Selling a home is a daunting task, and homeowners are faced with the decision of whether to hire a real estate agent or go the for-sale-by-owner (FSBO) route. With the rise of technology, there are now plenty of online platforms that allow you to advertise your FSBO home, including Zillow, which is one of the most popular real estate websites in the United States.
However, the question remains: is listing a home FSBO on Zillow really worth it? In this article, we will explore the pros and cons of using Zillow as a platform to sell your home without the help of a real estate agent, and whether it’s a viable option for homeowners looking to save money on commissions.
What is Zillow?
Zillow is an online real estate marketplace that provides information about homes, rental listings, and mortgages. It was founded in 2006 and has since become one of the most popular and trusted websites for buying, selling, and renting properties in the United States. Zillow uses data from public records, real estate agents, and homeowners to provide estimated property values, historical sales data, and other relevant information to its users. The website also allows homeowners to list their properties for sale or rent as for-sale-by-owner (FSBO) listings or through a licensed real estate agent. It also offers tools and resources for homebuyers and sellers, such as calculators, guides, and an app.
How much does it cost to list FSBO with Zillow?
Zillow allows you to list your property for sale or rent as a for-sale-by-owner (FSBO) listing for free, making it a no-brainer option for anyone determined to sell their home themselves.
Pros & Cons of Listing FSBO on Zillow:
The pros of listing a home as for-sale-by-owner (FSBO) on Zillow include:
- Cost savings: One of the most significant advantages of listing FSBO on Zillow is that it can save homeowners money on commissions that they would have otherwise paid to a real estate agent.
- Control: Listing FSBO on Zillow gives homeowners more control over the selling process, as they can manage their own listing, pricing, and negotiations without the involvement of a real estate agent.
- Exposure: Zillow is one of the most popular real estate websites in the United States, and listing FSBO on the platform can provide homeowners with broad exposure to potential buyers.
- Flexibility: Listing FSBO on Zillow allows homeowners to be more flexible with their selling strategy, such as setting their own open house schedule or adjusting the price of the home based on market conditions.
- Transparency: Zillow provides homeowners with valuable data and insights into the local real estate market, allowing them to make informed decisions about pricing and other aspects of the selling process.
The cons of listing a home as for-sale-by-owner (FSBO) on Zillow include:
- Lack of experience: Selling a home is a complex process, and homeowners who are not familiar with the real estate industry may struggle to navigate the process effectively. This can lead to pricing and negotiation issues that could result in a lower selling price than what the home is worth.
- High competition: While Zillow will ensure your FSBO home gets just as much exposure as homes listed by realtors, there will be a lot of competition since they also aggregate from local MLS. If you take your own photos and a realtor uses a professional, you may have a hard time getting people to view your listing.
- Marketing isn’t easy: Successfully marketing a home requires significant effort, including creating a compelling listing, getting professional photography, and effective advertising. Homeowners who list FSBO on Zillow may struggle to create effective marketing materials without the help of a professional.
- Time commitment: Listing FSBO on Zillow can be a time-consuming process, as homeowners will need to manage their own listings, coordinate showings, and negotiate with potential buyers.
- Legal risks: Real estate transactions involve significant legal considerations, and homeowners who list FSBO on Zillow may be at risk of legal issues if they do not have the proper knowledge and resources to navigate the legal requirements.
- Junk calls: Realtors know that 70% of FSBO sellers end up listing with an agent to sell their home, so they often call FSBO listings to try and get business. While you’re unlikely to get true junk calls from your listing, you will open yourself up to getting calls from plenty of realtors.
- Buyers are often put off by FSBO: Family buyers often feel uncomfortable dealing with a buyer directly – they’re used to having middlemen. Being shown around someone’s home by the owner often means they cannot envision the home as theirs instead of the owner’s, and may find it difficult to think critically about the home when they feel like they need to be polite. This can all make it harder to sell your home FSBO, even when listed on Zillow.
Is listing FSBO on Zillow worth it?
The decision to list a home as for-sale-by-owner (FSBO) on Zillow ultimately depends on the homeowner’s specific needs and circumstances. While listing FSBO on Zillow can be a cost-effective option for homeowners who are comfortable managing the home sale process on their own, it may not be the best choice for everyone.
Homeowners who have experience with real estate transactions, are comfortable with marketing and negotiation, and have a good understanding of local real estate market conditions may be able to successfully list FSBO on Zillow and achieve a successful sale.
However, homeowners who are not experienced in real estate may struggle with the complexities of the process, which could lead to pricing and negotiation issues that could result in a lower selling price than what the home is worth.
Get a Cash Offer for Your Home
If the idea of selling a home as for-sale-by-owner (FSBO) sounds too difficult but you don’t want to list with a realtor, our company can provide you with an alternative solution. We make cash offers on homes in as-is condition in Massachusetts, which can prove to be a much easier, faster, and more cost-effective option for homeowners.
With us, homeowners can receive a cash offer for their home in a matter of days, and we can close on the sale in just 2 weeks. If you’re looking for a convenient and hassle-free way to sell your home without the stress and challenges of listing FSBO or working with a real estate agent, we can help.