[ Click here to return to list of articles ] For Sale By Owner - Clear Lake, Friendswood, Webster For Sale By Owner - Pros and Cons of DIY Home SellingMarch 8, 2010 Selling your home For Sale By Owner (FSBO - called a "Fizbo" in real estate lingo)can be a tempting option for many homeowners who decide to offer their house for sale. Who wouldn't want to pocket upwards of $10,000 extra from selling their house (that's the ONLY pro to a FSBO, by the way, and is far outweighed by the cons)? It's really not that hard to sell a house, is it? So much of a REALTOR's work is behind the scenes -not all real estate agents are REALTORS, and only REALTORS have access to the Multiple Listing Service. Many people see nothing more of their neighbor's home sale than a for-sale sign going in the yard and a few REALTORS showing the house. The home seller understandably thinks, "I can do that myself"! Imagine this scenario - you're a FSBO seller, and you just received a verbal offer from your neighbor's Aunt Betty who's retiring and moving closer to family. Great! You're so excited. Neither of you is working with a real estate professional, however, now nobody really has any idea what to do next. Did you know state law requires you to disclose certain information about your house to a prospective buyer, whether you're working with a real estate professional or not? How do you get the offer in a legal, binding form? This is one aspect of how a REALTOR earns his/her commission - by guiding you through the home sale process step-by-step, and supplying all the real estate forms you need (always consult an attorney for legal advice). Let's say, as a FSBO, that you aren't lucky enough to have a neighbor with an Aunt Betty who's looking for a house. You put a flyer up on the bulletin board at the corner gas station, and placed a great homemade for-sale sign in the yard, but have only had nosey neighbors ask about the house. Now what? REALTORS have the Multiple Listing Service on their side. MLS gives them detailed information of thousands of homes that are for sale in a particular area. As a FSBO, your house is not part of the Multiple Listing Service. More importantly, REALTORS have buyers! Since home buyers typically don't pay for the services of a REALTOR, they are far more likely to go straight to a REALTOR for assistance in locating and purchasing a home than to try doing it themselves. So, while selling as a For Sale By Owner is a homeowner's option, the experience can be a lot like stepping over a dollar to save a penny. For more information, contact us now! [ Click here to return to list of articles ]   Bookmark this website!

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