🏡 Most Common Real Estate Questions (And Simple Answers)

Whether you're buying, selling, or listing FSBO, understanding the basics helps you make confident decisions. Here are some of the most common real estate questions—answered clearly and simply.

1️⃣ Buying and Selling Basics

  • What is the MLS? The Multiple Listing Service (MLS) is a shared database of homes for sale. FSBO sellers can access it through Brokerless.com.
  • What is FSBO? For Sale by Owner means selling your property without hiring a traditional agent.
  • How do I list on the MLS without a Realtor? See our step-by-step guide: How to List on the MLS Without a Realtor.
  • Should I buy instead of rent? If you plan to stay for several years, owning can build equity over time, while renting offers flexibility but no ownership benefit.
  • How long will it take to sell my home? It depends on demand. In a buyer’s market, sales can take longer; in a seller’s market, homes often sell quickly.
  • How long has this home been on the market? Days on market (DOM) is listed in the MLS—longer DOM can indicate overpricing or limited demand.

2️⃣ Pricing & Home Value

  • How much is my home worth? Compare recent local sales (comps) and use an online valuation tool. An MLS flat fee listing gives you more market data visibility.
  • How do I price my house? Base it on similar homes nearby, condition, and upgrades. Our guide on selling without a Realtor explains pricing strategy for FSBO sellers.
  • Why is my home’s assessed value different from the market value? The assessed value is for tax purposes; market value reflects what buyers are willing to pay today.
  • Are real estate commissions negotiable? Yes. Traditional agents may charge around 6%, but you can save thousands using a flat fee MLS listing through Brokerless.

3️⃣ Market Timing & Conditions

  • When is the best time of year to sell my home? Spring and early summer typically attract the most buyers, but serious buyers exist year-round.
  • What’s the difference between a buyer’s and seller’s market? A buyer’s market favors buyers (high inventory); a seller’s market favors sellers (low supply).

4️⃣ Financing & Credit

  • What’s the average credit score I need to buy a home? Most lenders prefer 620+ for conventional loans, though FHA loans allow lower scores with larger down payments.
  • What is escrow? Escrow holds funds safely until contract conditions are met. Learn more about escrow.
  • What is earnest money? A deposit showing good faith when making an offer. See how it works.
  • What is a title search? A check to ensure there are no liens or ownership issues. See what it reveals.

5️⃣ Helpful FSBO Resources

Selling your home by owner? Start here: