What is a FSBO Business?
FSBO stands for For Sale By Owner. Most commonly used in the housing business when a home owner will sell their house FSBO (For Sale By Owner). The FSBO seller will take all responsibility of marketing, legal and showing work of selling their home by themselves. The opposite of FSBO is to pay a real estate agent to handle these duties, which can cost around 7% of the sales price.
Here are the 3 most important items of selling any home, especially a fsbo home.
1)Location. Location. Location. Is your fsbo house in the right location? Unfortunately there is not much that can be done about your location. In my years of fsbo business experience, I have seen beautiful homes sit and sit because of location. Whereas ugly homes in the best locations will sell as soon as the hit the market. See #3 on how to help sell your home in an undesirable location.
2)Price. Setting the correct price, this is the hardest part for any home seller. Most fsbo businesses are not licensed agents, therefore cannot help their client with the pricing of their home. However, most fsbo home sellers can research existing home listings and sales by using the internet. Check out your local real estate agents web site to see what homes are selling for in your size and location. The actives are your competition. Check your county assessor’s page for sold homes; these are sellers who have already sold their home. What price did it take to sell theirs and how does your home compare?
3)Exposure. If buyers are not finding your house, it becomes impossible to sell. A good fsbo business will expose your home to multiple real estate websites, have social media capabilities, and have thousands of visits to its main fsbo website. In this internet age, getting your home on a fsbo website is the most important item you can do.
We appreciate you reading this article and want you to know that FSBOFox is in the fsbo business. In addition to 8 fsbo markets in the Midwest to help you advertise your home fsbo, we also offer small business owners fsbo website design, a fsbo website specific to your market. These small business opportunities are available under our fsbo license program, similar to a fsbo franchise.
More information can be found here…
Thank you for reading about what is a fsbo business.