Sell My House Without A Realtor with a FSBO Listing. - 04/22/09
Sell My House Without A Realtor with a FSBO Listing.
If you're thinking, "I should sell my house without a realtor," the current real estate market and explosion of the Internet will make your job easier and you should start with a FSBO Listing.
Sell My House Without A Realtor
If you are looking to sell a house without a realtor, you are known as a "FSBO" seller. FSBO stands for the phrase "for sale by owner." A FSBO Listing is a For Sale by Owner Listing. Although FSBO sellers have always existed, they have become much more prevalent in the last few years due to two primary factors.
An insanely hot real estate market has made realtors somewhat irrelevant in many parts of the country. For instance, homes in San Diego, California were known to be on the market for less than two weeks on average in early 2005. Keep in mind, this was the average time it took to sell a home including the run down messes. In such a market, many homeowners started wondering why they were paying six percent commissions to a realtor who didn't have to do much. Now with our current market as of April 2009, with home prices being down, more homeowners are looking for a FSBO Listing. It make total sense, with home price down homeowners are asking “Why am I paying six percent commissions”.
The creation of a FSBO Listing or For Sale by Owner, real estate sites like this one has exploded over the last three or four years. As buyers and sellers became more familiar with these FSBO Listing sites, they often searched online for homes instead of driving areas with a real estate agent. This resulted in sellers wondering why they should pay a FSBO MLS (Multi Listing Service) Listing commission of 6 percent to a realtor when a site like FSBO-Search.com only charges a small amount to list a home on the site. Many couldn't come up with a reason.
The decision to sell your house without a realtor is one you should make carefully. If you're comfortable with the sales process, going FSBO and getting a FSBO Listing makes all the sense in the world and savings. If you're not comfortable with the negotiating process, then you may want to consider using a realtor. Ultimately, your first step should be to buy a FSBO BOOK in your local bookstore and read up on what is involved.