FSBOs- For sale by owner. Understandably many folks would like to sell their home without the assistance of a licensed and professional Realtor, to save the commission cost. Considering the magnitude of the transaction compared to most folk’s income it is risky, but it can and will be done. Pricing your home without the benefit of knowing what properties are selling for and only seeing what is for sale is half the story. I sold one house without a Realtor, before I was one, and had so many questions and no one to ask. I paid for an appraisal that was terribly low and if I would have used it, I would have lost $40,000.00 and this was not a million dollar home. Appraisals in the absence of a sales agreement have a tendency be low! But we were cash strapped and had a large mortgage on a home that thankfully had appreciated tremendously and was in a location where I could get good foot traffic without marketing, and my wife and I were able to conduct the showings. Yes a lot of folks want to see, who are not in the market. When we got under contract, $40,000 above my appraisal price, and possibly still low! The closing attorney’s office that held the earnest money, provided us a receipt from Office Depot that did not reference the transaction or the address of the home. Useless? You bet. Realtors, good ones, KNOW your home’s market value, don’t just put your home in the MLS, they KNOW buyers, they KNOW other agents, they spend advertising dollars and professional photos, give advice on staging and cleaning and depersonalizing… you get my drift. The amount of leg work from offer acceptance to closing is more than meets the eye and if not ordered properly can cause you to pay for an appraisal on a home that never makes it out of the inspection contingency. There are lots of stats saying that FSBOs sell for less, and the 80%+ that don’t sell end up in the hands of Realtor down the road. We know we can make stats say what we want, and experts say that one of the underlying reasons FSBOs sell for less is they tend to be sold to family or friends.