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Listing your property as an FSBO (For Sale by Owner) means doing mostly the overall work of selling the home yourself. Instead of relying on an agent, you have to manage and operate the house showing, create the listing price, and market your homes for sale with more creative ways. Well, all these trouble and legwork are done just to eliminate the real estate commissions for a listing agent that runs about 3% of the selling price.
Maybe you’ve heard about Zillow or their home’s market value estimator tool called Zestimate. It’s one of the leading real estate platforms that provide several services to home buyers and sellers. So, if you’re planning to get out into the market as FSBO, you can try listing your home on Zillow’s platform.
Real People, Real Stories
A Quick Overview of Zillow
Zillow is a real estate resource that posts property listings for rent or for sale and provides estimated market price value of your home. Founded in 2006, the company is currently based in Seattle, Washington, and considered as one of the prominent and most demanded real estate platforms for real estate databases. It essentially aims to assist home sellers in rental listings and professional listing agents. By relying on living databases and algorithms, it pursues to reimagine the real estate scene—selling, renting, buying, financing, advertising, and more.
Zillow offers free home listing for FSBO (For Sale By Owner) or listing your property for rent in the real estate web traffic. The company boasts its mobile real estate app, including its advanced search tools that let customers find homes and view “Zestimate” property values with no charge. In fact, it significantly makes its large profit through— handing qualified leads— advertising to different companies, agents, and lenders.
Why List Your Property on Zillow?
Using Zillow’s FSBO listing has its own perks and drawbacks you need to highly consider. Before deciding to utilize the platform, you need to compare and weigh the possible factors
Benefits of Zillow (FSBO) Listings
- Get maximum exposure. Zillow has an average of 160 million monthly online visitors. Nearly 64% of the buyers (and leads) can be found on Zillow’s platforms, and it was reported that 80% of homes were sold only during March of 2019. This means your home has solid online exposure to thousands of potential buyers in your location.
- Have full marketing control. As a For Sale by Owner in the market, you have complete creative control over every aspect of selling your property. You’ll have responsibility for setting your own selling price, creating a Zillow listing, and negotiating with the buyer.
- Save a huge fortune. Other than reaching more audiences online, Zillow helps you save money on agent commission fees or even on a flat-fee. What more, it’s free to post your property on Zillow’s platform. And you’ll also receive updates on e-mails about new listings and other real estate-related advice once you signed in.
Downsides of Zillow (FSBO) Listings
- It gives a negative assumption for buyer’s agents. Listing your home as FSBO on Zillow can mean you’re not ready to negotiate with a fair buyer’s agent commission. It also indicates that there is more legwork and fusses to take care of before closing the house.
- Meet buyers with unclear intentions of buying your home. You’re going to accommodate people who inquire a lot and want to visit your house, but with no interest to purchase your home at all. Thus, the whole rigmarole just wasted your time and effort when you could have done something else fruitful.
- Expect a lower sales price. Although you save on the agent’s listing commission, the downside is you’re getting below the fair market value of your home. FSBO could mean losing a big chunk of money than choosing a full-rated standard agent.
Is Zillow free?
Don’t worry, you can list your property as an FSBO in Zillow for free! You read it right. Since Zillow has already marked its name in the industry, they mostly charge no fee to for sale by owners to list a rental on Trulia, HotPads, and more. From listing your property to getting listing updates, you don’t need to spend a dime.
However, free of charge doesn’t mean zero catch. Zillow still makes a profit out of advertising real estate. Here’s how they do it.
How Does Zillow Make Its Profit?
As the leading real estate marketplace in the U.S., Zillow owns a lot of online real estate platforms such as Trulia, Hotpads, RealEstate, and real estate-related services like Zillow offers, Premier Agents, and Zestimates, to name a few. The company essentially gains its profit from advertising space to agents, mortgage lenders, contractors, and other businesses that want to reach its targeted consumers.
All those user details—home buyer and seller lead—are sold to designated Premier Agents. Since most of these featured or recommended local agents on listings paid a considerable amount to be shown first. So, once you use Zillow’s listing, you are being targeted as an eligible lead to hundreds of real estate agents.
In a nutshell, Zillow’s source of profit primarily revolves around ad sales, Premier Agent Services, and also Zillow Offers. With over a hundred million monthly online visitors, and a great number of real estate professionals and tools they can offer, listing your home in Zillow can be a good start.
Start listing your home as For Sale By Owner in Zillow with these simple steps.
Create your own Zillow account.
On the home tab, hover your cursor to the top header and click Sign-in or Join. Log in to your Zillow account if you have an existing one. Or create a new Zillow account and then click submit.
On the top header, hover over to the “Sell” subheader, and there you can view three selling options: (1) Sell with Zillow Offers, (2) Find a seller’s agents, (3) Post For Sale by Owner. After you click the “Post For Sale By Owner” option, you’ll be directed to enter your full home address for verification to access your dashboard.
Edit important property details.
Now that you have an owner dashboard that stores all basic information of your property. Click “Edit Facts” to make sure the information is accurate, so buyers won’t be having a hard time looking for your home. In the “More” section, you can also upload photos, edit your location, and more.
Set the right listing price via market research.
Set a reasonable price through the help of Zillow’s tool, Zestimate. Though the estimation may work, it may still not be a preferable tool for the basis of your home’s actual sales price. You can browse and compare sold homes near your area to get an estimate of your home’s value. Or better yet, you can ask an agent for a comparative marketing analysis (CMA), or a home appraiser for a professional evaluation to determine the price.
Upload sharp and decent photos.
Professional-quality real estate photos can increase your possibility of getting sales. You must dedicate enough time, planning, and equipment to photoshoot your home’s curb appeal. Begin with the buyers in mind. What features of the house would they like to see? Use natural light to turn your home more appealing. Your buyer’s first impression is the photos you’ve uploaded. So, choose the right ones that make your potential buyers get interested and want to see more of the property’s interior or exterior part.
Remember to review all the details.
Zillow auto-populates details when you input information about your home. Always verify the details and check if it’s correct or missing something. Double-check your listing details—location, home facts, price, and photos.
In the “Describe Your Home” section, showcase the best features of your home. Does it have landmark attractions? Best schools? Or any home improvements you’ve done? Make it sound like they found a gem among stones
Other important processes you need to do includes setting an open house date, completing the Room Details section, and add contact information so potential buyers can easily reach you. After you accomplish this, you can now save your changes and hit the “Post for Sale By Owner” blue button. The overall process could take 72 hours before your FSBO property listing could be available to the market.
Is listing my property on Zillow as FSBO enough?
Not entirely. Since most buyers who use agent look for leads through MLS listing, and not automatically on Zillow. In fact, there are several available options to sell your house as FSBO other than Zillow. You can opt to choose a discount real estate broker and still get a lower commission percentage or a flat fee rate. Or you can sell to an iBuyer or we buy houses for cash option for a far less than the fair market value though.
Or Try Houzeo’s MLS Listing!
If you’re ready to gain more traction and maximum returns, feel free to post it on the MLS. You can do this as a consumer through flat-fee listing services. The Most Advanced FSBO Platform, Houzeo, offers packages starting at $99 to list your home on the MLS, all the while having control of the process and transaction of your property. Our service ensures fast listing, real savings, with no hidden costs at closing. What’s more, you can save 100% commission on agents, too!
If you want to learn more about listing your home as a For Sale By Owner, you just need to log in to Houzeo and follow the steps below.
Ready to get listed on the MLS?
Here’s a video tutorial for listing your home on the MLS through Houzeo.
2 min Video: How to Request Changes to Your MLS Listing
5 min Video: How to Select a Settlement Agent – Attorney, Escrow, Title
Listing Your Home on Zillow For Sale By Owner FAQs
What is Zillow?
Zillow is a real estate and rental market place business that aims to assist homeowners, buyers, sellers, agents, and property managers. The company was launched in 2006 at its Seattle main office, operating different real estate mobile apps, platforms, and services to reimagine home. Since then, they’ve accrued a database of 110 million U.S. properties—including homes for sale (FSBO), for rent, and other properties that are not on the market (foreclosed properties, make me move, etc.).
How can you list for sale by owner on Zillow?
Create a Zillow account or Sign in on your existing one. Hover over the Sell tab and then on the Selling Options select Post For Sale By Owner option. Input your property home address and zip code, then click continue. And on your For Sale By Owner Listing page, fill in the details of your set price, home facts, and contact information. Don’t forget to upload appealing photos. Before your listing will go live, wait up to 72 hours for the verification process.
Why choose Zillow?
Zillow has an exceptional number of 160 million monthly visitors on its platform. Nearly 64% of the buyers are on Zillow’s search engine sites (Trulia, Hotpads, RealEstate, etc.) which means there’s a big chance your listed home can be sold on the platform in no time. However, it still boils down to you—as a seller—on how you prioritize your costing and marketing. You can also choose Houzeo’s MLS Listing to get listed on the MLS with the basic package starting at just $99—sell your home with fast listing and real savings!
How does Zillow make its profit?
Although most of Zillow’s services and tools are for free, the company generates its revenue through advertising space to different property management companies. Since they own several online real estate brands on mobile and the web such as Hotpads, Trulia, and RealEstate, they can easily convert sellers into leads as target markets for agents, mortgage lenders, and contractors. Other than ad sales, Zillow also offers a premier agent program that most agents are willing to pay monthly to be featured on the property listings.
Is listing my property on Zillow as FSBO enough?
Technically, no. Since most homebuyers who hire agents look for a property via MLS listing. Not all properties are listed on Zillow, some of them are on the MLS database which is only accessible to licensed real estate agents. If you’re only looking to market your home for free as FSBO, Zillow can be a great start. But listing it on MLS could give you more chances to sell it with fair market value. Or you can try Houzeo’s MLS Listing on selling your house as FSBO. Log in to Houzeo and save 100% commission on agents.
What is the best for sale by owner site?
These are the leading best for sale by owner websites that can help you: 1. Houzeo.com (The Most Advance FSBO Platform); 2. Zillow, 3. ForSaleByOwner.com, 4. FSBO.com, 5. Owners.com, 6. Redfin, 7. Fizber.com, 8. HomeFinder.com, 9. Trulia. And according to our assessment and comparative, Houzeo gets an outstanding score on buyer exposure, agent exposure, buyer agent commission, control over the sale, speed of execution, and the price.
Can I list my house on Zillow without an agent?
Yes, you can list your house on Zillow as a For Sale By Owner (FSBO) to save on the agent’s commission. All you have to do is to create a Zillow account. Find your home address and complete some details. Click Claim Your Listing from the drop-down menu and unlock the Owner Dashboard—and don’t forget to put yourself as the listing agent.
How much does Zillow charge for sale by owner?
Zillow asks zero charge for FSBO listing and their other real estate-related services. Listing a rental on Trulia, HotPads, and RealEstate is free! From getting listing updates to listing an FSBO property, all of it is free of charge. Even its mobile app and Zestimate service let users search and estimate their property without a fee.
Is Zillow safe?
Scams are always part of either online or offline businesses. Zillow tries to achieve a safe platform. But the company is not always a reliable real estate search engine platform, and to be safe, you should be cautious of giving private details or info or transact any payments to a party you personally haven’t met or known. It’s your sole responsibility to safeguard your privacy and report to the authorities if there’s a fraudulent or illegal activity.
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