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To Choose a For Sale By Owner Real Estate Service

Wednesday, March 6th, 2013

Maybe you don’t have a lot of equity built up in your home and the thought of having to pay high real estate commissions to a broker just isn’t possible. Or maybe you just like saving money when you can. What ever your reason for looking at for sale by owner real estate options you’re not alone.

More and more people every year are looking for alternatives to full service real estate firms in order sell their homes. So what are you really giving up if you choose to sell your own house versus using a realtor? and what should you watch out for when choosing a company to list your home on your own? We’ll answer these two questions in this article.

What Are You Losing by Going For Sale By Owner

The long and short of it is you need to handle everything when you’re selling your own home. A good for sale by owner brokerage will get your house listed on MLS so that other buyers and potential buying agents can see find the house, however after that it’s all you.

Where a full service selling agent would field phone calls, emails etc. from prospective buyers and agents that will fall on your shoulders. Arranging showings and negotiating a deal with a buyer will also be something you’ll need to deal with when you do find a buyer.

What to Look For in a Company

The key to having a successful for sale by owner transaction is getting your home on the multiple listings service (MLS) in your province.

MLS is still the most used website by individuals when searching homes for sale and is the only site that licensed realtors use when seeking homes for their buying clients. In a nutshell if your home isn’t listed on MLS then the majority of people searching for homes in your area isn’t going to find it. So ensure that the company you choose includes a listing on MLS in your province.

Second, get a yard sign. People driving through neighborhoods they like will often see a sign and then note the address to search on MLS later. If you don’t have a yard sign then people won’t know your home is for sale.

Now these final points aren’t a must but can be of great assistance.

If the brokerage you deal with offers assistance with the sales transaction for a fee that can be worth it. Selling can be tedious and making sure you cross your t’s and dot your i’s is essential.

Also having the option to flip to full service real estate probably isn’t a bad thing either. Of course you always hope that your home sells using the sell your own home model, in some instances you might need the help of a full service agent to find a buyer.