- December 17, 2018
- Posted by: Editor
- Category: Advice
I have seen cases where houses sold by owners tend not to yield desired results. Choosing to go without a real estate agent usually ends in poor results. But why is that the case?
I can clearly understand a home seller’s motivation to save the kind of money that is handed out in a typical sale.
There are not too many people I know who don’t like to save money where ever they can do especially in a tough economy like Nigeria. In a Real Estate sale, keeping a commission translates into a tremendous amount of money. It is hard to blame any home seller for their desire to avoid the type of money that are made when a Realtor sells a home
There are indeed advantages and disadvantages of going for sale by owner. Before making a final decision, you should know the drawbacks and try to minimize them.
The Wrong Listing Price
Most for sale by owner properties fail to sell because of an incorrect list price. I don’t care whether you have listed your home with a Realtor or have decided to go the for sale by owner route.
If you don’t price your home correctly, you stand a very slim chance of it selling in a challenging Real Estate market.
Pricing a home correctly is the most critical element when selling any product but especially so when you are talking about a home sale.
If more for sale by owners priced their homes based on comparable market data, there would be a much higher success rate.
Doing a more thorough research of what like homes in similar neighborhoods are selling for would go a long way!
Lack Of Online Real Estate Exposure
Another leading cause of for sale by owners to be unsuccessful is lack of internet marketing! Over 95 percent of all conventional sales happen because of the internet!
Quite a few for sale by owners do nothing more than put up a handmade for sale by owner sign at the front gate and expect that will get the job done. A Realtor who has a firm grasp of online exposure can increase the traffic going through a home by leaps and bounds when compared to a for sale by owner site.
Buyer’s Want Your Commission Savings
One of the things that most folks who try the for sale by owner route don’t realize is that the home buyers who view the home understand you are not paying a Real Estate agent to sell the home. Unfortunately, the majority of these customers feel they should share in your commission savings!
Many of the potential buyers who will view for sale by owner homes are bargain hunters. The line of reasoning is that since the seller is not paying a Real Estate commission, they should be able to offer less for the home.
Lots of sellers end up receiving low ball offers. Buyers will often take 5% right off the top regardless of whether the home is priced well or not.
Failing at selling as a for sale by owner is not uncommon at all. What you may not realize is the opportunity of netting more money in your pocket by hiring a top producing real estate agent.
You can trust us with such services.
“Remember, if it doesn’t portray excellence, it’s not Bricks & Tierra!”