10 BIGGEST “MISTAKES” PRIVATE SELLERS MAKE

  • Overpricing your property value. “We can always come down in price” is the most dangerous and expensive strategy a home seller can possibly use!! Price it correctly to sell it faster. Buyers are SMART. Overpriced homes do not sell.
    • Assuming buyers are only found through the MLS. While the MLS will expose your listing to more buyers, many of our buyers come from the For Sale By Owner websites. More and more Buyers are realizing that for sale by owners are able to price their homes fairly
    (without the huge commission tacked on) and are opting not to use an agent.
    • Not allowing yourself enough time to sell privately. If you list your home with an agent, the agent will want you to list for at least 6 months to sell your property. Shouldn’t you give yourself at least that much time?
    • Assuming you can sell by-owner with little or no expense. Today, a cheap, inexpensive yard sign sends the wrong message to a buyer. Would you feel comfortable buying a home (the largest investment of your life) from someone who has a $1.00 sign in their yard or a seller who has a professional post sign with a For Sale By Owner Company on the sign that has been serving the community for over 25 years. Sellers save on paying a commission when they market their property correctly – not by saving on proper marketing techniques.
    Put all tools to work for you – maximize exposure to as many buyers as possible ( Internet with Internet Slide Show (lots of pics on the websites), Professional Signage, Directionals and Flyers). Don’t forget a home warranty. Effective Advertising WORKS!
    • Relying only on local “drive-by” traffic. What about the couple that lives on the other end of town that would pay you more for the property and never drives down your busy street?
    Signs alone do generate a lot of traffic – from noisy neighbors and curiosity seekers – not serious buyers.
    • Lack of advertising. You must “tell to sell”. Maximizing the exposure of your property to as many buyers as possible is critical to your success. Don’t count on luck.
    • Thinking agents can sell ‘faster’ than FSBOs. Wrong! If time is of the essence, you should always sell do both FSBO and MLS. Regardless of what they say, agents can not sell your home any faster. The key is exposure.
    • Wrongly thinking that the “title companies do all the paperwork”. Unfortunately, most title companies will not assist you in preparing the paperwork for the seller and buyer. If you hire an attorney it will cost you far more than if you use the services offered by your local for
    sale by owner companys. 
    • Failing to determine accurate fair market value. If you’re struggling to determine a price, say between $300,000 and $310,000, that’s a $10,000 difference – don’t leave money on the table! Order comps or an appraisal to determine the correct price.
    • Failing to know and understand disclosure laws. The paperwork (contract) is not a matter of filling in the blanks. Please do not write your own contract unless you are an attorney or Realtor. Have a professional company, like “GoToFSBO.com” handle the
    paperwork and disclosures! 

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