Number one reason why for sale by owners don't sell

By
Real Estate Agent with Harrington ERA,DE Homes For Sale, $$ Save $$ Buy Today !

What is the number one reason why for sale by owners don't sell?  Yes it is a good lesson near to go to the corner of the room and repeat yourself....  Price, price, price, and yes say it again to yourself...  Price!  If you want to sell, vertically in today's market you have to have a realistic price.

 

So let's explore why most for sale by owners set their price too high to track perspective buyers.  The reason often is because the seller is focusing on the wrong goal.  The number one goal should be to sell your property.  What we often find as real estate agents, is that the for sale by owner, wants too much for the property.  Another thing that the real estate agents find is that the for sale by owner believes that they can save a lot of money by not paying an agent.

 

The seller as a for sale by owner ends up with unrealistic expectations of getting a fabulous sale and saving a bunch of money in the process.  The horrible results speak for themselves, a house that's priced way too high for the market, much higher than the comparable houses that are selling in the area and keeps a buyer from making any offers.

 

Another horrible reason that for sale by owners have trouble selling, is that they're dealing with buyers who want a deal since they know you are not working with an agent then they know you can afford to chop some money off the price.

 

The end result is lots of frustration and a home that hasn't sold, as many as 87% of for sale by owners usually end up with an agent. 

 

If you're considering selling your home on your own, give me a call and I can go over everything with you and let you decide.  Give me a call today, Tom Davis for all of your Delaware real estate needs at (302) 398-3757.

Comments (6)

Darren Revell
Keller Williams Realty Temecula Valley - Temecula, CA

Thanks for the post.. Like what you said.  It is so true.

Mar 14, 2010 04:52 PM
Gary Swanson
Century 21 Harris & Taylor - Grants Pass, OR

You are exactly right Thomas.  I hope those people who insist on doing it and actually get an acceptable offer hire an attorney to protect themselves.

Mar 14, 2010 05:35 PM
Tom Davis
Harrington ERA,DE Homes For Sale, $$ Save $$ Buy Today ! - Dover, DE
FREE Delaware Homes Search!, $$ Save $$ - Find Homes! Delaware Realtor

Hi Darren.

I appreciate it!

Much Thanks for chiming in to my post!

Tom Davis

Mar 15, 2010 02:44 PM
Tom Davis
Harrington ERA,DE Homes For Sale, $$ Save $$ Buy Today ! - Dover, DE
FREE Delaware Homes Search!, $$ Save $$ - Find Homes! Delaware Realtor

Hi Gary,

An attorney will be an added expense to the sellers costs and if the owner decides they wish to pursue selling on their own...yes an attorney is a must! 

Part of the agents job is protecting the seller from possible lawsuits and helping show the seller the right options for them. 

We live in a lawsuit society and if I was a seller I know I wouldn't want to take on the liability risks.  It is the sellers choice but most usually end up hiring an agent to sell their home due to this liability and other factors like time! 

Thanks again Gary, Great Advice!

Tom Davis

Mar 15, 2010 02:48 PM
Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

Thomas, good post on a subjct that I am very interested in as this is about 33% of my business. FSBOs don't have the access we have to the market.

Mar 20, 2010 04:00 PM
Paul Gapski
Berkshire Hathaway / Prudential Ca Realty - El Cajon, CA
619-504-8999,#1 Resource SD Relo

thank you very much for the informative and interesting post. I get so much out of the active rain network.

Feb 06, 2012 09:11 AM