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For Sale by Owner Suffolk County, NY

Many homeowners don’t realize the amount of work required to sell a home. “For sale by owners” or FSBO’s are sellers who choose to sell their home on their own. Many sellers don’t know that FSBO’s will end up using a Realtor 88% of the time.

As a home seller, selling on your own may not save you as much money as you think. When you list your home WITHOUT a real estate agent, if a real estate agent finds you a buyer, you still need to pay the agent a fee. You are saving only half the commission fee, and what you save on the fee, you will gain in stress throughout the home selling process. The only true way to sell your home without paying an agent is if you find a buyer on your own. This is harder to do than you think, unless you know someone who already wants to buy your home.

So how does selling your home on your own work?

You will be responsible for setting the selling price and marketing your home. If you don’t know how to set the price properly this will end up costing you money. Set it too high and you will end up lowering it when the market corrects you because no buyers will want to buy it. Set it too low and you are leaving money on the closing table. This is why having an agent from the beginning will set you up for success but if you insist on doing it FSBO read on.

The skill sets you need are being a strong negotiator and marketing the home. Having a yard sign is not enough and you will need to get your home online, since that is where buyers start their home search. You can put your home on websites such as zillow and realtor.com.

Selling on your own also comes with risks so make sure you hire a real estate attorney. While you can try to sell on your own, if you find it overwhelming and difficult, please reach out to me at yvonnevaras.com, as I’m here to help you with the home selling process.

– Yvonne Varas is a Real Estate agent on Long Island, NY
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