So you’re ready to sell your house and you’re wondering, Should I do For Sale by Owner (FSBO)? After all, maybe you’re already a pro at selling used stuff like furniture, treadmills and antique gumball machines.
But is selling something as expensive as a house really as easy as planting a sign in your yard and waiting for buyers to stroll in? (Somewhere a real estate agent is laughing.) But seriously, selling a house is one time when you should always have a professional on board.
Let’s find out why.
What Is For Sale by Owner, Exactly?
First, let’s start by defining For Sale by Owner. In the real estate biz, For Sale by Owner or FSBO (pronounced “fiz-bo”) is when the owner of a house sells it on their own—without any representation from a real estate agent. You may have even seen yard signs with those exact words: “For Sale by Owner.”
Is For Sale by Owner Worth It?
Most home sellers decide FSBO isn’t worth it because it’s more of a hassle and you walk away with less money. Last year, less than 1 in 10 home sellers went the FSBO route and sold their homes at a median price that was 11% less than those who sold with a real estate agent.