13 advantages and disadvantages of a for sale by owner (FSBO) sale
If you're considering selling your home in Las Vegas and wonder whether you can do it on your own, here are 13 considerations to take into account:
1. You don't pay a real estate sales commission, which traditionally is about 6 percent.
2. You can take your sign down and put it back up if you leave town or don't feel like it.
3. Do your own marketing (fliers, advertising, online presentation, photography, design, etc.).
4. The average time on the Las Vegas market for FSBO properties is 112 days, and only about 12 percent close, selling for around 96 percent of the asking price.
5. 36 percent of buyers first learned about the home they bought from a real estate agent; 24 percent from an Internet search; and 15 percent from yard signs.
6. The biggest mistake most FSBO sellers made was overpricing their home.
7. Consider your time and your safety. Are you willing to open your home to someone calling from a car or knocking on your door?
8. If a potential buyer brings a real estate agent along, you will be asked to pay their commission
9. Your home will not be included on the Multiple Listing Service, where most homes for sale are posted.
10. Most commissioned real estate agents will not bring buyers to you (because you don't pay them).
11. You must make sure you follow all the legal and notice requirements.
12. The owner will have to negotiate with a buyer without back-up.
13. The owner will have to deal with a title company, home inspectors, appraisers and the like.
From: RJrealestate.vegas. Please send questions, comments, ideas to hdekeyser@reviewjournal.com.
