The reality of a For Sale By Owner home sale in the MLS is that they work. They work because the MLS is a monopoly and it is an extremely efficient marketplace to sell properties. Did we mention it was a monopoly? In practical terms that means that 90% or more of the residential homes that are sold in any given county start as an MLS listing.
What’s the catch? Well with FSBO you do all the work to price, take calls, show the property, and line up the marketing collateral. And while you do save the typical 3% listing feel in the do it yourself model, you typically pay a 3% buyers agent commission as part of the package.
That means that for only half the price of a normal listing, you do all the work.
And the dirty little secret of hte FSBO industry has always been, they make money on the unrepresented buyers that call up to buy by helping them do that for 3% or by referring the leads to buyers agents.