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Which is the best option for buying a home: using an FSBO (For Sale By Owner), Real Estate websites like Redfin, or working with a traditional real estate agent?
According to a study by Clever Real Estate, the typical FSBO home sells for close to $100,000 less than a sale through a realtor.
FSBO sellers often spend a significant amount of time and effort to sell their homes, and results are often negative to mixed.
FSBO sellers should consider listing their property on the MLS, and can pay a flat fee to do so.
Redfin does not show FSBO listings, as its primary data source is the Multiple Listing Service (MLS).
Only 11% of sellers end up selling their home without a real estate agent, according to Zillow.
The top reasons for selling FSBO are to save money (49%) and feeling confident in selling without an agent (35%).
FSBO sellers can list their home online on various websites, which typically charge a flat rate plus the cost of additional services.
A study by Clever Real Estate found that homes sold with a realtor earned their owners an average profit of $189,127, or $46,603 more than homes sold without an agent.
Licensed real estate agents are the only ones who can list homes on the MLS.
Redfin provides a possible buyer's agent to represent the buyer when viewing FSBO homes.
FSBO sellers should consider listing their property on free FSBO websites for more online exposure.
Redfin's customer service provides support for FSBO sellers, and the company has a section dedicated to FSBO customers.
FSBO sellers typically spend less time on the market than agent-assisted sales.
A flat fee MLS service allows FSBO sellers to list their property on the local MLS, making it visible to more buyers.
According to Redfin, FSBO sellers can schedule a tour of a home, and Redfin Agents or a Redfin Partner Agent can contact the owner and help facilitate the viewing.
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