For Sale By Owner (FSBO) FAQs

FOR SALE BY OWNER (FSBO) FAQs


How Much Can I Save in Commissions?

Most Real Estate agents charge a commission based on the selling price of the home, which has traditionally been 6% in California (3% listing; 3% selling).

On a typical $400,000 home, the 6% commission would amount to $24,000.00. Under the 1Listing Program, you pay $3699 on the listing side, and we recommend advertising the selling/co-operating broker commission at 2.5%. If NCaHome/1Listing is the listing broker and a traditional brokerage is the selling broker, the total commission is $13,699 (versus $24,000). If NCaHome/1Listing is both the listing and selling broker, the total commission is $9699 (versus $24,000). You only pay if the the home is sold.

NCaHome/1Listing is a full service Realtor, but offering discount and fixed fee commission rates.Please feel free to contact 1Listing for more information about its listing programs.



Why do Traditional Real Estate Agents Charge So Much?

There is work involved with selling a home. Overhead, advertising, working with potential buyers, assisting financing and guiding through closing are all services performed by licensed Real Estate Agents.

However, even conceding these items, NCaHome/1Listing believe that real estate commissions are excessive.
One reason that agents have kept their fees so high has been because access to the mass market of buyers has been controlled by the MLS system. While still very important, this is starting to change with the advent of inexpensive mass market advertising through the Internet.



How Long Should It Take to Sell My Home?

The average time on the market varies greatly depending on the area and the local economy, but is typically 10-30 days. In a hot market, houses may sell in a matter of days, while in a slow or rural area houses may take much, much longer to sell.

Most Agents require listing contracts of six months. NCaHome/1Listing limits its listing period to 90 days, and gives sellers a cancellation clause (almost unheard of in the industry).

NCaHome/1Listing believes that 90 days should be more than adequate time to effectively advertise and sell a home. If your house has been on the market over 90 days, you need to look closely at whether you are properly marketing your home, or whether you have some problem with your home (usually a selling price problem).



Do I need a Lawyer?

You may or may not need the assistance of an attorney depending on the circumstances and your own knowledge and experience.

If you need help with the contract due to inexperience or special circumstances, here you can obtain the help of a qualified real estate attorney who can advise you and draw a standard contract for purchase and sell. Fees for this service are typically under a thousand dollars.



How can I help the buyer find financing?

A professional mortgage broker or banker should be one of the first people that a buyer contacts. Most can quickly pre-qualify the buyer over the phone, get the buyer approved for an appropriate mortgage and handle all of the mortgage paperwork.



How can you advertise my home for $299?

Under the 1Listing Program, a seller's home is entered in the Multiple Listing Service (MLS). The seller also receives listings on several Internet Web sites and listing services including Realtor.com (the number one visited real estate site), Homes.com, and NCaHome.com.

These tools make selling a home easy and fast for clients.



How do I post photographs to list my property?

You can scan your photographs with a scanner, or have a friend, local print shop of Kinko's do this for you. Digital cameras are becoming inexpensive and are a popular option as well. A third option is ordering a photo disk, usually just a few dollars from your film processor when you have the photos developed.

In any case, be sure to save your photos in a standard format such as jpeg or gif and in an appropriate size. The software that comes with your scanner can assist you with this. The better web sites allow you to upload and manage the photos yourself or you can mail them in for assistance.

The pictures can then be emailed to 1Listing, and 1Listing will load them into the listing free of charge.



Does Advertising on the Internet Work?

Over 90% of all homes sell through the MLS. And, the number one visited real estate website in the US is Realtor.com. Sellers obtain tremendous listing exposure through the 1Listing Program.



1Listing.com is a California fixed fee Multiple Listing Service (MLS) listing and marketing website for California For Sale By Owner (FSBO) sellers. 1Listing charges only $299 for a listing on the MLS. Visit us at www.1Listing.com or call (707) 693-0100.