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.