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HomeSellersFor Sale by Owner (FSBO)

For Sale by Owner (FSBO)

The main reason people sell their home privately without a real estate agent is to save on costs. In a deal where there are no real estate agents involved, you could save a sales commission of up to 3% of the sale price. For a $300,000 home, that commission can add up to as much as $9,000.
Consider, however, that your buyer will likely use a real estate agent, in which case you will be expected to pay the buyer's agent up to 1.5% of the sale price, or as much as $4,500 for a $300,000 home. And don't forget, you still have to pay a lawyer to finalize the deal.

4 Reasons to Sell Your Home Yourself

  • You have the time and ability
  • Lower sales costs
  • More control over the price
  • More control over the sales process
There are a variety of websites that can help you sell your home privately. These are often called for sale by owners (FSBO) websites. You can also pay a discount broker a small flat fee to advertise on the Multiple Listing Service (MLS®) site.
It's easier to sell your own home in a hot real estate market. When home sales drag, finding a buyer yourself may not be so easy.

What Every Homeowner Should Know Before FSBOing

5 Reasons to Use a Real Estate Agent

  • Their knowledge, skills and resources
  • Convenient because they handle all aspects of sale
  • No separate sales costs beyond agent's commission
  • May get you a higher price
  • May sell your home faster

5 Questions to Ask Yourself

  • Are you confident you can sell your home for a price close to what an agent would get for you?
  • Do you want to be highly involved in the sales process?
  • Will you have time to show your own home?
  • Are you comfortable showing your home to buyers?
  • Are you comfortable negotiating with buyers and their agents?
If you answered no to any of these questions, you may want to use a experienced and knowledgeable real estate agent.

          Erik did a great job of showcasing the home via print and digital media, and, as a result, the home sold much sooner than we had anticipated. - Barb Sweeney
Macdonald Realty, 100-2429 152 Street, Surrey, BC V4P 1N4 Copyright © 2017 Erik Hopkins. Reproduction Strictly Prohibited.