SimplyFSBO says they are the new way to sell real estate. The company provides seller services to those who wish to list and sell their homes. They provide guidance and support as well as list the home on their website.
If the seller needs more help, they can opt for SimplyFSBO's “Guru Pro” package. For a one-time upfront fee, you'll receive every service they offer to ensure that your home sells quickly and for a good price.
They hire real estate attorneys to draw up purchase agreements and handle the closing. They claim that you get all this without paying the commission.
But how do they make their money? Let's dig into this SimplyFSBO review to find out how it works and if it's as good of a deal they claim it is.
How does SimplyFSBO work?
SimplyFSBO claims to offer seller services with no commission. Your first thought may be that the services are very minimal. According to their website, however, their services include the following:
- Full professional marketing plan including Facebook and other social media
- A comparative market analysis by a licensed real estate professional
- Listings on Zillow and Trulia
- Printable flyers
- Yard signs and directional signs
- Professional photography
- 3D showing and floor plan of the home
- Real estate attorney services
That sounds pretty complete. However, the realtors aren't working for free.
How does SimplyFSBO's pricing work?
The basic listing plan is free. You'll pay an $890 marketing fee at closing. If the home doesn't sell, they don't get paid. The next tier appears to include all the same services but requires a $299 upfront fee. With no marketing fee at closing (and no early cancellation fee), this represents a significant savings.
The top tier plan adds listing your home in the official MLS and on REALTOR.com to the deal. For this, you'll pay $990 upfront and nothing at closing.
Though not specifically stated, it appears that the attorney fees are not included. You can use their partnered attorney or hire your own. Find out more about real estate attorney fees here.
What do you not get when selling with SimplyFSBO?
SimplyFSBO offers support while you sell your home, but you're still selling it FSBO. This means that buyers will be contacting you directly for showings and to ask questions. You'll have to be available all the time to respond or your potential buyer may move on to the next property.
On top of that, some buyers are hesitant to ask their most burning questions when dealing directly with the homeowner. They don't want to offend, but not getting an answer may be a deal-breaker for them. That's why a neutral third party — like a real estate agent — is helpful.
You also have to do your own negotiating. SimplyFSBO provides a form that you can use to go back and forth with your buyer. However, there is no way that can provide an adequate substitute for a skilled negotiator.
FSBO homes tend to sell for approximately one third less than a comparable home handled by a real estate agent. Poorly handled negotiations are one of the big reasons for this discrepancy.
Finally, it's possible that your buyer will have an agent. Sellers are typically responsible for both agent's commissions. This means that you'll still be paying the buyer's agent commission and you'll be going up against a professional for the negotiations.
You might not save as much as SimplyFSBO would like you to believe.
Alternatives to SimplyFSBO
What if you could get the services of a real estate agent at a reduced price? You would get all the marketing and listing services that SimplyFSBO offers its clients. Plus, you would have an expert on your side during negotiations and they will guide you through to closing.
That's what makes Clever such an awesome alternative. You'll still save money, but you don't have to take an agent out of the equation to do it. This virtually guarantees a higher selling price for your home, plus the services of an expert for those inevitable bumps in the road.
How does it work?
Clever partners with licensed real estate agents from reputable brokers all across the country. Instead of paying the full commission you pay a flat $3,000 listing fee on homes up to $350,000. For more expensive homes, the fee is a mere 1% of the sale price.
Save money and get the full services of an experienced agent? How much more clever can you get?
Contact us today to find out more!