There has been a steady rise in the commission the real estate agents pocket from each of the transaction. It can vary from 5% to 10% of the deal, which in real terms can substantial, considering the high cost of house these days. Due to this, many home owners gear up to sell their homes themselves. This trend of home for sell by owner (FSBO), has grown to such a proportion that almost one-fourth of the sales of home are done FSBO.

But, while this may seem an alluring option to most, there are certain pitfalls in it. Awareness of the intricacies of the home buying/selling market and a systematic approach is imperative to sell your home FSBO. You should be able to gather all the requisite information concerning it and do a pragmatic evaluation with regard to your ability and the kind of effort you can put in to succeed. So, before jumping into the fray for selling your home FSBO, make an honest assessment of your capability taking into account the following aspects –

v  Your emotional attachment – Your affinity towards your home is of course, special beyond any measure. It could be the place, where you spent your endearing childhood days and witnessed the different renovations and decorations from time to time. So, while going through the process of selling your home FSBO, this might in fact, be a handicap for you and might influence in your decision-making.

v  The time and motivation – If you happen to have a regular job, it might be difficult for you to allocate time and effort in order to find out and contact the prospective buyers. Selling your home FSBO means, you must be accessible to them all the time; otherwise there is the likelihood that you might miss out some worthy buyers. 

v  Mortgage option – In the present time, most home buyers want to avail the mortgage option for financing the purchase. The real estate agents normally facilitate such deals as they have the contacts, which you may have.

v  The necessary skills – Making good business deals with prospective buyer require certain amount of skills. When you sell your home FSBO, at times, many buyers perceive it as a bargaining opportunity. You should have the capability to impress upon the buyers to pull out a successful deal, which is beneficial to you.

v  Lastly, a thorough awareness of the whole gamut of procedures and associated paperwork is a must. You also need to have good contacts to hire the services of the professionals like attorney, closing officer, Escrow Company etc.

If you are confident that you possess the above qualities and contacts, then you may try to sell your home the ‘for sell by owner’ (FSBO) way.

There is a lot of free information available to you about buying, selling or investing in Columbia South Carolina real estate. For complete information about the  Columbia South Carolina real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Columbia South Carolina real estate. So please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 803-622-9731 or email me at sales@greatercolumbiahomes.com.