Before we go any further, understand it is not lost on us that a post by a REALTOR®about For-Sale-by-Owner (FSBO) homes is like a cow talking about the benefits of eating more chicken. We get the inherent bias.
There are no "standard" real estate agent fees that can be charged by an agent or broker, and real estate commission rates are split between the listing agent and the agent or broker that brings the buyer to the transaction.
You could build your house too, if you really wanted to. The information is out there for sure. But the time, energy and effort it would take you to accomplish something an experienced builder already knows how to do, doesn't make it worth your time.
Same goes for selling your home. The complexity of real estate transactions is increasing. Changing regulations and fluctuating markets have made real estate a logistical minefield, and one misstep can put you in all kinds of trouble - legal, financial, (emotional, if you include the stress factor).
o Getting the right price: 12%
o Understanding and performing paperwork: 11%
In addition, the survey found that 22% of FSBO eventually decided to use a REALTOR to try to sell their home. More than half of those who did were then able to sell their homes too, the survey found.
But first, do your research. Talk to other people who have both successfully and unsuccessfully attempted FSBO. Talk to a real estate professional, talk to a mortgage broker, lawyer and lender for their opinions - it's no skin off their back whether you choose to use a REALTOR or not. Bottom line:Get the whole story, including all of the grains of salt so you have a flavor for what you are about to take on. And also so you don't bite off more than you can chew.