Attention: For Sale By Owners!
Why People Are Afraid To Buy From You!
Many homeowners believe that to maximize their profit on a home sale, they should sell it themselves. At first glance, they feel selling a home is simple, and why should they pay a broker fees for something they could do themselves? In fact, close to 15% of all the homes sold last year were sold ‘for sale by owner’ (FSBO).
However, close to half of the FSBO’s said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?
Many FSBO’s told us that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions.
For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing and advertising, they would have been better off having paid the broker’s fee which would have included many of these charges up front.
Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will lose serious money.
Some FSBO’s discovered the lost money as a result of poor decisions outweighed the commission. Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional.
Buyers are often leary or afraid to buy a home from a FSBO for numerous reasons...
- The owner has to many emotions involved, making it hard to negotiat with!
- It's hard to get in and see the home without the owner present!
- Not having the freedom to look at the home and express thier honest opinions between themselves!
- The Owners don't have the proper connections for a smooth settlement!
- The Owners don't have the necessary paperwork to secure a contract.
- It's difficult to communicate with the owner.
A professional Realtor can assist you with that.
A little time spent investigating up front will pay off tenfold in the end.
Questions To Consider:
- Do I have the time
- Do I have the energy
- Do I have the know-how
- Do I have the ability to devote a full forced effort to sell my home?
- Can I leave my emotions out of the negotiations when a buyers makes a low offer
Why not get more internet exposure for your FSBO home. At MDRE Pros, we will post your Maryland home on our website at no charge. We have hundreds 1st time home buyers, and investors looking at our website on a regular basis. And we have thousands of home buyers that are always looking for the right opportunity.
To get started, just fill out this simple form.