Whether it's a home or commercial property for sale by owner, you can save thousands of dollars by selling it yourself because you can forgo the commission paid to a real estate agent or broker. However, you'll be doing most of the work yourself and time is money also.
Exposure for your business FSBO is the key to a fast and profitable sale. The best way to do this is to post an ad or listing with a reputable multiple listing service (MLS) site or sites specifically designed for FBSO listings.
Consider the following information on pricing and costs of for sale by owner (FSBO):
1. Realtors and brokers typically charge 6% for commission on your property sale. By going the business for sale by owner route, all that money stays right in your pocket.
2. A hidden cost to commercial properties for sale by owner may be the need to consult with an attorney on negotiating a price with a potential buyer and making sure the appropriate paperwork is handled properly.
3. When selling your home yourself, you may want to consider other exposure options besides Internet listings such as lawn signs or placing an ad in a local newspaper.
Action Steps
The best contacts and resources to help you get it done
Post FSBO listings for a flat fee
Posting your home or business for sale on the MLS is known as the premier way of conducting business. Realtors use the MLS on a daily basis to see what properties are available for buyers. Through a flat fee, a listing real estate agent will post your property but receive no commissions once the home sells.
I recommend: Find what's included in your flat fee price and how to place an order via
Flat Fee Listing. For flat fee pricing options, use the map at
BuySelf Realty.
Consider a monthly contract rate for a FSBO listing
Instead of a flat fee, some listing Web sites will allow you to be billed monthly. This might be helpful if you only want to test the waters for a short time or if you think your property may sell quickly.
I recommend: You can post your vacant land for sale at
Land-For Sale by Owner for a monthly fee. At
RealEstatePhotos.com, you can post multiple pictures and information about your property for a 3-month fee.
Register your property FSBO for free
Free? Seem too good to be true? What have you got to lose? Well, you could lose out on service, quality and experience more competition when it comes to attracting a buyer. However, FBSO listing sites that offer free postings still offer exposure. If you don't get the response you're looking for, you can always go with the monthly or flat fee option.
I recommend: Up to three pictures of your property, a map, and best of all links to major search engines is what you get for free when you sign on to
Homes FSBO By Owner. Or check out the free services at
AllStatesFSBO.com.
Tips & Tactics
Helpful advice for making the most of this Guide
- Just as when working with a Realtor, a buyer has the right to request an inspection on homes for sale by owner. Be prepared to make any required repairs or the buyer may cancel the offer.
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