Real Estate

FSBO saves commission on sales

Recently I sold a For Sale by Owner aka FSBO house. The seller wanted to sell the property quickly and for as little cost as possible. The seller was willing to work with me as a Realtor if I brought a buyer, which I did. The sale went very smoothly and closed on time.
I am sure the seller was proud that she only paid half of the standard commission, since there was no listing agent. Of course I imagine she paid some advertising costs including that of the sign in the front yard.
But what did it really cost the seller to forego the advice of a licensed realtor who was knowledgeable about the area. Maybe the seller was simply looking for a quick sale by luring a buyer looking for a discounted house. But it has been my experience that if you price the house correctly, the house will sell in a reasonable amount of time without giving it away.
This property was in a historical part of our city that has increased in value over the past few years unlike some of the other parts of the market. It was in nice condition. The appraiser appraised the property for $10,000 more than the sales price. In our current market we are still having appraiser’s value property below sales prices. In addition, I showed comps that valued the property $30,000-$40,000 above the actual sales price.
So although the seller saved the commission, the actual amount money she put in her pocket may have been less than if she had hired a professional.
Hiring a professional licensed realtor to help you sell your home can potentially net you more money in less time. In addition, when you hire a realtor to sell your property, the realtor pays the marketing expense not you the seller. They also help you to price and negotiate the terms of the deal so you get the best price in the least amount of time. Most realtors only work with prequalified buyers so you have buyers looking at your house not window shoppers.
If you are considering selling your home, please contact me. I would love to help you market your house and get it sold for the most money possible. Call me at 405-213-2992 or visit my website

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