FSBO in Barrie, Orillia and Simcoe-For Sale By Owner Tip #1- How to handle an offer

Tip #1- Handling Low offers while controlling your emotions!!

Selling your home on your own can be a scary and daunting task. In the process of selling your home privately you've made the decision to save commissions and sell without the help of a real estate agent. These FSBO sales Tips are here to walk you through the various situations you will encounter in the world of FSBO or For Sale by Owner.

Since FSBO's is all about saving money in real estate fees, and these For Sale by Owner articles are here to show you how to do that, the first Tip we are going to discuss is how to keep your emotions out of the real estate game.

Here is what I mean....You've lived in your home for many years. You've put your heart and soul into fixing it up. You have many life experiences tied into this property. You've earned the right to sell at a price that allows you to realize some great financial gains. However, you've just received a "low-ball offer". How will you handle it? The initial reaction to such an offer is to take it personally and to feel as though you've just been insulted. I know I felt that way. However, you need to rise above this type of emotional response.

Here is an example of handling a low FSBO offer for your home. Let's say you put your house on the market for $450,000 and nothing happens for awhile. Then, someone comes along and offers you $350,000. What?! You say. "I put the best years of my life in this house. How dare they low-ball me?", you scream to your spouse. What an insult! Does this person think you're stupid?

Ok, it's time to calm down and realize what's going on here. This is simply a business transaction. You need to take your emotions out of the equation. Take deep breath. You must understand the process that goes into selling a house. Your potential buyer is feeling you out. They're trying to figure out how motivated you are to sell. Are you desperate or can you take some time to allow the transaction to transpire? This person might realize fully that you won't sell for $350,000, but they want to see what your counter-offer will be. The buyer is trying to feel out what your bottom line price is.

The other possibility is that your potential buyer might be low-balling you precisely because you're a FSBO seller. For Sale by Owner offers tend to be lower because you're not being represented by a real estate agent and you'll accept the low offer right away. If you believe this, they may even think that you'll get scared and even offer to sell lower than the $350,000 offer!

However you need to relax and realize the game that's being played here. ( yes I know its a game with your life long home and a lot of money!!) Here is some options you should consider when you receive a low FSBO offer for your home....

1-You should now enter a counter-offer to this person at your original price, or even try asking for more. This lets them know that you won't be playing anymore games.

2-So as not lose the purchaser completely try a counter offer just a few thousand less, say $395,000

3-Show the purchaser the comparable home prices in your area, which justifies the price you bare asking and then ask him to get serious.

4-Do not counter offer at all. Just wait and see. When he calls and says what is happening just tell him that you thought he was joking....and then say when your ready to put in a real offer then call me.

Good luck!!

Homes By the Owner Team

(705)-812-1033

Email: info(at) homesbytheowne.ca

HomesbytheOwner - www.homesbytheowner.ca - For sale by owner Barrie, Orillia, Midland. We work with private home owners sell FXBO in Collingwood, Innisfil and all of Simcoe county, As well we work with real estate investors, and new home builders...saving hundreds if not thousands in real estate fees by utilizing the private real estate market.

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