There are many things to consider when putting your house on the market. One of the first decisions you must make is whether or not to use a real estate broker.
While many people choose to work with a broker, it is not a legal requirement. You may put your home on the market for sale by owner. There are advantages and disadvantages to this choice.
Pro: You save on commission fees
In 2021, the average realtor commission in Oregon was 5.19%. If you sell without an agent, you will likely still need to pay a commission to the buyer’s agent, but you can save about half of the usual fees.
Con: Your home might sell for less
Realtors have insider information about the housing market that they use to determine your listing price and negotiate with potential buyers. Without this information, you must set your price based on publicly available information, which can be difficult.
Pro: You have more control
When you sell FSBO, you have control over all aspects of the selling process, including price, where and how you market your home and to whom you sell it. Having control over staging and showings can be convenient if you are living in your home while it is on the market.
Con: It can be time-consuming
Selling FSBO is time- and labor-intensive. You are responsible for preparing and listing your home and negotiating with potential buyers. When negotiating, you must consider not only the monetary offer but also contingencies. You may need a lawyer’s help to ensure a smooth transaction.
Selling your home without a broker can help you save money and maintain control over the process. Before you proceed, weigh the pros and cons to decide whether selling FSBO is right for you.
