Seller Information

Nearly one in four homeowners currently chooses to sell their home without a broker.

Here is an example of how much money you, as a seller, can save using the FSBO method:

With real estate commissions as high as seven percent of the selling price the average homeowner takes a beating when listing with a broker. The median home sale price in Cumberland County is approximately $255,000.

Suppose you’re selling a $255,000 home on which you owe $200,000. You expect to realize $55,000 in equity.

255,000

- selling price

-200,000

- left on mortgage

55,000

- equity

Of course, if you list with a broker who charges six percent commission he’ll take it off your selling price, not your equity. You’ll pay $15,300 in commission.

255,000

- selling price

x 0.06

- 6% commission

15,300

- commission cost

Now your equity is $39,700 and you haven’t paid your closing costs!

15,300

- broker's® commission

÷ 55,000

- initial equity

0.28

- broker's® percentage of your equity

Your broker® just walked away with 28% of your equity!

In the past, the real estate industry very effectively limited access to the home selling market through the Multiple Listing Service (MLS). This allowed them to drive commissions up to a very high level. However, with the emergence of the internet as a marketing medium, the real estate monopoly is quickly deteriorating as the public increasingly turns to FSBO sales.

Many people are realizing that selling their own home to save the commission is a very realistic and sensible option. Adding up all the financial costs of selling on your own (i.e. signage, advertising, etc.) is typically less than $1,000, a small fraction of the typical commission fee.

There are many sources of information for selling your home on your own. There are many good books on selling your home which include extensive information on FSBO sales. Check out the FSBO Resources links and consider listing your property on FSBO Greater Portland .

10 Steps to Selling FSBO Successfully