If you’re willing to put in a bit more effort to prepare and market your home, you can sell your home yourself (or For Sale By Owner) without spending a lot of money on real estate commission fees, major home improvements, or expensive listing services. However, it’s almost impossible to sell your home in Denver, Belmont, or another Lake Norman-area community unless you advertise it online, which is where “flat fee listing” — putting your home on the MLS for a flat fee — comes in.
FSBO vs. Flat Fee Listing Differences Explained
Going FSBO means you, rather than a real estate agent, are in charge of all your marketing, which includes the “For Sale By Owner” sign, and all of the steps in the home selling process. Listing a home for a flat fee means you’re in charge of most of your marketing, but you have some help from a real estate agent. Here are a few of the major differences between the two.
Marketing Your Home
- FSBO: You don’t have access to the MLS, but you can market your home on other online sites like Craigslist and newspaper classifieds. However, the scope of potential buyers is limited.
- Flat Fee: You have access to the MLS by paying an agent a flat fee. Since the MLS is where most buyers find homes online, the scope of potential buyers for your home is broad.
Interacting with an Agent
- FSBO: You don’t receive any advice, resources, or help with selling your home from a real estate agent.
- Flat Fee: You interact with the agent who lists your home on the MLS and you also have access to a few real estate resources, but you don’t receive any advice or help with selling your home unless you want it.
Mistakes You Can Make
- FSBO: There are several sale-killing mistakes you can make when selling your home yourself, including not having a marketing plan, undervaluing your home when guessing a price, not responding quickly to buyers, and not disclosing certain issues about your home.
- Flat Fee: Choosing the wrong real estate agent is one of the biggest mistakes homeowners can make, especially when listing your home for a flat fee. Carefully research an agent’s qualifications and experience, as well as testimonials.
Amount of Money Spent
- FSBO: You may end up having to pay to have a professional appraisal to figure out the right price for your home, pay to have a lawyer help you make negotiations or ensure your disclosures and contracts are correct, or pay to advertise your listing on home selling sites like Owners.com.
- Flat Fee: If you list your home with me, Michael White, you just pay the flat fee to list your home. My flat fee listing services include free advice about home staging, value-boosting home improvements, recent sales, and a home evaluation.
Interested in selling your home for a flat fee instead of trying to do it all by yourself? Read these flat fee listing FAQs to learn more about the process and what kind of marketing services are included, or call me at 704-902-6755 to get started.