As the economy continues its downward spiral, real estate is taking a huge shift from being a seller’s market to a buyer’s market. There are several really good online MLSs for FSBO sellers and buyers. If the sale was For Sale By Owner” off-market – the National Association of Realtors has no data to support on how long the sale took. Though tedious, the pre-approval process sets your price range, shows the seller you’re ready for business and can be a pretty powerful negotiating tool.
There are other new or hybrid options in real estate such as Redfin, which would reduce your listing fees by a little more than half the traditional amount. The advantage of getting an agent in a low market is, there are certain strategies that some FSBO sellers do not know.
That growth is nothing compared to the hundreds of thousands of homes sold every year by agents. Look for a real estate attorney or a transactional agent,” suggests Realtor Joanne Bernardini with BHHS Fox & Roach in Northfield, NJ. That’s a broker who acts as a neutral party to ensure the paperwork is legit.
Their goal is to write the loan for the buyer of your property, so they are motivated to help you sell the home. To start with you can listen to the sales pitches of professional real estate agents. Let the FSBO seller know that they can set the ground rules should they choose to list with you.
The best and most accurate way of determining price comes from a full-blown appraisal done by a professional real estate appraiser. FSBO scams happen to both buyers and sellers with little recourse besides hiring an attorney. For Sale By Owner transactions involve a lot of work, but can save you money.