Why For-Sale-by-Owner Sales Often Fail

Here is a story form http://www.realtor.com/ by Michele Lerner that talks about the whole for sale by owner issues. 

The 3 main issues I liked that she pointed out was first the whole pricing of your home.  Have you ever talked to someone who knew someone else that said a property in your neighborhood sold for some price?  I know I have.  I had a listing appointment one time and the Gentleman's home was worth in the mid $200,000's at that time.  He had went to some million dollar home open house and decided that his bathroom was nicer that the million dollar homes bathroom.  

" A Realtor has access to market data about recent sales and other homes on the market that can be used to price your home appropriately. Studies show that homes priced right when they’re first listed sell more quickly and for a higher price than those that linger on the market."

He informed me that his home was worth at least a million dollars because of that.  I didn't get the listing or want it.  That is what happens sometimes with for sale by owner properties. They over price them. Professional Realtor's bring you a report that shows what is selling in your neighborhood and how your property stacks up to your neighborhood sells.  

The other huge issue is marketing your property.  Marketing is a lot more than just adding your property to the MLS. It also requires phone calls to agents that have those types of clients and networking with your agents in the office you work.

"Realtors have professional marketing expertise, contacts with other Realtor's who work with buyers, and the support of a brokerage that can market your home more widely than you can as an individual."

Lastly is the legal issues you could face representing yourself in a real estate transaction. Getting all the disclosures and issues handled when your selling your home may be daunting at times, but it really covers your back side later.  I have dealt with buyers and buyers agents after the sell of a property and usually I can handle any issue that they may have after the sell of a property.  Most of the time my clients are golfing or snow skiing according to what time of the year it is and enjoying their new home.

" Most buyers today work with a buyers’ agent to represent their interests. If you choose to sell your home on your own, you’ll be negotiating with a professional and relying on your own skill to finalize a contract. Not only could you end up selling your home for less money, you could leave yourself open to potential legal problems unless you have the contract vetted by an experienced real estate attorney. FSBO transactions can be successful, of course, but 90 percent of homeowners prefer to work with a professional rather than risk an unsatisfactory home selling experience."

If your thinking of selling your home please look at my services and what I can do for you.  I love my clients and I would love to sell your home. Brett Young EXP Realty Ohio 216-703-5740 and EXP Realty Arizona 

 

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