The Pros and Cons of For Sale By Owner (FSBO)

Explore the benefits and drawbacks of selling your home on your own

The experience of selling your home can vary considerably. The path you chose can determine how much you earn, how much time you spend and how stressful the process is. Many homeowners choose to sell by working with an agent. Homeowners that want more control and savings may choose to sell on their own through FSBO – For Sale By Owner.

Is FSBO the right choice for you?

Pros

  • Save on the agent commissions. Usually sellers pay 5-6% of the home sale price in commission. If you sell the home yourself, you save on this cost.
  • Gain control of the process. You can choose everything from the photographer to tour times to details on the listing. Having this level of control can help you personalize the experience to your liking.

Cons

  • Minimize your effort. Most agents have been selling homes for years and therefore have significant knowledge and expertise. By working with an agent you get access to years of learnings.
  • Gain leverage in negotiation. It's unlikely that you are better versed in negotiation than your agent who negotiates as part of his or her day-to-day job. Leaving negotiation to your agent can help minimize discomfort and stress in the home sale process.
  • Valuing your own home is hard. Agents have access to many tools that they can use to determine a fair price for your home, free of any bias you may bring to the process.