Owner.  I have never done it before, but I am very good with document processing, marketing, and learning new things.  I am a marketing consultant anyway.  It is definitely a seller's market here too.

What are the pros and cons of doing FSBO, besides the obvious money savings advantages and lack of professional hand holding?

Are there things I should know that maybe newbies learn the hard way?

Do you have any advice?

With it being a seller's market and there are pretty much NO houses for sale in my neighborhood/price range, do you agree it should be fairly easy to find buyers without MLS? Use social media, real estate websites, craigslist, etc instead of MLS? I do realize the benefit of MLS is huge.

Am I putting myself at major risk by not using a realtor?

Thanks!!

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  • JD MartinBusiness Member
    Moderator
    Rock Star Extraordinaire · Northeast, TN · Member since 2015 · 10k+ posts · 16k+ votes
    10y

    Personally, I like using a realtor because there's an added layer of separation between myself and the buyer, and some modicum of security (i.e., the person has gone to a realtor). I have known of FSBO that were cased by professional criminals, and a few cases that have resulted in violence. If you are really in a seller's market, you should be able to negotiate a cheaper real estate fee - that will usually tell you whether you are truly in a seller's market; whether or not a realtor is willing to take 4%, 5%, because it will essentially be a no-work sale.

    If you go this route, don't show your house to anyone without vetting them and without having someone else present. This is especially true as a woman. 

    PS: I've tried it before and thought it sucked. There were a lot of tire kickers. 

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  • Jessica Hood
    OP
    Flipper · Winston Salem, NC · Member since 2009 · 159 posts · 32 votes
    10y

    @JD Martin Thanks for the info! I did read the it is important to require pre-approvals before showings when listing as FSBO. And one of my first thoughts was about my safety. All great points. I had also wondered about the extra protection of having the realtor.

    I like the idea of asking the agent for a reduced fee.  I do have an agent I have worked with before.  I spoke with him recently and he told me they are having a really hard time finding houses to sell.  He seemed ecstatic that I was contacting him.

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