This is a great post written by a fellow KW agent in our office. I her observations are right on the money when it comes to trying sell your own home. Thank you Jill for letting me re post this!
Via
Jill Watts (Keller Williams):
I just took a listing a while back in Clark County, WA area. It had been a FSBO. It had been on the market on and off for about a year. The "unrepresented sellers" had tried renting it out and ended up having to put in all new carpet and repair walls after the renters moved out.
So, the sellers shove a red and white plastic sign down into the ground with their phone number on it that says "For Sale By Owner." They get a lot of calls all right. When I took the listing, the owner gave me a list of people that had called on the sign phone number. The owner said I need to call and check out these people to see if the buyer really wants to buy it.
I called all of them. Most of them were not interested at the price we have listed it at, even though the comps in that area tell me the house is pretty much in the right range. Most of the buyers wanted the price to be about $60-70,000 less, but didn't have a down payment to get started anyway. Three of them didn't have jobs, one had a job but not for a whole year. One said they would sign up for the First Time Homebuyer's class. All of them listened politely for the spiel about the $8,000 tax credit. One lady was very rude to me and said "I can find homes for sale all by myself! I don't need a realtor!"
These buyers don't seem motivated. It takes effort and decision making skills to buy a house! They seem to want something for nothing...no credit, no mortgage, no payments, no effort!! Not getting a house either!!
This is why FSBOs have a hard time in even and average market. Takes a lot of work by knowledgable realtor to find a good buyer.