We see a lot of "For Sale by Owner" (FSBO) signs out there these days. There are several reasons for this, the main one probably being the idea of saving the commission that a Realtor® will earn by selling your Franklin county home.
Keep your eyes on these FSBO signs and you'll soon come to realize, however, that as many as 80 percent of them will eventually opt to hire a real estate agent to sell the home for them. That kind of poor success rate may make you wonder what goes wrong.
Here are some of the pitfalls of trying to do an FSBO on your home:
Wrong Listing Price
Finding the perfect listing price isn't an easy task, even for an experienced Realtor®, so don't be surprised that it's an often impossible task for a homeowner. The right price is the most critical element of selling anything, so if you don't get it right there probably won't be a sale even though your home may be perfect in every other aspect.
Not Enough Exposure Online
If you've ever looked into selling your own home, you're probably aware of the FSBO websites that say they will expose your FSBO home to thousands of buyers. While your home may be posted on several FSBO websites, the problem is that these sites don't generate a lot of traffic. Sites that web-savvy realtors use have much higher traffic.
You can check this out yourself by Googling the name of your town and state along with typical keywords that homebuyers would use, such as "homes for sale" or "real estate", and see what shows up. I think you'll find it's predominantly the big real estate sites or even local agent's websites.
Potential Buyers Love to Share
Obviously, buyers will know you're not going to be paying a Realtor® a commission, so they feel that you should share this bit of new-found wealth with them. They may even take a percentage off the top of their offer to compensate for the money you're saving. When this happens, it really nullifies any gain you may have made by selling your St. Clair area home yourself.
Especially if you're a working home seller, it may be difficult to find a time available to show your home to prospective buyers. You also may wind up with people stopping at odd hours demanding to see your home, so be prepared!
Let's face it. It's really a waste of your time to show your home to buyers who aren't (and may never be) pre-qualified to purchase your home. A real estate agent will be sure that buyers who are looking at your home have the ability to purchase when they decide they want to make an offer on your house.
As you can see, selling a house on your own is not the quick and easy task that it may appear to be on the surface. In the long run, you'll be much better off putting your home in the hands of an experienced Realtor® such as myself. You're more likely to sell your home faster and for a higher price. So please, call me, Scott Hickinbotham, today at 636-629-3419 or contact me online. We'll find the perfect buyer for your home in no time.