10 Questions to Ask Yourself Before Listing For Sale by Owner (FSBO)

Listing your own home as a For Sale By Owner (FSBO) is a mighty attractive option when you consider most real estate agents charge a six percent commission. Why not save that six percent and roll it into your profits? After all, there are plenty of FSBO Web sites that, for a nominal fee, give your home online exposure. Add in the cost of a $20 sign for the front yard and a bit more for a classified listing in your local newspaper, and you've potentially saved a whole heap of money.

Before you take that plunge as a novice realtor, ask yourself these 10 questions. You may find you are not prepared to go it alone.


• "What paperwork do I need?" There are volumes upon volumes of forms, titles, and certificates required for the sale of a home.
• "How knowledgeable am I about state law?"From termites to leaky roofs, disclosure requirements change from state to state.
• "How will I set my asking price? Can I be unbiased during this process?" You love your home and perhaps invested money in it over the years. However, market value is market value.
• "How will I screen for serious buyers that can afford to buy my home?"
• "How available am I for showings?"
• "Do I know a good real estate lawyer?" How about an appraiser, home inspector, or termite inspector?
• "Did I add up all the expenses related to selling my home?"
• "Can my credit rating can be ruined by a buyer's default?"
• "Am I well versed in home loans?"
• "Why get into this mess? Am I up for all the paperwork, the legal liability, the showings, multiple fees, and quite frankly, the headaches?"

Sometimes what seems so easy can actually take a lot of time, money, and perseverance. Using a Realtor(r) or a homebuying company may be the way to go.