Sell my home on my own? Well, of course, that’s easy! Why For Sale By Owner (FSBO) Fails
A FSBO Charlotte (any area really) is defined as a seller attempting to sell their home without the help of representation by a Realtor as the Listing Agent. The question going through most seller’s minds when they decide they are ready to sell their home is this- should I use a Realtor or should I not?
Let’s make a comparison. Let’s say its time for your son to go to high school and he needs to take Algebra, Biology, and English Lit. Sure, your his parent. You know your son better than anyone. You’ve lived with him for 15 or so years- you got this!! You can home school him with no problem. Well, sure you probably could but if you’re like me, you probably wouldn’t do a very good job. The reason? For starters, you’re not a teacher. You haven’t spent years in school training to be a teacher and you haven’t spent years in the classroom honing your teaching style and skills. I’m sure your son would learn something but he would not get the full benefit of having a seasoned professional instructing him in a classroom setting. The same goes for selling your home on your own without using a Realtor. Sure you might get it done. But not without leaving money on the table and having a lot more grey hairs on your head!
There are many reasons why FSBO in Charlotte don’t sell, and few of them actually make it to the closing table. In fact, according to data compiled by the National Association of Realtors, less than 10% of homes listed for sale by owner actually sell. Sure, homeowners know their homes better than anyone else. But that doesn’t mean that they are the best salesperson to sell it!
I’ve compiled a list of reasons why FSBOs don’t sell and why you should seriously consider using a knowledgeable real estate professional to list your home.
SELLERS DONT KNOW HOW TO PREPARE THEIR HOME TO SELL IT
There is a lot of preparation to get your home ready to sell. Decluttering, organizing, and cleaning are just the start. A Realtor is an expert at how your home should look when it hits the market!
SELLERS DON’T KNOW HOW TO SCREEN BUYERS
One of the top reasons why so few FSBOs make it to the closing table is because the Seller doesn’t ask the right questions and get the proper documentation from potential Buyers about their ability to purchase the home. Sellers need someone that understands the questions to ask and how to document the finances of a potential buyer.
SELLERS AREN’T AVAILABLE TO HANDLE INQUIRIES AND SHOWINGS
In today’s environment of instant gratification and technology, buyers and their agents expect quick responses to requests to see your property. Do you have time during your busy day to answer calls from agents or buyers? Do you have time to rush home from work at the drop of a hat to show the house to a prospect? Let a Realtor field calls and arrange showings for you so you can continue with your life, un-interrupted!
SELLERS AREN’T KNOWLEDGEABLE ABOUT HANDLING THE HOME INSPECTION NEGOTIATION
I call this the “2nd Negotiation”. After you’ve already negotiated a price that is lower than you wanted, and negotiated the timing on selling your house with a buyer, then comes the home inspection, After the home inspection comes the buyer’s request for you to make a laundry list of repairs, which costs you more money off your bottom line. Let a seasoned professional handle this negotiation for you to keep
your additional costs at a minimum. Someone familiar with homes and home construction can decipher these reports and the related repair requests so that you don’t have to. Additionally, a Realtor can help you navigate the 1st negotiation so that your bottom line still looks good once you get to the closing table!
SELLERS DON’T PRICE THEIR HOME RIGHT TO BEGIN WITH
Most Sellers that decide to do a FSBO price their homes too high. They are not in tune with the market around them. Just because Sally down the street got a certain selling price for her home doesn’t mean that you will too. A real estate professional is in the business of keeping their finger on the pulse of home prices in and around your neighborhood. There is much more that needs to be considered when pricing your home than just how much your neighbor was able to sell theirs for.
Are you a Charlotte, NC homeowner thinking of selling your home without Realtor representation? Have you attempted to sell your Charlotte, NC home by owner and failed? I would love the opportunity to talk with you about your real estate plans and objectives. Contact me so we can decide whether there would be a mutual benefit of working together on the sale of your Charlotte, NC home.