For Sale By Owner

I have some simple advice for the For Sale by Owner (FSBO). Although I am not a licensed real estate agent, I have completed the schooling to be a better informed investor and general member of our economic community. Most likely you are trying to save money by not using a selling agent, however you are likely to experience more of a headache. I'm not discouraging the notion, but be informed as this is not for everyone. Here is a list of tips to keep in mind:

1) The trade is changing and many agents are offering low commissions and even flat fees, stay open-minded for a agency opportunity.

2) Several forms of marketing available to agents are not available to you. You will need to be resourceful. Hint, hint - virtual tours with Travis Tours

3) With the money you are saving, pay the extra dollar for a good lawyer, title agency/closing company and appraiser.

4) You don't have an agent, but most likely the buyer will. This means that you have less people working for you and your interest so be sharp.

5) The buying agent may suggest a transitional/neutral broker agency. This means they are basically representing both sides. Sometimes the FSBO agrees to this type of agency at the last resort, but you were better off establishing a selling agency with your own real estate agent for better fidelity reasons.

There is a lot of information online for the For Sale by Owner and one of my favorites is ForSaleByOwner.com