Sunday, August 25, 2013

Are you a good candidate for a FSBO (For Sale By Owner)?

Photo attribution at bottom
As a seller, are you a good candidate for a FSBO sale?  As a buyer are you ready to deal with a FSBO? 

Whether buyer or seller the For Sale By Owner route takes specialized knowledge about the real estate sales process.  An inexperienced party on either side of the FSBO transaction may be significantly disadvantaged if the other person is experienced.

If one is determined to sell as a "for sale by owner" I will not twist their arm in order to change their mind.

Some FSBO sellers succeed while others fail.   I read an article this morning that stated only 12% of FSBOs succeeded in 2012.  Another article I read had the number at 30% which is the highest I have ever seen anywhere.

Regardless of success percentage I think one of the most important numbers is "FSBOs accounted for 9% of all home sales in 2012."

Why would a buyer opt for a FSBO?  For the same reason a buyer thinks a foreclosure or short sale may be the preferred choice - an attempt to save money.   But the reality is a FSBO seller may be willing to pay your real estate agent.  As a buyer, talk to a buyer's agent before approaching a FSBO.  They may just save you money and not cost you a dime!

I encourage anyone considering the FSBO route to research the process.  Take a look at the pros and cons.

If you are considering a FSBO send me an email with your questions.  Like I said above, I will not twist your arm to change your mind!

photo credit: laudu via photopin cc