You technically don’t need a real estate agent to sell your home, but is going solo the right approach? Selling your
home as “for sale by owner,” or FSBO, can have both advantages and disadvantages. If you’re not sure which approach
is right for you, take some time to consider the major pros and cons of selling your home on your own.
FSBO Pros
Avoid commission
Saving on real estate commissions is one of the main reasons sellers choose the FSBO approach. When you work with a
real estate agent, you agree to pay a percentage of the sale price to them as commission.
This is something you’ll need to factor into your asking price and your eventual closing costs. As the average real
estate commission rate is about 6 percent across the nation, FSBO can help you save thousands of dollars on
commissions.
Use other resources
There are a plethora of FSBO assistance tools and programs available in today’s marketplace. Everything from online
listing management portals to affordable DIY marketing campaigns can help you sell your home without professional
help.
FSBO Cons
No MLS access
While you might be able to advertise your property online by yourself, only licensed real estate agents have access
to the local multiple listing service (MLS). Having your home in the MLS database significantly expands the audience
for your listing, and missing out may cost you potential buyers.
Selling is a full-time job
Many sellers underestimate the amount of work involved in selling a home. A real estate agent will coordinate
everything from scheduling and hosting open houses to closing paperwork. While it’s certainly possible to handle it
alone, the process will likely be much slower than if you work with an agent.
There are many advantages to working with a real estate agent to sell your home, just as there are many advantages to
FSBO. It’s important to weigh your options carefully and consider all aspects of the process – including
commissions, marketing, MLS access and more – to choose the best possible approach for your home sale.