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What is FSBO?

Anyone who has bought or sold a home is probably familiar with the acronym FSBO–For Sale by Owner, meaning sold without the help of a real estate agent. If you’re thinking, “I need someone to buy my home,” and are considering listing FSBO, it’s important to fully understand what that entails.

Don’t worry, though: The team here at MarketPro Homebuyers is here to help! This article will help you understand what you’ll be responsible for if you list your home FSBO and a hassle free solution at the end.

Preparations:

First, the best way to get someone to buy your home is to complete any necessary repairs. You may consider doing some upgrades. Of course, this step is necessary if you’re putting your home on the market, whether or not you have a real estate agent. When you’re FSBO, though, you need to decide which updates are worthwhile without the assistance of a real estate agent. After any major repairs are started, you can also start packing and preparing your home for sale. Check out our 6-month plan to sell your home if you need some tips.

You’ll need to settle on an asking price for your home. Research similar properties that have sold recently in your area to find your ideal asking price. Avoid the pitfall of going too high or too low on the listing price—this can make you lose buyers or lose money.

Buy My Home Marketing:

Once your home is ready, you’ll want to get professional photos and create a listing on your regional Multiple Listing Service (MLS), which is the database of homes for sale used by agents and potential buyers. You might also consider listing your home on social media or community email groups. Don’t underestimate the power of word-of-mouth marketing! Let all your friends and family know your home is for sale. You should also put a sign in your yard with flyers or brochures for people who are driving by. You want your marketing to scream, “buy my home!”

Showing:

When you’re acting as your own agent, you’ll need to be available to answer questions about your home; potential buyers may move on to another property quickly if you don’t respond to their inquiries in a timely fashion. You’ll also need to schedule all showings and run open houses. Accommodating potential buyers’ availability is essential.

All of this can take a significant amount of time each week—estimate about 10-15 hours per week when your home is on the market. Make sure you can commit to this before you try to sell without an agent. You also need to be able to present yourself as a salesperson rather than a homeowner.

Negotiation and paperwork:

Once you start getting offers, you’ll need to negotiate the price and terms of the sale with buyers and their agents. You’ll need to write up the sales agreement and make sure all of your disclosures are included. Check out our article on 5 common real estate disclosures you must know so that you don’t miss anything essential! If you prefer, you can hire a real estate attorney to take care of these documents.

You may need to gather other documents such as certificates of occupancy, a property survey, permits (if you did any additions), loan documents, homeowners’ association agreements (if applicable), and of course the deed to the home. Requirements vary by state, but you’ll want to gather anything pertaining to the home or property.

For FSBO benefits without the risks, work with MarketPro.

For some people, avoiding commission by selling your home yourself can be a great move. For others—especially those without much real estate knowledge—the time, work, and risk involved may not be worth it.

If selling your home FSBO doesn’t sound like a fit for you but you want to avoid commission, there’s a better way. When you work with MarketPro, there’s no commission involved on either side. Our process also includes:

  • No fees
  • No repairs
  • No staging
  • No open houses
  • No stress!

MarketPro Homebuyers

When you call MarketPro, you won’t have to wonder who will buy my home. We will give you a fast and fair cash offer for your current home just as it is right now. You can even choose your exact closing date to coordinate perfectly with the purchase of your new home. Our team will walk you through your quote, including a review of what your home would likely bring on the open market.

If you’re in Washington, D.C., Maryland, Virginia, or Pennsylvania, we’d love to show you how stress-free the sales process can be. Contact us today for a same-day, no-pressure quote.

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