For Sale By Owner Listings on Long Beach Island
This page is dedicated to for-sale-by-owner (FSBO) properties on Long Beach Island. It’s important to note that The Guarino Team is not representing these sellers, but we are here to assist you in your buying journey
FSBO vs. Traditional Listing
When selling a home “For Sale By Owner” (FSBO), the property owner is responsible for marketing the house without the involvement of a listing agent. In contrast, with a traditional MLS listing, the seller hires a realtor to act as their listing agent and pays a commission for their services. The realtor manages tasks such as marketing the property, negotiating on the seller’s behalf, listing the property on the local MLS, and informing local LBI agents to attract potential buyers. Listing your property with an LBI REALTOR ensures it reaches a larger pool of potential buyers; however, some sellers bypass a listing realtor to save on the commission they must pay at closing.
How does the commission work for a FSBO?
In many cases, sellers will still offer a commission agreement to buyer agents who bring potential buyers. However, the seller does not pay any commission to list the property since no listing agent is involved.
Process
The process for purchasing a for-sale-by-owner property is straightforward and largely the same as purchasing a traditional listing. If you see any properties that interest you, here are the steps:
Process
- Contact The Guarino Team to confirm availability and answer preliminary questions.
- Arrange a showing to preview the property.
- Negotiate a sales price and the terms of the agreement.
- Retain an attorney to review the contract on your behalf.
- Inspect the property and request any necessary repairs.
- Schedule a closing date.
- Take a final walk-through of the property.
- Closing: congratulations on your new LBI home!
