FSBO

[tiara]

What do you guys think are the advantages and disadvantages for Sale by Owner (FSBO) instead of through an agent?

[MichaelG]

Advantages may include a no comission sale, many buyers during a sellers market and being able to negotiate directly with the buyer.

Some disadvantages include a lower selling price, dealing with unqualified buyers, fewer buyers in all markets and bird doggers trying to profit from you not knowing what your property is worth.

A good alternative is having a real estate lawyer handle the purchase and sales agreement. They will charge a flat fee instead of a percentage based commision

[clintonbaisley]

Selling your own home may sound appealing, and it can save you thousands of dollars if you are up for it. It can also cost you thousands if you go about it the wrong way. FSBO stands for “For Sale by Owner”. Many homeowners choose to sell their home without the aid of a real estate broker.For sale by owner or FSBO has definite advantages in certain situations. When you decide to fsbo a home you stand to save at least half of any sales commission paid on the sale of the home. This is frequently in the range of 3% of the total price of the home. If the deal is completed and uncontested without any problems then the savings can be substantial. In the case where a problem comes up, then you must earn your savings.
The array of problems that can occur is as varied as the people that participate in the real estate market, some are reasonable and easy to fix and some are anything but. One of the most important things to know about selling your home is that in order to sell it you must get people in to see it, remember your home is competing with all other homes on the local market the biggest challenge to selling your home is getting people in the door.