Following are some arguments for and against a For Sale By Owner (FSBO) scenario:
Pros
- You might save money on a realtor’s commission if you manage to sell your house quickly, for asking price or above, though you will still probably have to pay 3% to a buyer’s agent.
Cons
- Your home will probably sell for less money than if you’d listed it with an agent. As much as 20% less.
- You will be responsible for all phases of the sale, including advertising, showings, appraisals, paperwork, and acquiring a loan and insurance.
- You will be responsible for making whatever fixes and upgrades are needed to sell your home.
- You will not be able to list your home on the Multiple Listing Service (MLS).
- Your house will probably take longer to sell – approximately 20% longer.