Some homeowners choose to sell their homes on their own, without the assistance of a real estate agent, to have more autonomy over the entire process and avoid the additional costs associated with a 6% commission fee. If you’re considering this option, it’s important to understand how the process works in Minnesota and the best practices for doing it successfully. This guide will provide you with everything you need to know about Minnesota FSBO:
The basics
For Sale By Owner (FSBO) is a method of selling a home without involving a listing agent. In this scenario, all the responsibilities and tasks that would normally be left to a real estate agent are left to you. That means you will handle everything from the pricing to negotiations, showings, and marketing. However, it lets you avoid paying the agent commission fee, which is around 6% of your home’s sale price.
Minnesota FSBO is also commonly practiced by homeowners looking to sell their homes directly to a buyer without a real estate agent facilitating the sale or serving as the middleman. Plus, it allows them to be fully in charge and oversee the sale as they please.
How to sell your house via FSBO
FSBO involves the following steps:
- Prepare the house
- Research to find the most competitive price
- Take photos of the house
- Write a compelling and detailed listing
- List the house online
- Do some marketing
- Conduct showings
- Review the offers and prepare to negotiate deals
- Get a professional to close the sale
Some tips to make it work
Like any selling process, Minnesota FSBOcomes with a few risks that could make you miss out on opportunities to find the best buyers. These include underpricing and overpricing and not being able to post your home on the local MLS.
However, you can boost your success rates with FSBO by working with a flat-fee MLS listing agent. Only licensed real estate agents can access the MLS, so be sure to find one near you!
Allow us to help
As licensed real estate professionals, we at Real Estate Corners are qualified to help you save money and time with Minnesota FSBO through our flat-fee MLS services. Call us to learn more about our packages!
