People who wish to save money on listing agent fees often choose to sell for sale by owner or “FSBO”. While this could help sellers save money, there are definitely some downsides to listing FSBO.
There have been studies done that show only about 11% of sellers actually succeed in FSBO. You’re probably wondering why there are so many FSBO fails. Well, while selling your home yourself might seem simple, there is a lot more that goes into the home selling process than you think. Continue ready to learn 5 reasons why FSBO fails and why it’s a good idea to call a Waltham Real Estate Agent to assist you in your home selling process!
1. Failure to prepare home properly for sale
There’s a ton of work that goes into preparing a home to sell and this is where a lot of FSBO sellers fall short. When selling a home it’s important to declutter, clean everything, make repairs, replace outdated features, improve curb appeal, etc. As a seller, you want your home to look perfect for potential buyers. When working with a Waltham Realtor they’ll be able to walk through your home and point out everything that needs to be cleaned or improved so that you have the best chance at making a sale.
2. Home is incorrectly priced
Pricing a home correctly is something that many FSBO sellers get wrong. In order to list your home at the correct price, you must thoroughly understand the housing market and most FSBO sellers don’t. By hiring an experienced Waltham Real Estate Agent you’ll be able to price your home correctly right off the bat and increase your chances of selling your home more quickly, and possibly for even more.
3. Don’t know how to screen buyers
Learning how to screen potential buyers is a skill that even takes Waltham Realtors some time to learn. When screening potential buyers it’s important to have a list of questions prepared to ask. These questions will help you learn about the buyers and learn whether they are qualified to buy a home. By working with a Waltham Real Estate Agent you won’t have to worry about asking all the right questions because we’ll take care of that for you!
4. Lack of marketing knowledge
Marketing is extremely important when it comes to selling a home. I mean, how else will potential buyers know about your home? Many FSBO sellers don’t know where to start when it comes to marketing. While adding your home to a listing site is a good start, there is still a ton more that needs to be done. Also, there are some listing sites that don’t even allow FSBO sellers to list. Waltham Realtors have the experience and best marketing tools to successfully market your home.
5. Not always available for inquiries
FSBO sellers don’t always realize how much work goes into the home selling process. A big chunk of the work includes always being available to handle inquiries from potential buyers. Most FSBO sellers have full-time jobs so it’s hard for them to always be available.
In real estate, it’s crucial to be timely with your responses to potential buyers. If you aren’t quick to respond, there’s a chance they move on to the next property and you lose the potential sale. By working with a Waltham Realtor, you’ll have someone always available to answer inquiries from potential buyers.
6. Don’t know how to negotiate
Almost all home sales involve some sort of negotiation. An FSBO seller might not realize that not only will you have to negotiate the price of the home but there are also a lot of other factors that may need negotiation. If you don’t know how to properly negotiate, you might end up agreeing to things you shouldn’t be agreeing to. Waltham Real Estate Agents are trained thoroughly on how to properly negotiate.
Work with a Waltham Real Estate Agent
As you can see from reading above, selling a home comes with a lot of work. Instead of trying to sell FSBO, work with an experienced Waltham Realtor like Hans Brings! Not only will Hans make sure everything is in place for your sale, but he will also work to get the best possible price for your home. Contact Hans today! 617-968-0022