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For Sale By Owner saves money? Reasons why FSBOs end up hiring a Realtor
I am a Realtor. I sell real estate. I can certainly understand a home seller's reasons for wanting tosave a commission expense. We all like to save money.
While commission rates are negotiable, in NW Wisconsin you are likely to pay 6-7% commission on the sale of your property. On a $200,000 home a 6% commission is $12,000. That's a chunk of change.
Selling a for sale by owner (FSBO) is not a simple task and that is why most home owners hire a Realtor to get the job done. Nationally the success rate of a FSBO is very low. More than 80% of all FSBOs end up hiring a Realtor after unsuccessfully trying to sell on their own.
There are many reasons why selling For Sale by Owner (FSBO) is a difficult task to pull off.
#1 - The wrong listing price
Whether selling FSBO or with a Realtor, pricing is the first and most critical factor. If your home is not priced correctly you are not likely to sell for the highest possible price. More than 75% of marketing a home is about the price. Overpricing a home makes it almost impossible to sell.
Choosing the right price involves thorough research of similar properties that have ... more

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