I appreciate an entrepreneurial person. Truly, I am one as well.

You want to sell your own house.

You want to save money.

You can handle the marketing yourself.

You feel you are confident negotiating your own deal.

I completely understand.

There are absolutely situations where selling your home For Sale By Owner, or FSBO, can make sense. But before you put a sign in the yard and wait for someone to show up with an amazing offer (because someone told you it was a seller’s market), let’s talk about what selling a house actually looks like.

One of the biggest misconceptions about FSBO isn’t that homeowners can’t do it.

You can sell your house on your own. Absolutely. It can be done.

But at what cost? The question isn’t whether you can sell your house; it’s do want to do everything that comes with it, and whether you will actually walk away with more money by doing it yourself.

Let me explain why FSBO might not be in your best interest as a seller.

Saving a commission doesn’t necessarily mean making more money.

What Does Selling For Sale By Owner (FSBO) Actually Involve?

Selling a house involves:

• Pricing,
• Preparing the house,
• Marketing,
• Showings,
• Communicating effectively and calmly with the buyer’s side of the transaction,
• Negotiating,
• Filling out contracts,
• Navigating disclosures,
• Guiding inspections,
• Analyzing appraisals (especially if they come in low),
• Negotiate repairs,
• Manage deadlines,
• Ensuring the sale makes it all the way to the closing table.

…and that’s when everything goes smoothly.

So, before you decide FSBO is the best way to save money, let’s look at the pros, the cons, and what you’re actually signing up for.

The Pros of Selling Your Home FSBO

1. You might save money.

Let’s start with the obvious reason most people consider selling their home themselves: money.

If you don’t hire a Realtor to list your home, you don’t have that expense.

So, you save money, right?

Technically, yes.

2. You have complete control.

For many homeowners, this is a big reason to sell by owner. You decide how to market your home, who you allow in for showings, and when those showings happen. You also handle negotiations directly, giving you a say in everything from the purchase price to repairs and contract terms.

3. You Might Already Have a Buyer

Maybe a neighbor has expressed interest, or a family member wants to buy your home. If you’ve already found a buyer, you may not need the same level of marketing or listing services that come with a traditional sale.

You’ll still need to handle the contracts, disclosures, and other details, but selling FSBO may make sense in this situation.

The Cons of FSBO: What Will Selling Your Own Home Actually Cost?

Before you count that money as savings, you need to figure out what selling your home yourself is actually going to cost you.

Your time has value. How much is your time worth?

Pre-Listing…

How much time will you spend figuring out what you need to do to your house before you list it? What should you repair? What should you leave alone? Does that room need to be painted? Should you replace the flooring? How should you stage it?

Showings…

Can you answer your phone at any and all times, even during your working hours? Will you miss your kid’s game because someone can only see the house at 6:00?

Will you need to take time off work for showings, inspections, an appraisal, or repairs?

Pricing…

Then you need to figure out what it’s worth.

Is the Zillow estimate right? Maybe. Maybe not.

You can research previously listed homes online, but you’re working with the information available to the public, and that isn’t necessarily the same information a Real Estate Professional has access to when researching comparable properties and what has actually sold.

Marketing…

You’ll need good photos, online marketing, descriptions, social media posts, signs, flyers, and whatever else you’re going to use to get your home in front of people. Some of that costs money. All of it costs time.

You’ve listed your house!

Silence… you thought the calls would come flooding in (they might, but typically not like what you expect). But when your phone does start ringing, it will likely be a buyer’s Realtor.

You’ll answer questions, coordinate showings, follow up, keep track of who’s coming and when, and rearrange your schedule when someone wants to see your house right now.

You got an offer!

Now you’re reviewing the contract:

What type of financing are they using?

Are they asking you to pay closing costs, points, or their Buyer Representation Fee?

How much earnest money are they offering? Can you keep it if something goes sideways?

What inspections are they requesting, and what does the dollar amount in the inspection provision actually mean for you?

Is there an appraisal contingency, and what happens if the house doesn’t appraise?

Can their lender realistically close by the date they’ve requested?

What are your deadlines under the contract, and who’s making sure they’re met?

“It’s ok, my attorney will handle all of this.”

NOPE!

Your attorney has an important role. They will review the contract, address legal issues, help clean up language and advise you on the legal aspects of the transaction.

But they aren’t your Realtor.

They aren’t following up to make sure every deadline is met. They aren’t advising you on what repairs you should or shouldn’t agree to after an inspection. They aren’t researching comparable properties and helping you renegotiate a low appraisal. They aren’t coordinating showings, inspections, appraisals, repairs, lenders, attorneys and everyone else involved in getting your house to the closing table.

That’s still your job.

Does Selling FSBO Actually Save You Money?

Again, yes.

There are absolutely situations where selling your home yourself makes sense. But before you decide FSBO will save you thousands, make sure you’re counting the real cost: your time, your expenses, your work, your supplies, your sanity… and of course, what you will walk away with at closing.

It’s more than just the money when you sell a house yourself.

Thinking About Selling Your Home in Bloomington-Normal?

Go for it, just make sure you do research to protect yourself before you begin the process.

Not quite as sure about For Sale By Owner as you were when you started reading?

Shoot me a text, give me a call, message me on FB, or send me an email.

It’s not my job to convince you to use me, or any Realtor.

It is my job to make sure you have all the information to make the best choice for you!