When it comes to selling a house, the options available in today’s times can easily overwhelm anyone. Whether it is approaching a traditional full-blown agency, MLS flat fee companies or iBuyers each have their distinctive pros and cons.
For those looking to sell a house on their own without much interference from agents and brokers, the option of “For Sale by Owner” also exists.
FSBO.com is one such company that assists people in selling a house for sale by owner (FSBO) by connecting sellers to a local broker that sells houses on the multiple listing service (MLS) for a fixed charge in addition to holding its own inventory of FSBO listings.
FSBO.com’s MLS service starts from $99.95 and is an alternative worth considering, especially for those homeowners who want to sell their house on their own and are in no rush whatsoever.
Selling FSBO saves sellers money on realtor costs as compared to selling with a regular real estate agent.
However, FSBO is not for everyone as it demands a significant amount of time, money, and effort from the homeowner.
Let’s take a deep dive to better understand whether FSBO.com is for you or not.
More about FSBO.com
Based out of Atlanta, FSBO.com has been around for almost 20 years and is one of the most established For Sale by Owner websites in all of Unites States. FSBO.com works with brokers around the country to provide flat fee MLS (FFMLS) listing services.
FSBO.com provides buyers with a variety of properties which is backed by data gathered from various government organizations, as well as over 100 corporate sellers.
This database is frequently updated to provide interested sellers with the latest properties in the market. The main difference between FSBO.com and ForSaleByOwner.com is that FSBO.com publishes the homes on the MLS.
FSBO.com also provides services to assist FSBO sellers with listing on other prominent home selling sites such as Redfin, Zillow, and their local MLS.
How to Sell Your House on FSBO.com?
Simply follow these steps:
- Choose a Package: There are options to choose between the FSBO.com package and the MLS packages. Choose accordingly and if you’re in a rush to sell your home, it’s better to go with the MLS package which will expose your property to more buyers.
- Time to List: Optimize your listing by uploading high-resolution pictures and videos of your house, including detailed information explaining the best parts of your house, and make it as visually appealing as possible.
- Negotiate With Potential Buyers: Once listed, potential buyers will window shop and will contact you to offer a price. Answer all queries, schedule showings, keep yourself available, and negotiate the offers accordingly.
- Sell: Once you’re convinced that you have received the right offer and are going ahead with it, contact a lawyer to get the paperwork started and set things in motion.
Can You Save on FSBO.com as A Seller?
When you successfully sell your home through FSBO.com, you avoid paying the seller’s agent’s commission, which is normally 2–3 % of the sales price. That’s $3000 on a $100,000 property. While you won’t get the same level of personal attention, the pricing is far lower.
However, if the buyer has an agency, you must still pay the buyer’s agent commission. FSBO.com charges the customary 2–3 % charge.
While FSBO.com may save you money on an MLS listing, your overall take-home pay may be significantly lower than if you hired an agent. According to Collateral Analytics, FSBO properties sell for around 5.5 % less than agent-assisted homes. This effectively doubles the commission savings.
Pros and Cons of Selling on FSBO.com
Pros
Pocket Friendly
Selling through FSBO.com is a pocket-friendly option because the Listing Agent’s Commission (3 % of the sale price) is eliminated. Many FSBO.com reviews emphasize the ability to save money on commissions.
Intuitive Platform
FSBO.com features a straightforward, user-friendly site that allows sellers to navigate easily. Considering the site is over 20 years old, creating a house listing and adding pertinent information is simple. Several FSBO.com reviews have mentioned how clumsy the UX feels. The house selling or buying process is already tough, so why confuse it further by adding a super-technical user interface on FSBO platforms?
Cons
Attracts Lowballing Buyers
People seeking FSBO houses to buy may be looking for a good offer. This is especially true on FSBO.com, which has a separate area dedicated to foreclosed houses. If you want top dollar for your home and don’t want to sell to an investor or cash buyer, listing on FSBO.com may not be worth it.
Hidden Fees
The regional broker used by FSBO.com for your MLS listing may levy fees in addition to the $399.95 amount displayed on the company’s web page. Brokers in different states provide a variety of add-on services at varying fees.
Inefficient Automation
With almost little automation, FSBO.com will collect your information and have you rushing around for documentation. A first-time seller’s home-selling process might be difficult due to its offline broker management and lack of downloading tools.
Unstable Broker Quality
With almost little automation, FSBO.com will collect your information and have you rushing around for documentation. A first-time seller’s home-selling process might be difficult due to its offline broker management and lack of downloading tools.
Poor Visibility
The $99.95 bundle only advertises the house on the FSBO.com website, not any MLS. When using local MLS services directly, this limits the visibility of the home. This bundle is non-refundable and is unlikely to be beneficial to home sellers.
Is FSBO.com A Right Fit For You?
The harsh truth is that FSBO.com is an obsolete platform and provides minimal value with its standard package, despite its ease of use.
It simply offers your property to a small group of people. It is great for those sellers who know what they want, don’t need to be handheld along the way, and have lots of time on their hands. According to FSBO.com reviews, FSBO works differently for each seller.
FSBO.com’s MLS bundle doesn’t make a strong case either. With independent real estate brokers all around the country, the organization can’t guarantee a positive experience for each of its sellers.
Other services, such as contract reviews, scheduling showings, and arranging open houses, are not provided by FSBO.com, making it an extra price for the homeowner.
Fortunately, FSBO.com isn’t the only Flat-Fee MLS service and there is a better alternative available in the market that helps you save money when selling your home as an owner.
What Is The Better Alternative?
While there are several companies that are better than FSBO.com, one of the most tech-savvy and customer-centric companies is Houzeo. You can check out Houzeo reviews on various review websites to verify this claim yourself.
You may advertise your home as an owner on Houzeo and speed up the closing process. Since everything is done online, you won’t have to bother about cumbersome processes.
Houzeo performs various processes that would otherwise require manual involvement and supports you in putting your home on the Multiple Listing Service (MLS) for a single price also known as Flat Fee MLS.
Another key aspect is that platforms like Houzeo are lowering real estate agent commissions. This is primarily owing to the popularity of the flat-fee MLS system in recent years.
Lastly, Houzeo does not have any hidden fees whatsoever. All the expenses you will incur as a seller are transparently laid down for you on their website.
