Homeowners that try to sell their home do it mainly to save on real estate commission, we think this might not be a good idea for most sellers.
Here are some reasons homeowners encounter that make selling their home a total uphill battle.
1. Homes Are Not Priced Correctly
This is the main reason why FSBO homes do not sell, homeowners are not aware of the current market as an experienced real estate agent, so they tend to overprice. FSBO sellers often base their price on active listings on the market and not the sold.
The number one thing that attracts buyers other than location is price than comes the overall condition of the home.
Real estate agents have all the tools and know hows to determine a price for your home that accurately reflects the current market and will attract homebuyers.
2. Buyer’s Agents Avoid Showing FSBO Homes
Another reason FSBO homes don’t sell is real estate agent know the FSBO homes are overpriced, poorly staged or prepared for showing, in many cases difficult to schedule viewings and lastly feel that in many cases will not be fairly compensated.
In conclusion FSBO homes will lose out on a large pool of qualified buyers. Most sellers waste a lot of time showing homes only to find out those buyers don’t have their financing in order to purchase the home.
3. Poor Marketing Strategy
Sellers underestimate or don’t take in consideration of the hard work that goes into marketing a home, it’s not as simple as placing a yard sign in front of the home and expect a bus load of buyers wanting to see the home.
Real estate agents have an extensive array of database to push the listing to thousands of potential home buyers.
There is more to selling a home…. listing the home, yard signs, photos and videos, staging, open houses, online marketing, social media, email marketing, networking with other real estate agents and working with buyers.
It’s a real estate agent’s full time job to take care of all these time consuming tasks and finally negotiate the offers to achieve the highest price possible for the seller.
4. The Paperwork
One of the most overseen aspects of selling a home to FSBO`s is the paperwork and scheduling home inspectors and appraisers. They don’t have the experience required to address appraisal issues, understand real estate contracts, closing documents and title work.
A real estate agent is not emotionally attached to the subject property being sold therefore can be objective and negotiate all the terms of the transaction. These are some reasons fewer and fewer homeowners are choosing to sell their own homes.
FSBO home sales are down from 18% of all the homes sold in 1990 to an estimated 8% in 2013. Surprisingly most of the sales by FSBO`s were to neighbors, family, friends or someone they knew before the sale.
Before you take the challenges of selling your house on your own, sit with our real estate agents and see what they have to offer.
For a free CMA of the value of your home in the Orlando, Florida area call us.