If you've ever sold a home through a real estate agent, you've probably wondered if you could have saved money by selling it yourself. While some have succeeded in the For Sale By Owner (FSBO) market, others have encountered horror stories. The good news is that it's easier than ever to succeed in the FSBO market, thanks to the proliferation of FSBO websites.
Gone are the days of simply putting up yard signs and placing ads in the local paper. With the advent of the internet, there has been an explosion in the number of websites and services available to help homeowners sell their homes on their own. However, not all FSBO websites are created equal. Let's take a closer look at how these websites can help you sell your home successfully.
How Do People Know That Homes Are For Sale?
MLS Listings
One of the main arguments against selling your own home is that it won't be listed in the Multiple Listing Service (MLS). The MLS is the database that reputable realtors use to exchange information on the houses they're buying and selling for their clients. Until recently, only licensed real estate agents had access to these listings. However, the internet has changed the game.
Major Real Estate Listing Websites
Websites like Zillow, Trulia, and Realtor.com have become the go-to platforms for house hunting. These sites have cut deals with the MLS, allowing them to use most of the same information available to realtors. To have the best chance of selling your home in today's connected world, you need to have it listed on these major real estate sites.
Other Home Marketing Options
While traditional methods like yard signs, local ads, and word-of-mouth still have some value, the most effective way to sell your home is by listing it on the MLS and major online real estate sites. This is where FSBO websites come in handy.
Best FSBO Websites
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Houzeo: Houzeo offers a "flat-fee MLS service" starting at $199. This includes an MLS listing that appears on major real estate websites like Zillow, Redfin, and Realtor.com. For an extra $100, you can upgrade to their silver package, which includes more photos and virtual tours. Houzeo's online interface makes it easy to set up and manage your listing.
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Fizber: Fizber offers similar services to Houzeo but at slightly higher prices. They provide MLS listings starting at $299, with options for more photos and social media ads. However, be cautious of extra fees for services like transaction coordination.
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FSBO.com: FSBO.com offers listings starting at $99.95, with options for MLS listings and syndication to major real estate sites. However, be aware of extra fees for additional photos and listing changes.
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Zillow and Trulia: While Zillow and Trulia offer free FSBO listings, they prioritize MLS listings and may not give your listing the same prominence. It's worth paying a few hundred dollars to get a better chance of finding a buyer.
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Facebook: With nearly three billion active users, selling your home on Facebook can be a viable option. You can post your listing in the Facebook Marketplace for free and increase exposure by buying additional advertising.
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Craigslist: While less conventional, sellers have found success on Craigslist. However, be prepared for lower selling prices compared to traditional real estate listings.
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ForSaleByOwner.com: While this site has been around for a long time, it only lists your home on their website and doesn't syndicate to other sites. It may not give you the exposure needed to attract potential buyers.
Other Ways to Save Money on Agent Fees
Selling your own home can save you thousands of dollars in listing agent fees. However, it's essential to remember that you'll still have to pay the buyer's agent fee, which can range from 2.5% to 3% of the selling price. Exploring alternatives like iBuyers or services like SellYourHome.com can help you save even more money on agent fees.
Conclusion
Selling your home through FSBO websites can be a smart move, but it requires experience and patience. These websites offer the chance to list your home on major real estate sites, increasing visibility and the likelihood of finding a buyer. While FSBO may save you money on agent fees, you'll still need to consider the buyer's agent fee. With the rise of FSBO websites, homeowners have more options than ever to sell their homes without relying on traditional real estate agents.
