Until recently, the entire process of buying and selling of homes occurred almost exclusively through real estate agents who, of course, charged a percentage of the sales price as commission. With two sets of agents ? both buyer’s and seller’s ? taking their cuts, a major portion of the sales price goes into the pocket of the realtors, reducing the overall profits of the owner – and ultimately increasing prices for the buyer.
A seller’s agent is typically responsible for advertising proprieties for sale, holding open houses to show the home to potential buyers, and finally negotiating a deal. Usually a realtor would charge a portion of the sales price as their fees for services rendered. Many homeowners, however, feel that they could also take care of all the responsibilities of closing a deal and selling their property without the help of a realtor. Houses that are put up for sale by the owner with no representation of any realtor are known as FSBO or For Sale By Owner Houses.
By listing your property as, "For Sale By Owner," or FSBO, category you can save thousands of dollars in realtor’s commission. However, it also means more work for you. With no realtor to arrange open houses to show the property to potential buyers, the owner must take care of all these arrangements on their own. It is your responsibility to advertise your home in the best possible light to attract buyers. The first step toward grabbing the attention of buyers and buyers’ agents, involves getting your property listed in your local multiple listing service.
A multiple listing service, or MLS, is a database used by realtors to list every property up for sale in a particular area. Buyers and their agents are known to go through these MLS listings to find the right properties to purchase. How can you get your property listed under FSBO or For Sale By Owner in local MLS listings? This is where flat-fee brokers come in handy. Only realtors can list properties on multiple listing service databases. Flat-fee brokers are realtors who charge one-time-only a fee to list properties in MLS and this service is also known as a flat fee MLS listing service.
If you wish to list your property as FSBO or For Sale By Owner Property, visit www.isellmyhome.ca for more information on how to market your property. This is an exclusive Canadian website launched specifically to facilitate easy FSBO promotion.