Reasons Why FSBO Sales Fail

Marketing Your Home Isn’t as Easy as You Think

By marketing your home on your own you may not get as much exposure to the right audiences as you will need. Realtors have access to the Multiple Listing Services which automatically ties into many of the online real estate websites. Imagine trying to get onto every one of them, even the most common one, by manually adding all your listing details and photos. That ties into professional photos. Taking your own is not as effective as having them professionally done, which can be pricey. Professional real estate photographers know exactly how to photograph your home in the right lighting, with professional equipment and what to highlight like tall ceilings, attractive finishes and, with their experience and expertise, they can make the home look more spacious. Additionally, a realtor knows just how to present your home to the public by writing a good listing description with the most important and impressive things about your home highlighted. Let’s not forget that the right realtor will have a network of other realtors and potential clients to present your property to. Giving your home exposure to a much wider market of buyers.

Homes For Sale By Owner are Typically Priced Wrong

Most For Sale by Owner properties are priced too high or worse, too low. Pricing your home at a value that is too high for the area will exclude you from consideration the moment a potential buyer buyer’s realtor looks at the listing. When a seller lists their own home, they tend to have an emotional investment in the property that influences the listing price. A good realtor will research comparable homes in your neighborhood and help you to determine what the correct price of your house should be. Today’s market is a seller’s market, and you can easily sell your home in a couple of weeks depending on its price range. Additionally, if your price is incorrect for the area, your home may languish on the market for a long time, making buyers wonder what might be wrong. Listing price is key and a professional will not only help you get the best bang for your buck but help you sell quickly

You Could Overestimated or Underestimate How Much to Spend on Updating Your Home

Updating your home is important so that it will appeal to more buyers, but you have to be careful about how much to spend on your upgrades. Things like fresh paint and updating your curb appeal go a long way and they are budget friendly. If you decide to renovate your entire kitchen and spend $50,000 on doing so, there are no guarantees that you’ll recuperate that money in the sale of your home. New carpet and flooring also go a long way if you want to make a more substantial investment in selling without breaking the bank. Real estate agents have experience helping their clients to prepare for a sale. They look at your home and tell if you need to declutter, clean and may suggest things like staging. It’s not always good to spend a ton of money to renovate when selling.

Showings are a Drag

FSBO sellers don’t realize what a drain showing your own home can be. On top of scheduling potential buyers, you’ll have to deal with looky-loos, people who have no intention of buying and sharks, investors looking to flip your house for a profit. You’ll quickly be inundated with calls from real estate investors looking to save on realtor commissions and who typically low ball you on the price of your home and don’t result in a sale. An agent will schedule and staff tours of your home and weed out unsuitable buyers. They’ll also ensure that potential buyers are qualified to finance a home at your price. They’ll also solicit feedback from people who have seen your home that they might otherwise be hesitant to share with the owner of the home. And lastly, people don’t want to look at a home when the buyer is there. You may think it’s helpful to tell a buyer all about your home while they look, but some may find it intrusive and it may make them uncomfortable taking a good look at the home.

Preparing Your Own Paperwork Can Be Tricky

Unless you have a background in contracts or law, you may want to leave the paperwork to the pros. Not only is the sale of a home paper intensive but most realtors use electronic documents whose software you may not be familiar with making it difficult for you to transact. Also, there are disclosure requirements like lead-based paint addendums which a legally required. A realtor will know what paperwork need to be including in the transaction and also help to keep you out of legal hot water as well as ensure that you are protecting your own interest in writing during the transaction. And lastly, your agent is a professional and experienced negotiator. The right realtor will have years of experience and know just how to present counter offers and help you determine what’s fair to offer in terms of repairs to the home etc. Avoid opening yourself up to a potential lawsuit during the contracting process and hire a pro.

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