Why FSBO?
Typically, a real estate agent will charge a seller a 6% commission to market and sell the home (the systems of agent compensation can vary significantly). Over the last several years, the price of homes has far outstripped inflation. Therefore, the standard 6% commission represents a significantly larger fee than it did many years ago. Accordingly, more and more people are trying to sell their homes by themselves, aided by the growing power of the internet. If you sell a $400,000 house by yourself, you can save $24,000! If you buy a $400,000 home by yourself from someone with an agent, you may be able to reduce the sale price by $12,000, as the seller will not have to pay your agent’s fee. These significant savings have convinced thousands of people – and more every day – to buy or sell a home by themselves and without an agent.
In addition, when you buy or sell your home yourself, you know that you will be protecting your own interests first and foremost. If you use a real estate agent, you may not be as well protected due to the nature of the agency relationship and system of agent compensation.
Of course, to be fully protected, the counsel of an attorney is essential.
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