“A For Sale By Owner, or FSBO… is a home that is being sold directly by the seller, without a listing agent. The benefit to the seller is that he is not paying a commission on the sale of his home, saving him between 3 and 6 percent of the final agreed-upon selling price. However, this means that the seller is responsible for all of the detailed work involved in the sale of his home” (HomeGuides). If you are thinking about taking the For Sale By Owner approach for the sale of your property there are some important things you need to consider before you jump in. While an FSBO approach can prove effective and can save you money, it can easily spiral out of control and spell major trouble if not done correctly! Read on to learn more about this popular way to sell a property with some help from your neighborhood realtors Iowa City FSBO residents have come to trust.

For Sale By Owner is for Experienced Sellers

For individuals who are experienced in the process that is involved in the purchase, sale, and marketing of a home, going with the FSBO option makes sense as it can save them money on realtor and legal fees. On the flip side, for someone who is inexperienced in sales or not strong in their marketing prowess could lose money and end up in financial and legal trouble if they go at it alone. This is why it is always best to use real estate experts to help if you are at all uncomfortable with your abilities to go the FSBO route.

Where FSBO Sellers Go Wrong

The single most important task a seller must do when taking the For Sale By Owner approach is to make sure the house is ready for sale and that is it priced accordingly. This is the part of the transaction where sellers make the biggest mistakes. Homes must look neat and clean and tidy to appeal to new buyers and many homeowners do not know what people actually look for when looking at homes to buy. What appeals or is acceptable to the seller often times is undesirable to a majority of buyers.

Getting Expert Insight When Needed

A seller who can stage, price and market a home may want advice on contracts and the legal aspects of the sale. They may also need assistance with paperwork, contracts, and ensuring all state and local codes and laws are enforced and upheld during the sale process. Some agents will work with FSBO clients on a flat rate one-time fee or for a modified retention fee until the property is sold. You may be able to handle every aspect of the sales process on your own but even experienced FSBO individuals know to get help when it comes to the legalities involved with the sale of real estate. Contact us today to learn more and to get the help you need from your neighborhood realtors Iowa City has come to trust!