OK you want to sell your home. And you want to do it yourself, a real For Sale by Owner, or as we call them in the industry, FSBO's. Sure you can do it yourself. Many people are very capable and have the time. But, just in case you didn't know, 85% of FSBO's ultimately list with a Realtor.
In the first month of being on the market is usually when the most traffic will occur, the most visitors will inquire, this is the time your presentation to the market should be the greatest. After a house sits on the market awhile, awhile depends on your local area and the sales volume, it could be that 90 days is awhile, it could be that 250 days is awhile, anyway, after its on the market awhile, it becomes what is known as STALE. Same as a loaf of bread. Its yesterdays, its STALE, why didn't it already sell is most buyers question.
So my point here is, go ahead and list with a good agent, one who will market your home to the fullest, one who cares about your move and knows your timeline. A Realtor can help you get to your goals with less frustration and often more money in your pocket.
Today, I started out this post to tell you a few simple things that you must know if you are going to tread those waters of FSBO.
Disclose, disclose, disclose. If in doubt about any issue disclose disclose disclose.
Get a real value and price to market your home, not what next door sold for last year.
Get buyers preapproved. Taking your house off the market for weeks and then to find that the buyers have no credibility is a real blow to your timeline.
Safety first, showing safety, always err on the side of caution.
These are just a few things you need to address when you are going to sell your home. Pricing is the number 1 reason a house sells or doesn't sell. Remember a house must appraise for a loan in most instances. An independent appraiser will be used by a bank or lender for value of the house, that independent appraiser will use the most current sales in the area that are most like your home to determine the value of your home. Pricing, its the deal breaker or deal maker. Get it right if you want it sold.
If you want to cut to the chase and get the help of a professional Realtor in Austin Texas, call me.. I can help YOU.
I think you have stated some great tips about FSBO's. One way that I have been coaching agents to gain a lot of rapport with FSBO's is to invite every FSBO in the area to their Open House. This is a non threatening way to introduce yourself to the FSBO while allowing them to scout out their competition. The result has been a lot of new listings. Try it out. Greg Harrelson
That is a great idea Greg! Thanks for all the great tips. I haven't worked FSBO's since first becoming a REALTOR but might check them out again, now that I have an assistant I might be able to get more done!
Hi Gail... Great tips! I am always amazed how many FSBO's that sit on the market for months get listed with an agent and then sell within just a couple of weeks.
Wonderful tips of FSBOs Gail. I would say don't go beyond two months without a REALTOR if it isn't selling, or they are in trouble.
It is always amazing how no one sees the forest thru the trees. FSBO's figure i can sel myself and save paying a REaltor. in the end it costs them more and as you point out 85 % come back to us. Good tips in this as well thanks Gail
HI Greg, That too is a great way to introduce your services to a FSBO. Thanks.
Evelyn, its like all aspects of sales, its Face to face time that will win over a FSBO.
Steve, unfortunately that wasted 2 months is when the pickins for buyers were the best.
Gary, I would say be smart, start smart, get a Realtor.. but, many don't for awhile.
Charlie, that is amazing isn't it.. 85% ( I got that percentage from the SMART class I went to and paid mucho denero for).. I think we should educate all consumers to how real estate works, buyers and sellers need to know, so do FSBO's.
great info.. some of my buyers in the past have asked me about FSBOS. They are not sure how to go about looking or placing an offer on them. i feel like most of time FSBOs are just ignored
Gail,
You make some great points here. If you take it slow and easy you can eventually get them to list.
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