For Sale By Owner | Do Not Make This Mistake

For sale by owner (FSBO) as it is also know, has some great fatal traps for sellers. Motivations are generally different from that of most reasonable sellers and of course Realtors. Sometimes sellers mistakenly think that avoiding a Realtors commission and maintaining control is in their best interest, but it is clearly not according to the historical statistics. The statistics show that many FSBO’s simply fail to sell. Why is that? First and probably the most common is PRICE. Sellers don’t know how important pricing real estate is in the process of entering the “for sale” market. Most FSBO sellers think that testing a higher price is the first step in listing their property because they can always reduce price later. In essence, they prolong the entire sale period, and mistakenly lead buyers into caution about making an offer. Second, the buyers that make offers to FSBO’s are mostly bargain hunters looking for a good deal from unrepresented sellers. FSBO sellers are not saving a commission because buyers already factor that Realtor commission savings into their offers. MOST IMPORTANT, most serious buyers are looking with a Realtor. Can you hope the REALTOR will even show your property on their tour for their client buyer? Think about it.