Making sure the price is right will ensure that you don’t lose money. This means that you will have to do research and hire an appraiser. To make sure you don’t get hustled, you will probably have to hire a lawyer, too. Hiring all these people will make you wonder if this is really a way to save money.
PROS
• No commission. • Full control of the process (this is both a pro and a con). You get to pick the price, the appointment times, and when/how/if you negotiate with a buyer. If a real estate agent is selling your home, there are going to be people walking through at any time throughout the day, so the home must be kept in showing condition constantly. • You know your home, so you can point out all its amenities in their best light. • There are a lot of channels for you to list your home. You can put a sign on your lawn with attractive flyers, put an ad on Craig’s List, and list it in local papers and on websites like ForSaleByOwner.com, HomesByOwner.com, Zillow.com and Owners.com.
CONS
• The home may sell for a lot less than it is worth. Statistics show that the average FSBO home sells for as much as 20-30% less than homes sold through traditional real estate agent channels. • Your house sale will have less visibility. While there are lots of venues for you to promote your home, only real estate agents can list homes on the Multiple Listing 52
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