How does For Sale by Owner work?

The For Sale by Owner method of real estate sales is a popular method for sellers to sell their home or property without having to pay a traditional Realtor® a high commission, while also forgoing having to pay an inexpensive flat fee. While flat fee Realtors® often provide a For Sale by Owner package, it is not always included in their portfolio of products.

One Flat Fee provides several packages to allow home and property sellers to pick and choose the exact level of service they need. For instance, if a home seller wants MLS® listings only, One Flat Fee provides this service at $1499 – less than many other competitive lower mainland flat fee Realtors® – but along with an MLS® listing, One Flat Fee also provides listings on MLXchange® and realtor.ca, which exposes a home for sale to a potential 75% more home buyers.

One Flat Fee’s For Sale by Owner package, also commonly known as “FSBO”, is a term used in the real estate industry to identify a home or property that the owner wishes to sell themselves, without help from a Realtor®. Owners advertise their own properties by online advertising and word of mouth. This is where the MLS® listing service comes in handy, as an MLS® listing is an essential step to selling a home, whether a seller is using the For Sale by Owner method, or chooses a full-service real estate package.

The following services and benefits are included within the One Flat Fee For Sale by Owner package:

• All listing documentation to list your home or property on MLS® and Realtor.ca (posting rules of the Real Estate Board require that a listing contract be signed with a Realtor® before MLS® will accept a listing, which is what this service provides)
• Changes and open house announcements
• Forwarding of inquiries and prospective buyers
• Forwarding of the Title of the property
• Free market evaluation with comparable homes and properties

For Sale by Owner commissions are eliminated in favour of flat fee listings. One Flat Fee’s structure is as follows:

• FSBO Package 1: For Sale by Owner and NO buyers’ Agent involved: $1499
• FSBO Package 2: For Sale by Owner WITH buyers’ Agent involved: $3499

If a buyers’ agent is involved in the transaction, the contract is prepared by that buyer’s agent with a date for subject removals and a definitive completion and possession date. In a basic listing-only package, the seller is responsible to complete these negotiations; however, should a seller use the One Flat Fee full-service package, One Flat Fee provides assistance, representing the seller in the sale.

One Flat Fee allows home and property sellers to sell their property while also saving money on high commissions and unnecessary fees. We are a brokerage servicing all of BC – and with $135 million in sales, we are confident that we can sell your home!