The real estate market in Florida is lately seeing a boom. The home prices in the state have increased close to 30% in the past year alone to reach an average sale price of USD 330,000. With increased selling prices of homes, the opportunity to save more commission is also high. By using the services for sale by owner companies, you can save up to USD 20,000 in agent commissions while selling your home. Isn’t that a proposition worth paying attention to? Read on.
Table of Contents
FSBO vs real estate agents
While FSBO can save you much on agent commissions, it requires a lot of effort on your part. Also, even while selling your home FSBO, you have to pay certain associated costs like the cost to list on MLS for a flat fee, closing costs, etc. Only when you sell to companies that buy homes in Florida is when you don’t have to take care of many selling charges but you are offered an amount lower than your home’s market price.
Generally, the costs that you incur while selling your FSBO are less compared to the traditional agent commission. And companies that buy homes in Florida offer you around half of what your house is worth and so are out of the question.
Know comparisons between selling home FSBO vs selling it with the help of real estate agents below to choose between the two:
- When you sell with the help of a traditional agent, you typically pay 2.5 to 3% of your home’s sale price as a commission just to your listing agent. So, for a USD 330,000 home, your listing agent would walk away with close to USD 9,000. That’s a lot of cash and so selling home FSBO could seem more lucrative.
- When selling your home FSBO, you cut money on listing agent commission altogether but you are still needed to pay the standard 2.5 to 3% buyer’s agent commission as most buyers work with a buyer agent.
- Another important consideration is what would your house sell for when you sell it FSBO. Generally, FSBO homes sell for less than agented homes. So, if you choose the FSBO route, you must be willing to give your 100% and price your home right in order to make that saving.
Pros and cons of selling your house using FSBO companies
When selling your home FSBO, you have some of the best websites for FSBO. Below are the pros and cons of selling your home using one of the best websites for FSBO:
Pros of selling house FSBO:
- You save big on commission: As per the data, on average, each home seller spends a whopping USD 18,700 on real estate commission! And when you sell your house on your own, you can save around USD 9,000 as you don’t have to pay commission to your listing agent. And boy, isn’t that a big amount!
- You are on the market in a couple of days: Those times are gone when you had to hunt for a real estate agent to start the selling process of your house. Some of the best for sale by owner companies like Houzeo can get your house listed within a couple of days or even faster. Moreover, you can start your home sale process as per your wish, whenever you are ready.
- You have full control over the transaction: It is you who’d be getting in touch with the buyers or buyer agents and not some third party. We reduced intermediaries, you control the transaction, which even quickens the process.
Cons of selling house FSBO:
- You are on your own: The thing that you are starting out to do—selling your home—is a big thing to do. You’d have a lot of work and need crazy help with inspections, paperwork, closing, negotiations, etc. And there won’t be any professional realtor to help you with the same. When selling with a for sale by owner company, you’ll be solely responsible for every part of the process even when you are not ready for it.
Less exposure in case you don’t list on MLS for flat fee: There are two ways in which you can sell your house FSBO: using for sale by owner company or using flat fee MLS websites like Houzeo. In case you choose the first option, your house isn’t going to get much visibility as the buyer agents are all on MLS. With limited exposure, there will be limited competition for your property, which can even reduce the selling price of your home. So, it’s better to list on MLS for flat fee to help you sell your home FSBO.
List of the top for sale by owner companies in Florida
Below is the list of the top for sale by owner companies in Florida:
Houzeo is the #1 US real estate company with numerous 5-star reviews under its belt. If you want the best combination of savings, technology, listing exposure, and customer support, sell your house with Houzeo.
Its bronze package is available at USD 299 and helps you with selling as your listing gets syndicated to Trulia, Zillow, Redfin, Realtor, etc. sites apart from your local MLS. The silver package from Houzeo is USD 349 and includes many things that you might be looking for. The gold package goes a step higher and includes all the tech-heavy services Houzeo is famous for like Houzeo Offers, DigiTransact, and Houzeo Showings. The platinum package available at USD 1,200 is without a doubt the best. It offers you the service of a licensed broker to help you with disclosures, negotiations, and closing.
As per us, their gold plan offers the best value as you get access to Houzeo tech plus can manage showings and get offers on negotiations.
Homecoin is another flat fee MLS platform offering its services in around ten US states and registered in San Diego, California. Homecoin offers you an affordable FSBO listing option. But the online dashboard that they offer is outdated making the FSBO listing paperwork even more complex. Homecoin offers only one kind of flat fee MLS listing package at USD 95 and other charges. You can get your home listed for a year and make ten changes free of charge. You can upload as many photos as you want to and get a free email forwarding and free call service.
Selling your home using Homecoin services can be expensive as they charge heavily for their extra services. Homecoin even charges extra fees in FSBO transactions that range from USD 450 to USD 2,999.
beycome is another good tech-heavy company that lists on MLS for a flat fee. beycome has got some good reviews online, so its customer service is better than many other companies.
The basic package of beycome comes at USD 99 which allows you to upload as many pictures as you want on the MLS and even make unlimited changes to the listing. Other free things include free disclosures and legal forms, a free tool to manage home visits, and a free open house scheduler.
The enhanced package of beycome is available at USD 399 and comes with all the features of the basic package plus a yard sign, flyers and brochures, a listing on beycome’s website, and a key lockbox. You even get the option to add a virtual tour of your home to your listing with this package.
They also offer something called concierge service at USD 599 + 1% commission. The virtual full-service package offers you assistance till closing. Beycome offers good tech support at reasonable prices but has limited coverage.
Florida is definitely a hot market with homes quickly getting sold and that too at high prices. The thing for you to do is choose one of the good, tech-advanced flat fee MLS for sale by owner companies to sell your house and generate maximum savings in the process. Make sure you only choose the best company that lists on MLS for a flat fee to make your home sale effective, cost-friendly and easy.