Home prices have skyrocketed since 2020 thanks to younger homeowners entering the market, more employees working from home, and record-low mortgage rates.
This increase in home value has led many homeowners to sell—but not all of them want to use a real estate agent. Whether it’s the cost savings that comes from listing without a realtor or the ease of marketing your own home thanks to online listing sites and other online real estate resources, for-sale-by-owner (FSBO) listings may be a viable option for some homeowners.
Before preparing to sell your own home, take some time to think things through and do a bit of research. To help, using various online real estate and financial sites, UpNest compiled a list of 10 things you may want to consider if you are selling a home by yourself.
Just 8% of home sales in 2020 were FSBO listings, according to the National Association of Realtors (NAR) Profile of Home Buyers survey from that year. Part of the reason for the low percentage is that FSBO listings can be difficult to navigate. They require a significant amount of time and effort between coordinating showings, determining a market-correct listing price, and accessing marketing opportunities on the Multiple Listing Service (MLS) in your area. NAR also found that the two most difficult tasks in FSBO listings, according to respondents, were preparing and fixing up the home to sell and understanding and performing paperwork.
Keep reading to determine whether an FSBO listing is the right choice for you and for tips on getting your home from listed to sold.
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