I just realized this morning what some for sale by owner sellers must feel like occasionally. You see, I am clearing out some old junk and one of the boxes had a few coins I "collected" while traveling in the military. Well, the collection was not intentional.
Anyway I decided to sell some on Ebay to see what they were worth. I am not proceeding blindly because I "googled" other items with similar characteristics (in my opinion). [Is this the Zillow Approach to Selling Your Own Home?]
So I set the price as a "FSBO" coin seller.
The market has shown me a few things so far. The most important being that my price opinion was possibly a bit high.
At one point I raised the market time from five day duration to ten days thinking I did not give my product enough exposure to the market.
Still, no takers.
There are a few that have received bids. Low but at least some interest.
Admittedly I have very little risk in my "FSBO" bid to get rid of unwanted stuff.
But that is where the comparison ends.
Selling what is likely ones most expensive possession is quite different. FSBO sellers are risking much more than a few foreign coins!
For sale by owners need to understand their risk. FSBO sellers need to understand the process. FSBOs need professional advice. FSBO sellers need to know the market and competition.
As for me and my coins I will get rid of them because they are just junk. If they truly had more value than a few bucks I would go a different route.
But a house is much more.
I work up this morning with the same thought a FSBO seller must have each morning. Will a buyer come today and appreciate my stuff for what I believe it is worth?
If one is considering selling as a "For Sale By Owner," get professional advice first.... professional as in real estate agent - not a shrink!
By the way home buyers... before approaching FSBO sellers seek professional advice as well!