If you’re planning to sell your home this year and want to complete the sale as inexpensively as possible, a for sale by owner listing is a great option—if you do it properly, that is. An FSBO listing allows you to keep more money from the sale of your property, but it doesn’t come without its potential disadvantages, too. At Home Avenue, it’s our goal to help you successfully sell your home, whether that means assisting you with your FSBO listing or providing full-scale, flat-fee realty services. So, today, we’d like to discuss five of the most common mistakes in FSBO realty, and what you can do to avoid an unintentionally slow sale.
Mistake #1: Not Listing on the MLS
Marketing your property is a time-intensive undertaking, so be sure you have plenty of free time to devote to this all-important task. To sell faster and for more money take advantage of Home Avenue’s powerful MLS promotion and professional marketing. MLS increase showing activity which makes it more likely you will get a higher sale price due to more demand. Check out Home Avenue’s variety of FSBO listing services for an in-depth look at your options.
Mistake #2: Poor Pricing
Unless you’re unusually aware of real estate pricing trends in your area, chances are you’ll price your property wrong. Pricing a home according to market value always involves either a substantial time commitment or a monetary investment. You’ll either have to conduct extensive research into market trends, or you’ll need to pay an appraiser to assess the value of your property. Without investing in either option, the vast majority of homeowners price their properties too high, because it’s only natural to believe your property is worth more than it really is.
On the other hand, what if you price your home too low? You could leave tens of thousands of dollars on the table, but unfortunately, you’d be unaware of the mistake. Bottom line? Poor pricing can either slow or accelerate your sale and in the end, lack of market knowledge will cost you more than you’d probably like.
That’s where an FSBO MLS listing service offers a distinct advantage: You get the market expertise of professional realtors at your fingertips but at a small fraction of the cost of traditional realty services. It’s a small price to pay for a service that significantly improves your chances of a successful sale.
Mistake #3: Unsatisfactory Showings
Just because you know every nook, cranny, and quirk within your home, that doesn’t mean you know how to conduct a successful showing for prospective buyers. For example, some potential buyers don’t want a guided tour of the property; they’d rather explore the space at their leisure. If you give those buyers a full tour, complete with lengthy talking points, they may feel uncomfortable, even disinterested.
Another issue that frequently arises is the uncomfortable nature of discussing issues directly with the homeowner. Many prospective buyers feel trepidation around being candid with the property owner when discussing concerns, and in many instances, those individuals would rather converse with a more impartial third party—your real estate agent.
When you don’t have an agent facilitating the sale, though, you lose out on valuable feedback that may help you show your home more successfully. Because this particular FSBO issue is so common, and it’s difficult to resolve without an agent, opting for a flat-fee broker is almost always your best—and most lucrative—bet. Home Avenue can provide a full service Realtor or if you sell For Sale by Owner, offer a Purchase Agreement facilitation service that will put the buyer at ease.
Considering For Sale By Owner? Contact Home Avenue Today
If you’re considering a for sale by owner listing, contact our team at Home Avenue to learn how we can help facilitate a successful sale. For over 30 years, we’ve been assisting Twin Cities property sellers with both our flat-fee MLS listing service and our comprehensive FSBO MLS listing service. Our dedication to our clients and their success has earned us a top 1% ranking out of over 1.4 million realtors nationwide, which means when you partner with our team, you can trust in the service we provide. To learn more about how we can help you sell your property without paying exorbitant commission fees, give our team a call at 952-929-7355. Or, you can always feel free to reach out to us on our contact page with any questions or concerns.