It is a seller's market and a great opportunity for the homeowner wanting to sell their home. Median home prices are on the rise, while the Days on Market (DOM) are declining. Today's real estate market has created the perfect storm for the home owner to maximize the value of their home sale by selling "For Sale By Owner" or "FSBO."
FSBO (pronounced fizz∙bo) is a method of selling property that does not require a commissioned real estate broker or agent. FSBO creates a marketplace solely controlled by the home buyer and home seller. In 2013, nearly 10 percent of all home sellers and buyers are moving away from the traditional real estate model and going FSBO. Why? Because technology and the Internet are breaking the real estate broker's monopoly and empowering home sellers and buyers. In fact, the National Association of Realtors (NAR) confirmed that 90 percent of home buyers start their home search on the Internet without the assistance of a real estate broker.
So, is FSBO right for you? This is a question every home seller should consider before listing their property with a traditional commissioned broker. If you fit into any of the below categories, you are a perfect match to sell your home FSBO.
- You are Tech Savvy: The Internet has proven to be the great equalizer in many industries. It helps travelers to more efficiently plan business trips or vacations and has reduced transaction costs for investors in the financial industry. So why not real estate? Knowledge is power and the Internet has leveled the playing field enabling home sellers to sell their home over the internet without compromising service. Moreover, sites such as Zillow and others allow consumers to list and market their properties easier than ever before.
Remember FSBO isn't for everybody, so it's important that you assess your needs and priorities as you prepare to sell your home. So is FSBO right for you? Don't tell us, we will wait to see your listing!