For Sale By Owner vs. Abode1: What Are the Key Differences?

The process of selling a house has changed dramatically over the years. Today, many sellers decide to forego the assistance of a realtor, instead opting to list their properties as “For Sale By Owner” or “FSBO.”

If you’re considering selling your house yourself, you will need to complete all of the essential selling processes without the help of a professional. These include marketing your home online, taking professional photos, determining a suitable listing price, and completing the closing contracts.

Alternatively, many Miami-Dade sellers who want to take the realtor (and their commission) out of their selling process turn to Abode1 as their best solution. At Abode1, we provide the virtual professional assistance you need throughout the selling process at a flat 1% fee.

If you’re unsure whether to sell your home yourself or use our virtual broker services, read on to learn the critical differences between these two selling methods.

Critical Differences Between FSBO and Abode1

FSBO: Inexperienced Marketing Efforts

Abode1: High-Quality Marketing Materials

Marketing is an essential process when attempting to sell your home. Sharing information about your property in the most appealing light is what will set your house apart from the dozens of other sellers in your area, leading your home to sell faster.

However, unless you are a marketing expert, you may struggle to compete with the professional marketing materials other sellers are releasing into the market. At Abode1, we can handle the entire marketing process for you with our marketing experience and expertise.

When you work with our team, we will provide you with:

  • Professional photos
  • Floor plans
  • Virtual video tours
  • A yard sign
  • 100 color brochures
  • Professional online listings

Each of these marketing tools will help you stay competitive in the dynamic Miami-Dade real estate market.

FSBO: No MLS Listing

Abode1: Maximum Exposure Through MLS Property Listings

Multiple Listing Services (MLS) is the professional real estate listing platform that prominent realtors use to list their clients’ properties. This industry-standard listing tool is the number one source for connecting buyers and sellers and facilitating property sales.

Unfortunately, homes for sale by owners cannot appear on the MLS. Only licensed real estate professionals can gain access to this database and post listings.

However, when you work with Abode1, we will place your house on the MLS as part of our marketing process. Doing so will open the door for more buyers to see your home as your home will be linked to all the most powerful websites, such as Zillow, Trulia, Realtor.com and many more, thus creating a faster and more reliable selling process.

FSBO: Standard Real Estate Commission to the Buyer’s Broker May Apply

In traditional real estate transactions, a seller typically pays a 6% commission, based on the home’s sales price, to the listing broker, who is contractually obligated to pay a fee to the buyer’s broker. The concept behind “For Sale By Owner” is to save the seller this money. Since Miami-Dade is a hot real estate market, a seller who chooses to list their home independently through FSBO could save tens of thousands of dollars if the buyer comes directly without the use of a buyer’s broker.

However, two critical factors can make a dramatic impact on the amount of money saved with FSBO.

  1. Many studies have demonstrated that FSBO sellers don’t command as high a price for their house as a professional real estate agent, particularly if the agent has significant negotiating experience, marketing resources, and industry knowledge. Savvy sellers who know the actual worth of their home could still run into problems with FSBO because buyers already anticipate they will pay less money simply because the seller has chosen the FSBO route.
  2. Should a buyer come to your house with their own real estate agent, that agent expects you to pay the traditional half-commission, usually 3%. In real estate lingo, this means you will “cooperate.” You risk losing the deal if the agent will not show the home to their buyer without compensation agreement or if the buyer refuses to pay their agent’s fee above the contract price.

Abode1: You, the Seller, Can Negotiate the Fee with the Buyer’s Broker

While Abode1 offers home sellers in Miami-Dade a competitive edge in multiple ways, one of the most significant is the ability to negotiate the fee with the buyer’s broker at time of contract offer. When Abode1 lists your property on the MLS, we are unique as we established no contractual obligation to the buyer’s broker if one is involved in the transaction. Instead, Abode1 assists our sellers in negotiating any cooperation broker fee during contract negotiations. This is how it should be as the fee should be reflective of the price, terms and conditions of the entire contract offer. This is an advantage you cannot enjoy with a traditional real estate transaction in which the buyer’s broker typically commands a 3% commission regardless of the contract offer. Furthermore, because you receive the support of Abode1’s real estate professionals, who have over three decades of experience in the Miami-Dade market, you’ll also avoid the two FSBO pitfalls we mentioned above.

Watch below to learn more about Marcelo Fernandes, Real Estate Broker and Founder of Abode1, and how Abode1 leverages advanced technology to kick traditional real estate transactions into the 21st Century.

FSBO: Lack of Pricing Knowledge

Abode1: Professional Pricing Support

Pricing your house correctly is an essential step in appealing to the right buyers. If you list your home too high, you may have trouble selling it, leading potential buyers to low-ball you when they see how long your house has been sitting on the market. But if you list it too low, you will lose out on potential profits.

At Abode1, we can help you determine the proper price range to list your house to entice buyers and maximize profits. When you work with our virtual brokers, we will provide you with a detailed comparative market analysis that includes a suggested listing price and estimated target selling price, steering you in the right direction to price your home correctly.

FSBO: It’s Up to You To Learn and Use Proper Legal Documentation

Abode1: Closing Contract Review & Attorney Referral

Navigating the closing process and signing contracts on your own can be overwhelming. Unless you have professional real estate expertise, you may risk overlooking key contractual elements or running into issues during the closing process.

However, when you work with Abode1, we will be ready and available to assist you throughout the closing process. If desired, we can even provide you with a list of certified closing agents and attorneys to help you with your seller paperwork. We will ensure that you have all of the resources you need to facilitate the most successful closing process possible.

Abode1: Sell Your Miami-Dade Property with Professional Help and Pay Only A Flat 1% Fee

As you prepare your home for sale, understand the vital differences between FSBO and Abode1. Abode1 will do everything a realtor in a traditional real estate transaction would do, except physically go to your house. We will list your home on the MLS while giving you the freedom to negotiate the commission you will pay to the buyer’s broker. You can look forward to more significant savings and the support of an experienced Miami-Dade real estate team.

For a flat 1% fee, Abode1 will help you with listing, pricing, creating promotional materials, schedule showings, negotiating with buyers, and more. Our real estate experts will be here for you every step of the way, from creating a pre-photo checklist and taking professional images to designing professional brochures of your property and sourcing a buyer to closing the deal.

For a free, no-obligation Home Sale By Owner quote from Abode1, call us at 786-733-1320 or fill out our contact form.

Copyright © 2021. Abode1. All rights reserved.

Abode 1
7440 SW 50th Ter. Suite 109
Miami, FL 33155
786-733-1320
1-800-921-4806
https://abode1.com/

 

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