Your FSBO Home Sale

For Sale by owner, or FSBO ("fizz-bow") is an increasingly popular house sale choice that many sellers are using to save tens of thousands of dollars. Are you ready to sell your home? Do you want to get more money out of the sale? Everyone wants to get the most they can out of the equity in their home when they sell, but paying large real estate commissions can really bring down the size of the check once the sale of your home goes through. If you are interested in keeping more of the transaction money then consider selling your home For Sale by Owner.

Selling for sale by owner means that the sellers do the work to sell your property, and therefore keep the money. You will need to advertise your property in order to get the word out that there is something new on the market that is worth looking at, and as a FSBO the responsibility falls on the owner's shoulders. Owners can put ads in the local newspapers, but advertising on the internet is one of the best ways to get the word out aboutthe house for sale to a multitude of potential buyers. The internet can reach people all the way across the country who have to relocate to where the house area and are trying to purchase a house long distance style. Some of these people will fly in for a weekend and look at all of the homes they were interested in from the pictures and listings on the internet, and in that weekend they will purchase a home.

Most real estate agents charge between five and six percent sales commission when they sell a property. If, for instance, a home is worth $200,000, then the real estate agency charges between $10,000 and $12,000. If a seller spends 100 hours selling a home as a FSBO, that's like earning between $100 and $120 per hour--a very healthy hourly rate.

Make sure to put a sign in the yard with an info box where people can take a FSBO brochure of some type that details the amenities of the home for sale. Include the amount of bedrooms, how many full baths and half baths, the total square footage of your home, if there is a full basement, if there is a walk-out basement, if the basement is finished, and the sizes of all the rooms. Advertising should also include any recent updates, like the kitchen being remodeled, new cabinets, new carpet, or newly re-finished hardwood floors. If there have been any major home improvements put this information on the brochure, like new roof in '05, or new hot water heater in '04. Buyers are interested in thee details; without them, the house buyers might pass on a FSBO house, but the details are important for gaining attention.

Always put a lot of good pictures on the FSBO selling brochure. The front page should have a picture of the front of the property, but FSBO sellers can have multiple sheets attached with many pictures of the inside. In the pictures the house should be clean and free of pets. While owners may think it is cute to have the dog in the picture, buyers who might not like dogs, has a fear of dogs, or is allergic, the seller may have just lost a potential buyer.

Once sellers have created a great FSBO brochure and the property is amply advertised, there should be no major obstacles remaining in trying to sell the listed home as a FSBO. Then you will have more of your hard earned money in your pocket rather than in the pocket of a real estate agent. While this is the primary reason people list "for sale by owner," the savings are only part of the experience. The satisfaction of doing this yourself, of showcasing the home, and of learning more about the legal and business process of real estate is a reward as well.