You will need to price your FSBO property for sale before placing your MLS by owner listing through For Sale By Owner FSBO in Virginia. You set the price for your listing. We provide information and help along the way.
Remember: Because you save so much on Realtor commissions, you can price your home to sell faster and still come away with more profit.
Comparative Market Analysis (CMA) or Comps
With your Flat Fee MLS listing package, throughout your listing period, we will send you comparative listings, or “comps” of homes similar to yours currently or recently listed for sale in your subdivision or neighborhood. With these listings, you should be able to get a good idea of the price that is right for your home.
We run a report of all homes that are currently active, under contract, recently sold, expired and withdrawn in your subdivision. Generally, comps are sufficient for most home sellers to set a price, but some home sellers want an appraisal.
If you do want a professional appraisal, the run approximately $400 - $600. Remember your buyer is likely to want to repeat this with their own appraisal prior to close.
We recommend you drive around and look at the properties on the CMA list that are similar to yours to come up with the best price for your home.
Please note: we can only run comps for the following MLS systems: MRIS, REIN, CVR, WAAR, and CBRAR.
Price Your MLS by Owner to Sell
Once you have your comps, we advise you to pick a price that you feel comfortable with for your MLS by owner listing. As an FSBO seller, because you don’t have sales commission to pay, price it slightly under your closest competition so your listing will get more clicks and offers. Keep an eye on the pricing activity in your area and the activity of your listing, and be willing to change or negotiate the price if necessary.
Here are a few more tips to help you price our FSBO MLS listing
Remember, as an FSBO seller, you can set a price that will make your home sell fast. Here’s why:
Why do FSBO homes sell faster than Realtor Listed homes?
If you want to be successful, ALWAYS price your home a tad less than your competition. Remember they are paying 3% more than you.