Well, I’ve got good news! There are other alternatives that can save you potentially thousands of dollars, even tens of thousands of dollars. Remember, Realtors make money as a percentage of your purchase price (often 6%), which can add up fast.
Here are a few of your other options:
- Consult with a family member or friend who has done a FSBO transaction before. They can guide you through the process.
- Call a local Title Company and they'll be glad to help because they make money when they close the transaction. They'll often give you the standard forms to use along with some tips on which sections to pay attention to.
- If you want to spend a few hundred bucks to make sure everything is exactly right (which I recommend), hire a real estate attorney. They'll help you fill it out. You'll still save thousands this way!
- Offer your Realtor friend a flat fee to help you fill out your contract. Since you’ll be handling the rest of the transaction yourself, they’ll probably be glad to help you for a small fee, maybe even free. Plus, they know you may tell your friends about their kind gesture and some of your friends may end up using them as their Realtor one day. Win/win!
Definitely don’t let contracts intimidate you or keep you from selling your home by owner.
Since you’re likely reading this because you’re wanting to make extra money to support your ministry, this is one way to make thousands without much effort! And since many people sell their home every 3-5 years, you’ll be making thousands this way over and over again!
*Note: If you struggle to sell your home by owner and think the MLS (Multiple Listing Service where properties are listed by Realtors) will help you, make sure to find a Discount Broker who will charge you a flat fee, like $500, to list your house. That way you only pay $500 + 3% to the buyer's broker. Rather than 3% to seller's broker + 3% to buyer's broker = 6%. This alone will likely save you thousands if you go the Realtor route.