For Sale by Owner Reviews
For Sale by Owner Claim: As a money saving and excellent flipping opportunity, ForSaleByOwner.com (FSBO) has been the country’s leading for sale by owner service since 1999. In addition to the property exposure of MLS and other advertisements, FSBO property listings receive over 2 million monthly visitors. Average FSBO users have saved roughly $13,000 on the sale of their homes, which also allows buyers to reap lower sales prices. On a $350,000 property, you will save $21,000 in real estate commission fees. You’ll notice more flexibility in pricing as a huge chunk of profits are not going in the real estate agent’s pockets. Cut out the middleman and relieve yourself of persons that are presumably looking out for your best interest, but really only care about their paycheck. The most complicated and difficult part of a real estate transaction is handled by a title or escrow company, real estate agents have no real role other than middleman. With FSBO, both parties will also have less hassle dealing with showings and phone calls as you are the primary points of contact in all matters with the property. Who better to sell a house than the person who has lived there and knows the intimate details of the property and surrounding neighborhood? ForSalebyOwner.com has saved real estate buyers and sellers more than one billion dollars by providing; premium Internet and offline marketing services; real estate guidance and information through a free e-book “The Complete Guide To Buying and Selling Your Own Home” and an informative education center; downloadable state specific real estate forms for all property transactions; and recommendations on real estate attorneys, professional appraisers, and title companies.
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For Sale by Owner Editorial Review
ForSalebyOwner.com queued for review by a MoneyStance Editor.
For Sale by Owner Independent Reviews
Eve Line review
"In the end, the fee that I paid to forsalebyowner.com was much cheaper. If I had known it was going to be such a success, I would have skip all the other advertisements."
Realestatelistingreviews
"Our experience with FSBO was top notch! Our listing always looked great and we sold our house (in the worst of markets) in 6 weeks."
A comparison of three FSBO services
"We found…ForeSalebyOwner.com to be the most established and trusted among current online user reviews of FSBO websites."
Measuredup review
"...after a month with MLS it became obvious that selling a high end waterfront home yourself rather than with a licensed realtor was impossible. "
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For Sale by Owner User Reviews
User Reviews are posted in the comments below. You may post reviews anonymously, but to officially rate FSBO and receive contributor rewards, please register.
Discuss ForSalebyOwner.com and other means of making or saving money in real estate.
Overall Score................9.3
Club Videos...................10
Quick Money Blueprints....10
60 Second Guides............9
Turnkey Products............9
Additional Club Features..10
Income Potential............10
Proximity to Claim............8
Legitimacy....................10
Cost vs Value.................8
Ease of Use....................9
Pros: Monthly updates, many informative HD videos, a huge resource, quality content, covers every aspect of making money online, many products for resale, great step by step processes, 24/7 support center
Cons: Lots of hype and additional offers, where are the forums and community interaction, reoccurring membership fee
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I listed my house, including the MLS listing, and it did sell in the worst of markets. It was a house that was very expensive, and in a neighborhood where there were no comps to justify the high asking price because of its size. I think that we got our buyer more because of "drive by" than because of the forsalebyowner listing, but it was good to have the online listing for the buyers to get more info. In the end, I can say for sure that I'm glad I didn't waste money on a realtor.
Congratulations, a few folks have emailed me about similar situations. It seems that sellers are able to offer a better price to buyers with FSBO because they don’t have to give 6+% over to a realtor. That makes a big difference now with so many short sales on the market, and it allows sellers to out price the competition.
Bouch,
Great in theory but lousy in practicality. Your assumption that sellers offer a better price to buyers because they don't have to pay 6% to a Realtor is ridiculous!
As a real estate agent, based on experience, sellers, whether they use an agent or not are greedy. Most sellers believe, based on the emotional attachment, that their home is worth MUCH more than it really is. To be fair, maybe I should not call them greedy, only clouded by emotional attachment. I'd be willing to BET that if I did CMA's on each forsalebyowner home, I would find that nearly all are overpriced by 10-20% or more.
The home still has to appraise out and with recent tightening of lender requirements that is a challenge.
I'd also be interested to see Forsalebyowner.com's stats for days on the market and list/sales price. But, I'm sure they don't keep those.
Do you really think that sellers pass along the savings of not hiring a real estate agent along to the buyer?
I would inagine that many sellers that use forsalebyowner.com have not been in their homes long enough to have built the equity required to be able to pay a real estate professional. Thus, they can't afford one. Not saying anything about the legal process that has to occur during a real estate transaction to closure.
While Realtors are not lawyers, as an real estate professional, I tend to equate FSBO's to those who decide to represent themselves in court. As the old saying goes, he who does so has a fool for a client.
I would be interested to see forsalebyowner.com's contractual agreement. I'd be willing to bet there is a HUGE section in it that absolves them from ANY litigation based upon performance or representation.
Thanks for your insight. Although I don’t agree with all your points, you make a compelling argument. Not all sellers are emotionally attached to a property and therefore inflate the price. Market value is market value…the offers will speak for themselves. Whether a real estate agent or owner sell the property, the owner is only going to get what its worth, but the profits will be 6% greater.
I understand your harsh stance towards the FSBO service as it is a direct impact to your career. However, I can’t entirely agree that selling real estate is as complicated as representing yourself in court. Owners with any sort of salesmen types skills should be able to handle marketing and showing the property while FSBO handles all the things realtors have access to (MLS, Forms, etc…).
I will concede that a realtor’s experience has value, especially with more difficult investment properties, such as apartment buildings and commercial property. With a realtor, there is also a great benefit in time savings, and you only pay if there is a sale. With FSBO, you’re paying regardless and investing lots of time. You just have to compare the value of each with your situation.
I recently purchased a package from ForSaleByOwner.com and have had the worst experience with them. They falsely advertise their MLS package...you will be required to sign an exclusive agreement with a Realtor! Also the agreement has several requirements that we found unacceptable. This was all emailed to me AFTER they took my money. When I called for a refund, they ignore me. Their customer service takes over a week to respond and refuse to address actual concerns and questions. Their signs are terrible! You are better off buying signs at Lowe's. In my opinion they are preying on people who cannot afford to pay a Realtor in these economic conditions. It is a scam and I would warn anyone to stay away from this business.