Should You FSBO?
If you are currently a "For Sale by Owner" or thinking about going that route, we think you will find this information useful.
We believe, that in many instances, using our full service, flat fee business comes down to $500. Allow us to explain.
To agree with that $500 claim above, we need to be in agreement that most buyers have an agent of their own. Based on stats, we know that more than 80% of buyers have their own agent representing them.
If this buyer looks at a "FSBO", the agent will expect to be paid. The normal rate is 3% of the sales price.
Assuming that is true, the seller has now paid 3% whether they have listed their home or not. Many FSBO's also attempt to get some help by hiring a "FSBO" company. These companies can assist with some things, but there are a few key things to remember about most of these companies as well.
- Your property does not show up on the MLS (This is the most important part of a listing!)
- These companies do not act as an "agent" meaning their duties to you are not the same as the duties an agent owes you in a transaction.
- They often charge a fee up front that you are out if they do not succeed for you!
One local company that is quite popular, charges $500 up front and another $1,500 at closing. So, under a fairly typical circumstance, you would be on the hook for $2,000 to the "FSBO" company, plus 3% to the buyers agent. Still no MLS, still no agent representation.
Are you still asking yourself if you should sell your home yourself?
You could go another direction. You could have your OWN agent like us. You could be on the MLS. You could be charged zero up front.
You could have all that, for just $500 more. Is it worth an extra $500 to work with a licensed agent that has a legal duty to you to try to get you the best deal and protect your interests?
Is it worth that $500 to get your home included in the MLS (which means it will appear on places like Zillow and Trulia), where agents with buyers search for homes?
Is it worth an extra $500 to know your agent has to produce for you or they will not make a penny, since we do not charge up front?
Our flat fee model is $2,495 +3% of the sales price to the buyer's agent. That is a full service listing you will be proud of. Based on the example above, you can have that for an extra $500.
We believe it is well worth the price that you pay to have somebody truly in your corner and acting on your behalf.
Are you still thinking that going the FSBO route is right for you, send us a message; we are happy to talk anytime.