FSBO listings, which are properties that are for sale by owner, dominate the American real estate market. The number of FSBO sales in the US is rising thanks to the many excellent benefits the model offers like commission cost savings and faster sales. As per a report by the National Association of Realtors, FSBOs accounted for 7% of all the home sales in the US in 2020 among which the homes sold using flat-fee MLS websites made up to 18%.
If you too are someone looking to sell a house or buy one without taking help from a real estate agent, a for sale by owner website is an option worth considering. While an FSBO website with MLS listing integration is the fastest way to increase the exposure of your house listing, you also have single listing sites that offer you a free platform to market your home. The best for sale by owner websites attract a lot of traffic and get your house in front of many buyers and buyer agents.
Plenty of for sale by owner websites gets created every day claiming their service and reach to be the best for selling properties FSBO. To help you cut through the unending list of for sale by owner websites, we’ve filtered out the three best sites to help you with the choice. Find the summary of the FSBO websites as well as their pros and cons in the list below.
What is For Sale By Owner
For Sale by Owner or DIY MLS listing refers to the process by which you can sell your home without the help of a realtor or a broker. If you choose an FSBO transaction, you control the process of your home sale and undertake all the responsibilities associated with it.
In an FSBO sale, you do not pay the full commission to the listing agent, but you do pay the MLS listing fee to the MLS.
What is FSBO MLS listing service?
FSBO MLS listings are known as ‘entry-only’ listings or flat-fee MLS listings. Multiple Listing Service or MLS is a local database accessible to and used by real estate agents to list or buy properties for sale. There are over 600 local MLS’ in the US, which may overlap in coverage. The US Department of Justice legalized flat-fee MLS in 2005 to decrease the practice of traditional listing.
With this kind of listing service, the online brokerage company only helps you get listed on the MLS. You need to list your house on the correct local MLS so that your house listing can be seen by relevant buyers and buyer agents.
Pros and Cons of listing with FSBO
For sale by owner websites can help you save thousands of dollars in listing commissions. Below are some of the pros and cons of listing your house for sale by owner websites.
Pros of listing your house FSBO
- By choosing FSBO, you get full control over your transaction and proceed with the home sale process comparable to an agent.
- Most for sale by owner websites also provide social media sharing features and a customizable yard sign along with the MLS listing option.
- By doing FSBO, you can save the complete listing agent commission. Also, if your buyer is also not taking the help of a real estate agent, you can save the full 6% commission.
- You can list your house on your desired MLS.
- Your house gets the maximum exposure in the home-selling market.
Cons of listing your house FSBO
There are no typical cons of listing your house on sale by owner websites. Just that you are required to share your property’s information on the broker’s website.
The best 3 for sale by owner websites in 2022
Buying and selling a home by yourself can feel like a big task without zeroing in on a good FSBO website. Listed below are the top three real for sale by owner websites you can use to buy or sell your home.
Choose Houzeo for a smooth home buying or selling experience with automated reminders, customizable listings, and video guides that will walk you through every step of the sales process. Houzeo reviews state that the company helps you make complete real estate transactions online. Also, Houzeo integrates your house listing to MLS and other big real estate websites so that your listing gets the required exposure.
Houzeo allows for buyer’s agent commission and lets you control the amount of commission. As you can enable buyer’s agent commission, you can incentivize the buyer agents to show your house listing to potential buyers, and as you can control the amount, you can save what you think you should. The high-tech experience offered by Houzeo is also one of the company’s highlights as per many Houzeo reviews making it one of the best for sale by owner websites in the US.
- Great user experience
- Control over buyer agent’s commission
- Customizable listing options
- Different pricing for different states
- No option to list a property for free
- For Sale By Owner
Forsalebyowner.com is an FSBO website that has been around for over 20 years. It’s one of the oldest FSBO sites in the market. As a result of its excellent Domain Authority developed over time, the longstanding website not only has an outstanding reputation but also enjoys incredible site traffic. The constant traffic at the site ensures that a great number of people view your listings. Again, Forsalebyowner.com offers one of the best listing experiences along with customizable listing options.
However, the houses listed on Forsalebyowner.com are not listed on the MLS so the exposure of your listing will be limited to the site’s traffic alone. Also, unlike Houzeo, Forsalebyowner.com does not let you to allow buyer’s agent commission, which can again limit exposure to your listing as the agents are not incentivized to sell your home.
- Option to customize the listing
- Free basic listing
- Unlimited photos
- Pricey listing support
- Listing not syndicated with MLS
Beycome is an FSBO service available in California, most of the Southeast parts, and a few other states in the US. Its basic, as well as enhanced package, gives you access to MLS. Beycome lets you make unlimited changes to your house listing and offer higher photo limits. But if you are looking for a basic MLS service, you can find other better options.
- Great additional features
- Flexible MLS listing
- Low price
- Available at selected places
Selling your house using a for sale by owner website can be a tedious and time-consuming process but upon accomplishment, it can save you thousands of dollars. If you are looking for a top for sale by owner website, the above three options could help you sell your house with less hassle and at a good price.