If you’re putting your house on the market, working with a real estate agent can spare you the ordeal of doing everything and bring experience to negotiation. Sometimes, though, it’s better to be in more control of the situation. After all, brokering your own deal comes with a lot of upsides. This is why “for sale by owner” or FSBO has become a viable option, particularly in a seller’s market.
Here are the best reasons you would find it rewarding to forgo traditional realtor services:
The biggest advantage of selling your property yourself is that you’ll get to pocket all of the proceeds. This is especially true when you deal with a quick house buyer that pays cash in a matter of days. In typical real estate transactions, 4% to 6% of the selling prices goes to the middle person, which is tens of thousands of dollars.
If you don’t mind speaking with the buyer face-to-face and do the necessary heavy lifting to prepare your home, then taking the FSBO direction can make your richer after the sale.
The benefit of working with realtors has diminished with the advent of peer-to-peer real estate marketplaces, such as Homie, Opendoor, and Faira. Before, you have to rely on a real estate agent’s MLS listing service to put your property in front of as many buyers as possible. Now, you can increase your house’s visibility with a listing site that does all the realtor duties for you for a relatively small fee. In a way, the platform acts like a real estate agent except it only takes a tiny slice of the pie.
Moreover, these marketplaces can give you access to reliable professionals you may need during the real estate transaction. Be it for home improvement or for a property appraisal, you can find the experts you need more easily.
When DIY-ing the home selling process, you can get it sold the moment you find an attractive buyer. You can’t expect the same from realtors because they have a vested interest in your property too. Real estate agents might wait to receive as many offers as possible to get the highest commission. If you don’t want to wait around for months and just want to turn your property into money ASAP, the FSBO model is for you.
Make no mistake; selling a property is no joke. But it’s doable if you have the willingness and patience to learn. If you do enough research and capitalize on the tools at your disposal, you can navigate a real estate transaction on your own in a frictionless way.