Five Common Mistakes FSBO’s Make When Self-Listing
Posted: May 21, 2018 6:14 pm
Selling your home is no easy task, especially in Erie, Pennsylvania; but some people think they can lessen the burden of selling their homes by doing it themselves. Sure, it’s possible but is it worth it?
There are many pros to taking on the responsibility of a real estate agent and there are also many cons. Here are some mistakes most FSBO’s make when trying to sell their house online.
Taking Mediocre Photos of Your Home
First we need to look at the most important option available for selling your home yourself. Yes you can spend a little money using ads, putting out signs and relying on word of mouth to sell your home, or you can sell online.
It’s 2018 and most buyers look to the internet first to find homes for sale. Buying and selling can all be done online and there’s no need to hassle around with an agent. But, this only works if you really know what you’re doing.
Which brings us to mistake number one. Most sellers provide mediocre photos in their listings. There are two ends to the scale for this; horrible quality can really turn off buyers, but overly edited and filtered HDR photos will send them away screaming.
Overpricing (or Underpricing) Your Home
The second mistake is a no brainer. Most FSBO’s don’t have enough knowledge to correctly list their home at a good price.
About half go too low and the other half price too high. This can loose buyers interest and cause distress to your overall ending sales. Looking at your neighbors listing isn’t a good idea either, as theirs are almost always priced too high as well.
Failing to List Your Home in the Right Places
This ties into mistake number three. FSBO’s just don’t have the same connections as a real estate agent does, leaving them with a lack of exposure. Having access to MLS and other free tools greatly increases your selling chances.
Sure, you’re listed on the internet but what good is that if no one can actually see that you’re on the internet. Some listings take FSBO’s for a small fee but it’s best to do your research if that is the direction you’re wanting to go.
Selling Without Technical Knowledge of the Process
The fourth most common mistake is the lack of knowledge regarding the whole selling process, mostly focused around the legalities of it all.
Paperwork, negotiating and evaluating offers is really a science and it’s best to leave it to a professional. Understanding contract do’s and don’ts can ultimately affect the amount of money you’ll actually be taking home in the end.
Refusing to Pay Commission to Those Who Help You Sell
The last mistake FSBO’s make when selling their house online is not providing commision for the help you DO get. If you have decided to sell on your own that doesn’t mean you have to shut out all agents.
But if you have called upon an individual (or agency) to help it’s smart to pay them for it. Not only will you create future relationships, but offering compensation will increase the chances of a sale. This provides a greater incentive for your agent to really help you.
All of these mistakes can be easily bypassed by going to a real estate attorney who can work with you to properly and effectively sell your house online. It all comes down to actually wanting to sell your house or not.
There are ways to do it and ways not too. Don’t waste your time, seek out someone who can get the job done without dragging it out longer than it should be. If you should ever need assistance at anytime in the home-selling process, contact the offices of James Vendetti in Erie, Pennsylvania today.