FSBO Tips – For Sale By Owner
The most essential component to getting your house sold is to price it correctly. Price too high and it simply sits on the market becoming a stale listing. Price too low and you will lose money. Bidding wars do not happen for FSBOs because buyers know they are not dealing with a professional home seller. Price right and you will get offers. So getting an offer is relatively easy – here is where the going gets tough.
Selling your home is a business transaction – a major one. There are three significant negotiations in the sale process: the initial offer, the counter-offer, and the post-offer period that includes inspections and requests for concessions. You need a skilled and objective negotiator on your side during those discussions. Buyer agents know we are tough negotiators but they also know that we can back up our response to any offer with cold hard numbers to show their buyers.
Of course you are going to want your home to get the maximum exposure to the greatest number of potential buyers. As professional Realtors, we prepare and distribute all the marketing materials, coordinate the internet marketing, and hold open houses. No one gets into your house that is not vetted; we know they are qualified to buy before they set foot in the door either by us or by their agent. We also have a stellar reputation with buyer agents who look for our listings because they know that the process will be managed correctly.
The vast majority of potential buyers are going to be represented by an agent of their own. In Florida, the seller, not the buyer pays the commissions. Savvy buyers hire professionals to save them time by giving them their criteria and finding the properties in their price range. Also, when a realtor brings you a buyer, you can bet they are qualified. FBSO deals can often deter agents who prefer to work with another real estate professional so they know they will get paid.
Getting the Transaction Done
This is where experience with the sale process really comes in; adhering to deadlines, efficiently stepping in when there are inspection or appraisal issues, dealing directly with the buyers’ objections and complaints, keep the closing on track, and facilitating the contracts and escrow to a successful, smooth close.
Attached is a great guide for FSBO sellers if you still want to want to try and go it alone. If you decide to hire a professional to get the job done, we would appreciate the opportunity to apply for the job and discuss our successful strategies to get the best price for your home with the least amount of stress. When you are ready to move on to your next great real estate adventure, you will appreciate the wisdom of hiring a professional Realtor!