FSBO/For Sale By Owner FAQ

What are For Sale by Owner homes?

A For Sale By Owner or FSBO is a home that is listed for sale without a real estate agent. Most homeowners who choose to do a FSBO do so to save money because there is no real estate agent commission. While commissions can vary, they usually account for 6% of the home’s sales price. This fee is split between the listing agent and buyer’s agent.

Can For Sale by Owner list on MLS?

The MLS or multiple listing service is the foundation of the real estate market. It’s a massive database of home listings with about 700 regional databases. Every regional MLS has its own listings and real estate agents pay dues to access the MLS and post homes. Many websites you will see that list homes for sale actually aggregate home listings through condensed versions of MLS listings. Continue reading

For Sale By Owner Listings in Michigan

Many people who are looking to sell a home will often enlist the services of a real estate agent or broker to complete this task for them. In most cases, realtors make the process easier as they will devote their efforts towards selling the home. While a realtor is very beneficial for many sellers, there are some people who prefer to sell a home by themselves. Whenever a person sells a home independently, they will list their property as a for sale by owner. This has been one of the emerging trends in recent years. Many people in the state of Michigan have looked to sell their homes without the assistance provided by a realtor. When looking to list a home as a for sale by owner, it will be important to consider a number of things. These include the types of homes sold, the price, size, condition and also on how to market the property. By focusing on these things, sellers will be in better position to sell their home in a timely manner as well as educating buyers about the property. Sellers who offer FSBO listings will benefit by using companies such as Reozom.com to help them with the process. Continue reading

Zillow Alternatives – Reozom and Other MLS Providers

If you’re thinking about selling your home, there are a variety of things to consider. For example, is for sale by owner a viable option, or should you enlist the services of a professional realtor. That said, if your goal is to save on realtor fees, listing and selling your home on your own might be a more attractive proposition. But what does this process entail, exactly? This is a common question that many homeowners have, and in this article, we will explore the tenets of selling your home without the aid of a professional realtor.

It should be noted that selling your home on your own does not absolve you from the task of listing and showing your home to prospective buyers; this is still a necessary, and critical, step for selling a home. However, if you have never sold a home, this process may seem daunting. Fortunately, there is a myriad of online services that can help streamline this process for you, Zillow being one most recognizable. Continue reading

Trulia Alternatives – Reozom and Other FSBO Listings

Trulia is an online platform that deals with the residential real estate for renters, home buyers, home sellers as well as the United States real estate professionals. Trulia forms one of the best sites in the online real estate business with some more new features hence, making it outstanding. The Trulia platform offers similar services like those of Zillow. Zillow used 43.5 billion to acquire Trulia in 2014. The company arranges properties for rent and sale including data and tools required in the process of home search. Trulia site will help locate your next home. The website presents a new resident info map that is not available anywhere else. The platform serves millions of users across the world who wants to sell or buy their homes within the United States. In addition to this, the company provides new updates on new rentals and houses that are fresh in the market, the price history of the homes as well as information on their affordability. Trulia platform not only serves the real estate sector but also offers the best instrument that conveys all the central statistics about properties. The main features of the platform include: Continue reading

For Sale By Owner Infographic – Selling your Own Home

FSBO & MLS Listing - Sell your Home - No Realtor

Selling a Home on your Own through Flat Fee MLS/FSBO Listings

I. Why sellers choose flat fee MLS/FSBO listings:

  1. The seller wants more control of the sales process
  2. The seller does not want pressure from a real estate agent demanding that they sell to anyone for any price.
  3. The seller prefers to save money on real estate fees.

II. How to sell your home on your own

  1. Cut out the middleman
  2. Get your property listed on an MLS
  3. Market your Listing

III. Why the popularity of MLS/For sale by owner has grown over the years

  1. According to MLS data, flat fee MLS listings sell faster than full commission listings sold by traditional realtors.
  2. For Sale by Owner (FSBO) users who list on MLS’ using an entry-only MLS listing end up selling their home on average for a higher price per square foot than homes sold by traditional full commission agents
  3. Flat Fee MLS listings allow homeowners who want to list by owner to save thousands of dollars in real estate commissions
  4. 2014 data available for a Massachusetts MLS system showed that 198 single family homes sold in 2014 across Massachusetts that have leveraged the entry only through MLS process (seller lists on the MLS for sale by owner without a realtor) carry an average days on market (DOM) of 89 and the average sales price per square was $213
  5. In contrast, 11,623 single family homes that were sold by traditional real estate agents charging a full commission where the average days on the market was 109, the average sales price per square foot was $205
  6. In 2014, on average, FSBO’s who listed their homes in MLS with an entry-only MLS listing have saved $10,790 in real estate agent commission
  7. In 1981, 22% of home buyers read newspaper ads to find a home and 8% used friends as information source. In 2016, 44% looked for properties online first. In today’s digital age, search for homes is done through apps and online listings to maximize the ability to compare homes on the market according to selected features.

Sources

https://en.wikipedia.org/wiki/Flat-fee_

13 tips on how to sell your home without a real estate agent


https://entryonlynewengland.com/2014-mls-statistics-show-entry-mls-benefits-fsbos/
https://www.nar.realtor/sites/default/files/reports/2017/2017-real-estate-in-a-digital-age-03-10-2017.pdf